Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Intra-Cellular Therapies Inc. (ITCI), Qualigen Therapeutics Inc. (QLGN), 22nd Century Group Inc. (XXII), HTG Molecular Diagnostics Inc. (HTGM) and REE Automotive Ltd. (REE.US).
- Intra-Cellular Therapies Inc. (ITCI) shares hit a new 52-week high after analysts upgraded the biopharmaceutical company following FDA approval of its treatment for bipolar depression.
- Qualigen Therapeutics Inc. (QLGN) shares surged after positive analyst coverage of the biotechnology company.
- 22nd Century Group Inc. (XXII) shares popped after the FDA authorised marketing of the biotech company’s reduced nicotine content cigarette as a modified risk tobacco product (MRTP).
- HTG Molecular Diagnostics Inc. (HTGM) shares jumped after an update by the healthcare company regarding expanded markets and applications for its HTG Transcriptome Panel (HTP).
- Shares of Israel-based electric vehicle start-up REE Automotive Ltd. (REE.US) climbed amid investor excitement sparked by Nikola’s tweet announcing the electric semi-truck maker’s first customer delivery.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Intra-Cellular Therapies Inc. (ITCI) | 12.49 (+31.89%) | 51.65 | Consumer Goods |
| Qualigen Therapeutics Inc. (QLGN) | 0.31 (+31.65%) | 1.29 | Consumer Goods |
| 22nd Century Group Inc. (XXII) | 0.72 (+30.90%) | 3.05 | Consumer Goods |
| HTG Molecular Diagnostics Inc. (HTGM) | 0.87 (+24.86%) | 4.37 | Consumer Goods |
| REE Automotive Ltd. (REE.US) | 0.95 (+23.23%) | 5.04 | Consumer Goods |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Fortuna Silver Mines Inc. (FSM), Embraer SA (ERJ), Carnival Corp. (CCL), Rite Aid Corp. (RAD) and CIT Group Inc. (CIT).
- Fortuna Silver Mines Inc. (FSM) shares soared after the silver miner received a 12-year extension from Mexican regulators to operate its mine in Oaxaca.
- Embraer SA (ERJ) shares jumped following news that the Brazilian aviation company will be taking its air taxi subsidiary, Eve, public via a SPAC merger with Zanite Acquisition Corp.
- Shares of cruise line operator Carnival Corp. (CCL) climbed as more data indicated that COVID-19 omicron variant infections are generally mild, allaying travel fears.
- Shares of drugstore chain Rite Aid Corp. (RAD) popped following a positive Q3 earnings report.
- CIT Group Inc. (CIT) shares were up following news that the financial holding company’s proposed merger with First Citizens BancShares had received approval from the Federal Reserve System’s Board of Governors.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Fortuna Silver Mines Inc. (FSM) | 0.77 (+23.91%) | 3.99 | Basic Materials |
| Embraer SA (ERJ) | 2.39 (+16.16%) | 17.18 | Industrial Goods |
| Carnival Corp. (CCL) | 2.92 (+15.97%) | 21.20 | Consumer Goods |
| Rite Aid Corp. (RAD) | 1.91 (+15.85%) | 13.96 | Services |
| CIT Group Inc. (CIT) | 7.30 (+15.76%) | 53.61 | Financial |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Aldeyra Therapeutics Inc. (ALDX), Adagio Therapeutics Inc. (ADGI), Vir Biotechnology Inc. (VIR), CalAmp Corp. (CAMP) and Naked Brand Group (NAKD).
- Aldeyra Therapeutics Inc. (ALDX) shares crashed after the biotech company’s dry eye disease candidate did not perform well in Phase III trials.
- Shares of Adagio Therapeutics Inc. (ADGI) fell for the third week in a row following yet another analyst downgrade.
- Vir Biotechnology Inc. (VIR) shares dropped after an analyst downgraded the antiviral drugmaker and an insider sold shares.
- CalAmp Corp. (CAMP) shares tumbled after the wireless communications company posted disappointing third-quarter earnings.
- Naked Brand Group (NAKD) shares dropped after the intimate apparel retailer announced it had completed a stock split.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Aldeyra Therapeutics Inc. (ALDX) | -2.87 (-40.77%) | 4.17 | Consumer Goods |
| Adagio Therapeutics Inc. (ADGI) | -2.82 (-24.56%) | 8.66 | Consumer Goods |
| Vir Biotechnology Inc. (VIR) | -12.17 (-22.57%) | 41.75 | Consumer Goods |
| CalAmp Corp. (CAMP) | -2.15 (-22.03%) | 7.61 | Services |
| Naked Brand Group (NAKD) | -1.36(-18.83%) | 5.86 | Consumer Goods |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, DiDi Global Inc. (DIDI), Sociedad Quimica y Minera de Chile SA (SQM), Invitae Corp. (NVTA), CarMax Inc. (KMX) and Zhihu Inc. (ZH) all experienced negative movement over the past week.
- Shares of Chinese ride-sharing giant DiDi Global Inc. (DIDI), which recently announced plans to delist its US stock, tanked as the IPO lock-up expiry date drew closer.
- Shares of lithium producer Sociedad Quimica y Minera de Chile SA (SQM) crashed after the Bank of America warned that Chile’s new far-left president could pose a threat to the lithium industry and, thus, investors in SQM.
- Invitae Corp. (NVTA) shares dropped following negative analyst coverage of the genetic testing company.
- CarMax Inc. (KMX) shares popped after the used car retailer posted strong third-quarter earnings, but then plummeted after analysts pointed out the company’s rising expenses and weak financing.
- Zhihu Inc. (ZH) shares fell following news that the Chinese tech company was in trouble with local regulators for allowing banned content on its online question-and-answer platform.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| DiDi Global Inc. (DIDI) | -0.68 (-10.83%) | 5.60 | Financial |
| Sociedad Quimica y Minera de Chile SA (SQM) | -5.78 (-10.34%) | 50.13 | Basic Materials |
| Invitae Corp. (NVTA) | -1.71 (-9.33%) | 16.61 | Consumer Goods |
| CarMax Inc. (KMX) | -11.23 (-8.16%) | 126.31 | Services |
| Zhihu Inc. (ZH) | -0.44 (-7.69%) | 5.28 | Services |
Highlights and Lowlights
US stock indices rebounded in a holiday-shortened week, making up for the previous week’s losses. The weeks since the COVID-19 Omicron variant’s discovery have been particularly volatile, with new cases rising and mixed opinions on what its impact will be. The past week was a rough ride for investors as well, but ended with gains overall. The NSDQ100 led with the largest increase of 3.1%. The SPX500 rose 2.3% and the DJ30 eked out a 0.1% gain.
What’s in Store for the Week?
Investors will be watching for a possible “Santa Claus rally” in this last trading week of the year. Historically, the markets have typically performed well in December, thanks to this phenomenon between the Christmas and New Year’s holidays when investor sentiment is generally optimistic.
Other than FuelCell Energy wrapping up earnings season, the corporate calendar is quite empty next week. Chinese tech titan Baidu will be hosting a first-of-its-kind virtual metaverse conference, a sector capturing many investors’ attention as we head into 2022.
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