The 3 Best Russell 2000 Stocks to Buy in Q2 2024


  • These Russell 2000 stocks represent some of the best buys in the index, rising to the front of their industries.
  • Viking Therapeutics (NASDAQ: VKTX) – An up and comer in biotech with promising releases not too far down the pipeline.
  • Fluor (NYSE: FLR) – An engineering company that is in the perfect position to benefit from the demand for zero carbon emission energy solutions.
  • SoundHound AI (NASDAQ: SOUN) – Though accompanied by some risk, this voice recognition AI has an exciting forecast and growth prospects.
Best Russell 2000 Stocks to Buy - The 3 Best Russell 2000 Stocks to Buy in Q2 2024

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The Russell 2000 index offers investors various small-cap companies that can incite great long-term returns and add a more differentiated investment to their portfolio. Not all stocks in the Russell 2000 are automatic wins, but there are certainly some worth keeping your eye on.

These three stocks, in particular, have exciting events that have sparked their popularity and made investors start to consider their potential. While they are riskier than some large-cap stocks, they are in a position to stir up a storm this upcoming quarter, meaning now is the best time to buy.

We’ll cover these stocks’ recent movements and the numbers that make them the best buys in the Russell 2000 for Q2. 

Viking Therapeutics (VKTX)

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Viking Therapeutics (NASDAQ:VKTX) is a biotech company on the up and up with several drugs in the works, including a promising weight loss drug, VK2735. While Viking Therapeutics has developed attention from its undeniable potential, many reasons remain to buy it up this quarter.

Attention is being paid to Viking Therapeutics by recent announcements regarding the phase 1 clinical trials of VK2735. The oral tablet formulation showed promising results, including a 3.3% weight loss after 28 days, within a safe and tolerable range for subjects’ bodies and health. 

With phase 2 set to begin later this year, investors likely won’t have to wait long for this product to hit the market. While there is a possibility of unfavorable results, Viking has an excellent opportunity to develop a top-seller in the more popular than-ever weight loss drug category.

Viking Therapeutics is also progressing in clinical trials for other effective medical treatments, such as therapies for metabolic-associated steatohepatitis. The stock has soared this year, but it is not too late for investors to get on board with this new biotech player.

Fluor (FLR)

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The demand for carbon-free engineering is greater than ever. With global infrastructure projects and a push for eco-friendly technologies on the rise, Fluor (NYSE:FLR) is destined for success. The company already sees a steady flow of large-scale contracts for engineering projects worldwide.

More and more projects for Fluor are resulting in a growing and already large backlog that creates a secure cash flow for years. Last year, the backlog grew from $26 billion in 2022 to $29.4 billion. This year, the company has secured a handful of massive projects to supplement this amount further.

What’s more encouraging for investors is the gradually increasing return on equity (ROE) that Fluor focuses on. The trailing 12-month ROE is well above the industry average, and Fluor also reports a revamped capital structure to lower interest expenses and improve cash flow for this year.

Fluor is also expanding and diversifying its market reach, meaning investors should capitalize on this growing engineering stock this year. 

SoundHound AI (SOUN)

In this photo illustration, the SoundHound logo seen displayed on a smartphone. SOUN stock
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SoundHoundAI (NASDAQ:SOUN) is based in Santa Clara, CA, specializing in speech recognition and voice AI software. SoundHound has a diverse customer base and has seen an exciting growth spurt due to the increasing popularity and growing demand for Voice AI. 

While this stock has undoubtedly seen its fair share of ups and downs, it is showing real promise this year and has attracted attention. In its 2023 detailed report, SoundHoud reported a 47% increase in year-over-year revenue and a tremendous increase in its subscriptions and bookings backlog, doubling from 2022.
Recent news has also mitigated some of the risks associated with owning SoundHound. The tech giant Nvidia disclosed that it purchased a $3.67 million stake in the Company. There is no better time to look into this AI stock and profit from the potential growth.

On the date of publication, Joel Lim did not have (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 Publishing Guidelines.

Joel Lim is a contributor at and a finance content contractor who creates content for several companies like LTSE and Realtor, along with financial publications, including Business Insider, Yahoo Finance, Mises Institution and Foundation for Economic Education.

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