Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Moderna Inc. (MRNA), 360 Finance Inc. (QFIN), Inmode Ltd. (INMD), BioNTech SE (BNTX), and Cargurus Inc (CARG).
- Moderna Inc. (MRNA) shares surged 23% as the biotech company was set to join the SPX500.
- After a 4-week decline in its shares, the digital consumer finance platform 360 Finance Inc. (QFIN) saw a jump following a class-action lawsuit.
- Inmode Ltd. (INMD) traded higher after the medical services company announced it was expecting a record second-quarter revenue of $86.5–$87 million.
- BioNTech SE (BNTX) shares popped after a study revealed that the Pfizer-BioNTech mRNA-based Covid 19 vaccine generated ten times more antibodies than that of Sinovac.
- Cargurus Inc. (CARG) shares jumped after Zacks Investment Research upgraded the online automotive marketplace rating from a “sell” to a ”hold.”
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Moderna Inc. (MRNA) | 53.62 (+23.03%) | 286.43 | Consumer goods |
| 360 Finance Inc. (QFIN) | 3.28 (+12.47%) | 29.59 | Financial |
| Inmode Ltd. (INMD) | 9.65 (+10.04%) | 105.79 | Consumer goods |
| BioNTech SE (BNTX) | 14.07 (+6.47%) | 231.47 | Consumer goods |
| Cargurus Inc. (CARG) | 1.65 (+6.39%) | 27.46 | Services |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Covanta Holdings (CVA), Kadmon Holdings Inc. (KDMN), America Movil, S.A.B. de C.V. (AMX), ABM Industries Inc. (ABM) and Cia de Saneamento Basico do Estado de Sao Paulo (SBS).
- Waste management company Covanta Holdings (CVA)’s shares were on the move following an acquisition announcement by global investment organization EQT Infrastructure.
- Kadmon Holdings Inc. (KDMN) shares traded higher following the FDA marketing approval granted to the biopharmaceutical company’s treatment for chronic graft-versus-host disease (cGVHD).
- America Movil, S.A.B. de C.V. (AMX) shares were up after Q2 earnings surpassed estimates.
- Facility management company ABM Industries Inc. (ABM) shares soared this week after short interest decreases.
- Cia de Saneamento Basico do Estado de Sao Paulo (SBS), AKA Sabesp, saw shares trade higher as the water and sewage services company experienced major price movements in the Brazilian market.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Covanta Holdings (CVA) | 2.26 (+12.73%) | 20.01 | Consumer Goods |
| Kadmon Holdings Inc. (KDMN) | 0.39 (+10.03%) | 4.28 | Services |
| America Movil, S.A.B. de C.V. (AMX) | 1.21 (+8.18%) | 16.00 | Services |
| ABM Industries Inc. (ABM) | 3.32 (+7.70%) | 46.42 | Financial |
| Cia de Saneamento Basico do Estado de Sao Paulo (SBS) | 0.50 (+7.39%) | 7.27 | Consumer Goods |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Toughbuilt Industries, Inc. (TBLT), Newegg Commerce Inc. (NEGG), SHOALS TECHNOLOGIES GROUP – A (SHLS), Jaguar Health Inc. (JAGX), and Urban One Inc. (UONE).
- Toughbuilt Industries, Inc. (TBLT) shares plunged following a $40 million direct offering announcement by the product developer.
- Online retail company Newegg Commerce Inc. (NEGG) and multimedia company Urban One Inc. (UONE) both gained popularity as meme stocks, but with no significant basis for their shares to climb, this week they dropped 34.57% and 19.98% respectively.
- Shares of solar energy solutions SHOALS TECHNOLOGIES GROUP – A (SHLS) plummeted following an announcement of pricing of an underwritten public offering.
- Pharmaceutical company Jaguar Health Inc. (JAGX)’s shares plummeted after completion of a study evaluating its drug Mytesi.
- Media company Urban One Inc. (UONE) shares remained volatile and saw a 19.98% dip this week.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Toughbuilt Industries, Inc. (TBLT) | -0.43 (-41.42%) | 0.61 | Industrial Goods |
| Newegg Commerce Inc. (NEGG) | -16.14 (-34.57%) | 30.55 | Consumer Goods |
| SHOALS TECHNOLOGIES GROUP – A (SHLS) | -8.27 (-23.37%) | 27.11 | Basic Materials |
| Jaguar Health Inc. (JAGX) | -0.34 (-20.61%) | 1.31 | Consumer Goods |
| Urban One Inc. (UONE) | -1.80 (-19.98%) | 7.21 | Services |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Virgin Galactic Holdings Inc. (SPCE), PBF Energy Inc. (PBF), 3D Systems Corp. (DDD), Glaukos Corp. (GKOS), and Laredo Petroleum Inc. (LPI) stocks all experienced negative movement over the past week.
- After its first flight into space last week, Virgin Galactic Holdings Inc. (SPCE) shares dropped this week, as the company has yet to produce a profit.
- Despite soaring over the first six months of the year, petroleum refineries company PBF Energy Inc. (PBF) shares plunged this week following an analyst downgrade.
- Shares of 3D printing company 3D Systems Corp. (DDD) dropped following news that competitor Desktop Metal had acquired Belgian company Aerosint.
- Pharmaceutical company Glaukos Corp. (GKOS) shares plummeted following the release of the 2022 Medicare fees.
- Laredo Petroleum Inc. (LPI) shares dropped this week following the energy company’s purchase agreement with Wells Fargo.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Virgin Galactic Holdings Inc. (SPCE) | -19.00 (-38.62%) | 30.20 | Consumer Goods |
| PBF Energy Inc. (PBF) | -3.62 (-27.10%) | 9.74 | Basic materials |
| 3D Systems Corp. (DDD) | -9.11 (-26.47%) | 25.30 | Technology |
| Glaukos Corp. (GKOS) | -19.46 (-25.45%) | 57.01 | Consumer Goods |
| Laredo Petroleum Inc. (LPI) | -20.37 (-24.51%) | 59.92 | Consumer Goods |
Highlights and Lowlights
After reaching all-time highs, this week was slower for all three US indices. The DJ30 dropped 0.5%, the SPX500 dropped 1% and the NSDQ100 dropped 1.9%.
Only 8% of SPX500 companies have reported their Q2 earnings, but of these, 85% of them have exceeded analysts’ estimates with their earning reports.
What’s in Store for the Week?
Earnings season continues with highly anticipated reports from United Airlines Holdings (UAL), Coca-Cola (KO), Johnson & Johnson (JNJ) and Netflix (NFLX).
The US housing market is due to be at the forefront of events next week, as economic reports on housing starts, mortgage applications, building permits, and existing home sales are set for release. After taking a dip in April, US housing starts bounced 3.6% despite the rising costs of labour and materials.
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