We are almost at the end of the year, and what a year this has been! High inflation, high-interest rates, fears of a recession, and low consumer spending continued to remain at the top of our minds, but I believe the worst is over. This means it’s time for many forward-looking investors to begin their hunt for stocks to buy before the new year.

As we look forward to 2024, I can identify three companies that are ending this year on a high momentum. And I believe these three companies are going to continue the upward momentum in the coming year.

If you want to end the year right and begin a new one on a high note, here are the three robust stocks to buy before 2024 begins to ensure steady gains throughout the year. Let’s take a look at the three stocks to buy now. 

Li Auto (LI)

While electric vehicle (EV) makers have been cutting down on their production targets and projected lower guidance for the final quarter, Li Auto (NASDAQ:LI) has been shining like a bright star. The automaker has been on a roll and is breaking all the barriers. It is one EV company that has been thriving despite high inflation and low EV demand. I have been writing about Li stock since early 2021, and I always believed in its product and execution capabilities. The company has seen ups and downs since then but has gained momentum since the beginning of this year.

In the third quarter, its total revenue for the quarter stood at $4.75 billion, up 271% year-over-year (YoY), and the net income came in at $385.5 million. This is a significant improvement from the loss it reported in the same quarter the previous year. Li Auto has impressed investors with its delivery numbers. The company reported deliveries of 105,108 vehicles, up 296% YoY. Further, it aims to deliver between 125,000 and 128,000 vehicles in the fourth quarter. And they’re well on their way. The company has already delivered 81,452 cars in the past two months which means it only needs to deliver 43,548 cars this month to achieve the projection. 

There is a a lot of excitement surrounding Li MEGA which is fully electric and will be available in February. Li Auto already has more than 10,000 pre-orders, and I expect this number will increase in the coming months. Li will enjoy a higher market share in 2024 and looking at the delivery numbers, there is no doubt that it will continue to remain a big EV player throughout the coming year.

Trading at $35 today, the stock looks highly undervalued to me.

SoFi Technologies (SOFI)

While many aren’t happy with the resumption of student loan payments, SoFi Technologies (NASDAQ:SOFI) is set to benefit the most from it. The fintech company aims to transform your banking and investment experience, and it has been successful to some extent. As the student loan payment resumes, SoFi is set to see a higher demand for personal loans and this will drive business growth. 

When investors were losing faith in traditional banks, SoFi was making the most of it. The company has a diversified revenue stream which works as its strength and ensures that it can tackle any market ups and downs. It has seen a strong growth in the net interest income which hit $345 million, up 119% YoY, and proves that it has a solid lending game. With a higher demand for loans, we could see this number improve in the coming months.

While the company isn’t profitable yet, it aims to report a profit in 2024, and this is when the stock will start to soar. The company has managed to expand its member base and added 717,000 members in the recent quarter. This 47% year-over-year growth in members shows that consumers have faith in SoFi’s products and it is moving in the right direction. SoFi could see a higher market penetration in the coming quarters and we could see an improvement in the bottom line.

Trading at $7.96 today, the stock is up 76% year to date, and I believe the upward momentum has just started. Cathie Wood has been buying SoFi stock and bought 252K shares last week and another 200K shares this week. With success on the horizon, this is a clear stock to buy before the new year arrives.

Alphabet (GOOG, GOOGL)

A huge catalyst for Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL) will be the launch of Gemini. The software could be a groundbreaking artificial intelligence (AI) model that helps increase Google’s market share. The company is set to release the model in early 2024 and there is high excitement surrounding the same since it could outperform OpenAI’s ChatGPT. However, Alphabet is a lot more than that. It has a wide range of products and services that cater to every individual and business.

Alphabet is already dominating search advertising right now and it has an impressive balance sheet which makes it a strong buy. No matter the market situation, GOOGL continues to perform. In the recent quarter, it saw an 11% year-over-year search revenue increase while the net income was up 41% year over year. Buying Alphabet before the launch of Gemini can be a smart move since the success of this AI model will take the stock higher.

Trading at $129 today, the stock is lower than the 52-week high of $141 while it is up 45% year-to-date. Buying the stock below $150 could be a smart move since there is no stopping the momentum of this company and we could see it hit a new high in 2024. 

Not only is it one of the top stocks to buy now, this blue-chip stock is the one to buy and hold forever.

On the date of publication, Vandita Jadeja did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.