2 Stocks That Have More Than Doubled in the Past Year to Buy and Hold for a Decade

Market Overview - Equity markets have recently declined due to concerns over deteriorating macroeconomic conditions, particularly influenced by President Trump's trade wars, with the S&P 500 index down nearly 1.5% over the trailing-12-month period and a significant 13.8% drop so far this year [1] Company Performance: Summit Therapeutics - Summit Therapeutics is a clinical-stage biotech company with a market cap of $15.1 billion, notable for having no products on the market [3] - The company's leading candidate, ivonescimab, has shown strong clinical results, leading to a surge in share prices last year [3][5] - Summit has secured licensing rights for ivonescimab from Akeso Biopharma, allowing it to market the drug in multiple regions including North America and Europe [4] - Ivonescimab has already been approved in China and outperformed Keytruda in a phase 3 study for non-small cell lung cancer (NSCLC), a significant market for Keytruda [5] - The company is conducting several phase 3 studies for ivonescimab in the U.S. across various cancer types, indicating potential for future approvals and revenue growth [6][7] Company Performance: Robinhood Markets - Robinhood reported a 58% year-over-year revenue increase in 2024, reaching $2.95 billion, and achieved net earnings per share of $1.56, a turnaround from a loss of $0.61 the previous year [8] - The company's success has been partly attributed to crypto-related trading revenue, although it has shown growth in key metrics such as funded customers and assets under custody [9] - Robinhood is expanding its subscription service, Robinhood Gold, which ended the year with 2.6 million members, providing growth opportunities through increased spending on the platform [10] - The company has launched new products and made acquisitions, including the $300 million purchase of TradePMR, enhancing its position as a comprehensive financial services provider [11] - Despite a stock pullback this year, Robinhood is viewed as a strong long-term investment opportunity [12]