This Gold Giant Just Got Another Green Light

Gold stocks have been acting like the market’s quiet insurance policy, and one name is now wearing the crown.

This stock has already had a monster run, but Wall Street is inching targets higher as cash flow stays strong and the company keeps leaning into its capital return framework.

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Novo Nordisk | NVO

Price: $50.88

Novo’s 2025 has been a lesson in how fast a can’t-miss narrative can cool.

The stock is still down big on the year, even while demand for GLP-1s keeps rewriting the healthcare playbook. 

What just changed is the convenience factor.

Novo’s oral Wegovy approval shifts the conversation from blockbuster drug to blockbuster format, because pills scale differently than injections when you are trying to reach millions of patients.

The bull case is that an oral option expands the funnel: more patients are willing to try it, more doctors are willing to prescribe it, and manufacturing becomes less constrained over time. 

The bear case is that competition is brutal, payors will fight on pricing, and any supply hiccup can still rattle confidence.

But if you are looking for a “reset entry” into the obesity megatrend, Novo is trying to give investors a new leg to stand on, not just a better quarter.

Why it matters for you: If pills meaningfully widen adoption, NVO can rebuild growth expectations without needing the market to fall back in love with injections.

Rivian | RIVN

Price: $19.71

Rivian is ending the year the way it usually does: with investors split into two camps that both have a point.

The optimists see a company gradually turning EVs into a software platform, using autonomy as the wedge that keeps customers engaged and pushes margins higher over time. 

The skeptics see a capital-intensive automaker that still has to prove it can scale profitably in a world where EV demand can turn choppy fast.

The next real story beat is 2026 execution.

Rivian has been framing autonomy improvements and software-driven monetization as key pillars, with the R2 timeline sitting as the main “prove it” launch.

Markets have already started pricing that future, which is why the stock can move hard on small signals, whether it is a product update, a delivery datapoint, or a shift in rate expectations.

Why it matters for you: RIVN is a momentum name with a real roadmap, but it will punish sloppy positioning, so think in tranches, not all-in swings.

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On Holding | ONON

Price: $46.48

On is still a premium brand story in a market that keeps trying to decide how much “premium” it is willing to pay for.

The recent dip is not a death sentence; it is the usual reminder that consumer growth stocks trade on perfection. 

When volume thins around the holidays, even small sentiment shifts can push the stock around, especially for a name that sits in the crosshairs of both growth investors and valuation skeptics.

What keeps the thesis alive is straightforward: On has shown it can expand without racing to the bottom on discounts, and its brand momentum has held up even as the broader consumer mood gets fickle.

The risk is that footwear is a knife fight. If competitors force heavier promotions or if On’s growth cadence slows, the multiple can compress quickly.

Why it matters for you: ONON still looks like a long runway brand, but you are buying execution plus consumer confidence, not just a cool shoe.

CrowdStrike | CRWD

Price: $468.76

CrowdStrike keeps behaving like a category winner that is trying to stay hungry.

The latest headline is governance and incentives: management compensation is being tied to long-term shareholder returns, which is exactly what you want to see in a high-multiple compounder. 

If leadership thinks the next three years can justify that structure, it signals confidence that the product engine and enterprise demand stay strong.

The more important point is the backdrop.

Security spend is one of the last budgets companies want to cut, and CrowdStrike is positioned where breaches and AI-driven attack surfaces keep expanding the urgency.

The trade-off is always valuation. CRWD can be a great company and still be a volatile stock, because expectations are high and the market will punish any hint of deceleration.

Why it matters for you: When incentives align with multi-year performance, it supports the idea that the company is playing the long game, not the next quarter.

Newmont | NEM

Price: $99.85

Newmont is the headline today because the market is still upgrading the story after the move.

Raymond James raised its price target to $111 while keeping an Outperform view, leaning on the core reasons investors keep coming back: scale, cash flow, and a global portfolio that is viewed as lower-risk relative to many peers.

So how do you make this a buy story when it is already near highs? You focus on what changes the ceiling.

Newmont is not just a bet on gold prices anymore. It is a bet on disciplined operations plus a capital return framework that is designed to share excess free cash flow. 

In a world where many cyclicals waste the good times, that matters.

If gold stays firm, Newmont’s model can keep spitting out cash, and the market can keep rewarding that predictability with a premium multiple versus the hope-and-pray miners.

Why it matters for you: If gold remains a core hedge into 2026, NEM can stay a leader, and leaders often keep leading longer than the market expects.

📊 Stat of the Day: 4.3% Growth

The U.S. economy has been anything but linear. After a -0.6% Q1, real GDP rebounded to +3.8% in Q2 and +4.3% in Q3, with Q3 coming in more than 1% above consensus estimates.

That matters because strong growth keeps the recession narrative on the defensive, even if parts of the market are clearly cooling.

For investors, it is a reminder that 2026 may be less about risk-on vs risk-off and more about picking the businesses that can compound through a weird mix of solid demand and shifting policy.