Tom Lee Predicts iShares Russell 2000 ETF (IWM) Will Reach $300 by End of Summer 2024, Rallying 40%

Tom Lee, co-founder of Fundstrat Global Advisors, has forecasted that the iShares Russell 2000 ETF (IWM) will reach $300 by the end of summer 2024, indicating a potential rally of approximately 40%. This prediction aligns with insights suggesting that many investors are currently underallocated in small-cap stocks, which could lead to further upward momentum as the year progresses. Market analysts have expressed agreement with Lee's outlook, highlighting that the initial rise in IWM prices may only be the beginning of a longer-term upward trend.