Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Urban One Inc. (UONE), Adamis Pharmaceuticals Corp. (ADMP), 9F Inc. (JFU), Workhorse Group Inc. (WKHS) and Canaan Inc. (CAN).
- Urban One Inc. (UONE) shares soared amid investor anticipation of Juneteenth, which celebrates the emancipation of slaves in the US, since the minority-owned multimedia company saw a run-up last year.
- Adamis Pharmaceuticals Corp. (ADMP) shares jumped following a report by the National Institutes of Health (NIH) that the biotech company’s experimental drug TEMPOL could be promising as an oral treatment for COVID-19.
- 9F Inc. (JFU) shares soared in response to a date set for shareholders to discuss changing the Chinese financial services company’s name to ‘Ether Securities, Inc.’ which would formalise its focus on brokering stocks.
- Workhorse Group Inc. (WKHS) shares popped when the electric vehicle (EV) specialist joined a group of meme stocks favoured by Reddit users looking to pump share prices.
- Canaan Inc. (CAN) shares were up as Bitcoin prices stabilising coincided with the mining hardware maker posting solid first-quarter results.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Urban One Inc. (UONE) | 5.71 (+77.69%) | 13.06 | Services |
| Adamis Pharmaceuticals Corp. (ADMP) | 0.3116 (+45.26%) | 1.00 | Consumer goods |
| 9F Inc. (JFU) | 0.57 (+41.61%) | 1.94 | Financial |
| Workhorse Group Inc. (WKHS) | 3.68 (+39.27%) | 13.05 | Consumer goods |
| Canaan Inc. (CAN) | 2.57 (+30.60%) | 10.97 | Technology |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for AMC Entertainment Holdings Inc. (AMC), BlackBerry Limited (BB), Asensus Surgical Inc. (ASXC), Callon Petroleum Co. (CPE) and Cloudera Inc. (CLDR).
- Shares of AMC Entertainment Holdings Inc. (AMC) skyrocketed after the movie theatre chain launched its new AMC Investor Connect program, which rewards shareholders with special perks.
- BlackBerry Limited (BB) shares surged due to renewed interest in so-called “meme stocks” in which the mobility technology company was swept up.
- Asensus Surgical Inc. (ASXC) shares soared while the medical device company’s 2021 Annual Meeting of Stockholders took place this week.
- Callon Petroleum Co. (CPE) shares were up, along with other energy stocks, following a rally in oil prices thanks to an optimistic update from OPEC.
- Cloudera Inc. (CLDR) shares spiked after the data software company announced a deal to be purchased by private equity firms Clayton, Dubilier & Rice and KKR.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| AMC Entertainment Holdings Inc. (AMC) | 21.79 (+83.42%) | 47.91 | Consumer Goods |
| BlackBerry Limited (BB) | 3.79 (+37.64%) | 13.86 | Technology |
| Asensus Surgical Inc. (ASXC) | 0.65 (+27.78%) | 2.99 | Consumer Goods |
| Callon Petroleum Co. (CPE) | 9.29 (+24.15%) | 47.76 | Consumer Goods |
| Cloudera Inc. (CLDR) | 2.98 (+23.17%) | 15.84 | Technology |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Globalstar (GSAT), MannKind Corp. (MNKD), iRhythm Technologies Inc. (IRTC), Veracyte Inc. (VCYT) and FireEye (FEYE).
- Globalstar (GSAT) shares tanked this week with no recent news about the mobile satellite services provider that might have caused this volatility.
- MannKind Corp. (MNKD) shares dropped following a report on the global dry powder inhaler device market, in which the biopharmaceutical company and its competition were analysed.
- iRhythm Technologies Inc. (IRTC) shares sank after the cardiac care company announced that President and CEO Michael Coyle would be stepping down.
- Veracyte Inc. (VCYT) shares dipped after the genomic diagnostics company closed a deal to acquire HalioDx.
- FireEye (FEYE) shares declined after the cybersecurity company announced major changes to its business, including plans to buy back $500 million in stock.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Globalstar (GSAT) | -0.43 (-26.88%) | 1.17 | Technology |
| MannKind Corp. (MNKD) | -0.81 (-18.33%) | 3.61 | Consumer Goods |
| iRhythm Technologies Inc. (IRTC) | -13.37 (-17.72%) | 62.09 | Consumer Goods |
| Veracyte Inc. (VCYT) | -6.11 (-15.65%) | 32.94 | Consumer Goods |
| FireEye (FEYE) | -3.45 (-15.42%) | 18.92 | Technology |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, TAL Education Group ADR (TAL), GSX Techedu Inc. (GOTU), Resolute Forest Products Inc. (RFP), Inspire Medical Systems Inc. (INSP) and ZIM Shipping Services Ltd. (ZIM) stocks all experienced negative movement over the past week.
- A number of Chinese education stocks, including TAL Education Group ADR (TAL) and GSX Techedu Inc. (GOTU), dropped as regulators in China cracked down further on for-profit private tutoring businesses.
- Resolute Forest Products Inc. (RFP) shares slid as a downside momentum from buyers pushed the Canadian pulp and paper manufacturer’s stock value lower.
- Inspire Medical Systems Inc. (INSP) shares were down following a report on the sleep apnea implants market, with the medical device company also expected to post negative earnings.
- ZIM Shipping Services Ltd. (ZIM) shares dropped after the global container liner shipping company announced the launch of a secondary offering of 6.7 million ordinary shares.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| TAL Education Group ADR (TAL) | -9.97 (-24.94%) | 30.00 | Consumer Goods |
| GSX Techedu Inc. (GOTU) | -4.30 (-23.19%) | 14.24 | Technology |
| Resolute Forest Products Inc. (RFP) | -2.60 (-15.41%) | 14.27 | Consumer Goods |
| Inspire Medical Systems Inc. (INSP) | -29.37 (-15.12%) | 164.93 | Consumer Goods |
| ZIM Shipping Services Ltd. (ZIM) | -6.41 (-13.81%) | 39.99 | Industrial Goods |
Highlights and Lowlights
Major US indexes posted modest gains for the second week in a row. The SPX500 and the DJ30 rose 0.6% and 0.7% respectively, bringing them just shy of record highs set four weeks ago. The NSDQ100 added a very modest 0.5% gain.
The monthly employment report showed continued, albeit moderate, improvement in job growth and the unemployment rate, with the last two monthly gains being smaller than those for March 2021.
What’s in Store for the Week?
With the earnings season behind us and a relatively quiet calendar for next week, investors will likely focus on the pace at which the US economy continues to recover, as well as look for signs that the Fed may begin tightening its monetary policies.
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