Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Monday.com (MNDY), TaskUs Inc. (TASK), Niu Technologies (NIU), Viridian Therapeutics Inc. (VRDN) and CureVac NV (CVAC).
- Monday.com (MNDY) shares skyrocketed after the work management software provider announced strong Q2 results for its first quarter as a public company.
- TaskUs Inc. (TASK) shares surged for the second week in a row to hit an all-time high since the digital outsourcing tech company’s IPO in June.
- Niu Technologies (NIU) shares jumped after the Chinese electric scooter manufacturer released strong Q2 earnings, including promising guidance for the coming quarter.
- Viridian Therapeutics Inc. (VRDN) shares rallied to recover losses which followed the biotechnology company’s earnings release last week.
- CureVac NV (CVAC) shares were up after the German biotechnology company released upbeat preclinical data for its COVID-19 vaccine candidate trial on primates.
NASDAQ TOP-PERFORMING STOCKS
STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
Monday.com (MNDY) | 84.38 (+31.50%) | 352.28 | Technology |
TaskUs Inc. (TASK) | 9.41 (+23.52%) | 49.42 | Services |
Niu Technologies (NIU) | 3.66 (+17.21%) | 24.93 | Consumer Goods |
Viridian Therapeutics Inc. (VRDN) | 1.80 (+15.33%) | 13.58 | Consumer Goods |
CureVac NV (CVAC) | 8.02 (+13.64%) | 66.82 | Healthcare |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Macy’s Inc. (M), Bright Health Group Inc. (BHG), BJ’s Wholesale Club Holdings Inc. (BJ), Inspire Medical Systems (INSP), and Zhihu Inc. (ZH).
- Macy’s Inc. (M) shares soared after the well-known retailer announced it was bringing the Toys ‘R’ Us brand back to its stores and website.
- Bright Health Group Inc. (BHG) shares rallied following the Insurance company’s announced plans for expansion.
- BJ’s Wholesale Club Holdings Inc. (BJ) shares popped after the warehouse retailer reported its second-quarter earnings, which beat expectations.
- Inspire Medical Systems (INSP) shares gained following an analyst upgrade of the medical technology company stock.
- Shares of Zhihu Inc. (ZH), often referred to as the “Quora of China,” jumped after the company released its latest quarterly results.
NYSE TOP-PERFORMING STOCKS
STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
Macy’s Inc. (M) | 3.47 (+18.34%) | 22.39 | Consumer Goods |
Bright Health Group Inc. (BHG) | 1.50 (+17.86%) | 9.90 | Healthcare |
BJ’s Wholesale Club Holdings Inc. (BJ) | 6.61 (+13.14%) | 56.90 | Consumer Goods |
Inspire Medical Systems (INSP) | 24 (+12.72%) | 212.73 | Consumer Goods |
Zhihu Inc. (ZH) | 0.95 (+10.22%) | 10.25 | Services |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Qualigen Therapeutics Inc. (QLGN), Toughbuilt Industries Inc. (TBLT), Fate Therapeutics Inc. (FATE), Cleanspark Inc. (CLSK) and SuRo Capital Corp. (SSSS).
- Qualigen Therapeutics Inc. (QLGN) shares crashed after the healthcare company released Q2 earnings, including plans to deprioritise its COVID-19 therapy candidate, sending shares to a yearly low.
- Toughbuilt Industries Inc. (TBLT) shares plummeted after the home improvement and construction products maker released disappointing second-quarter financial results.
- Fate Therapeutics Inc. (FATE) shares tanked after the biotechnology company’s interim data from ongoing clinical trials failed to impress investors.
- Shares of cryptocurrency mining and energy technology company Cleanspark Inc. (CLSK) plunged after reporting heavy losses this quarter.
- SuRo Capital Corp. (SSSS) shares dropped over 20% this week, erasing the venture capital company’s recent gains.
NASDAQ WORST-PERFORMING STOCKS
STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
Qualigen Therapeutics Inc. (QLGN) | -0.60 (-33.71%) | 1.18 | Consumer Goods |
Toughbuilt Industries Inc. (TBLT) | -0.192 (-28.11%) | 0.491 | Industrial Goods |
Fate Therapeutics Inc. (FATE) | -19.70 (-22.72%) | 67.01 | Consumer Goods |
Cleanspark Inc. (CLSK) | -3.13 (-22.49%) | 10.79 | Consumer Goods |
SuRo Capital Corp. (SSSS) | -3.36 (-20.97%) | 31.49 | Financial |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, HEXO Corp (HEXO), Tencent Music Entertainment Group (TME), RLX Technology Inc. (RLX), F45 Training Holdings Inc. (FXLV), and Vipshop Holdings Ltd. (VIPS) all experienced negative movement over the past week.
- HEXO Corp (HEXO) shares crashed after the Canadian cannabis company announced low pricing of a new share offering, further diluting existing shareholders.
- Shares of Tencent Music Entertainment Group (TME) took a tumble after the music platform released disappointing second-quarter results.
- RLX Technology Inc. (RLX) shares collapsed after the Chinese vaping brand announced its Q2 financial results amid lingering regulatory uncertainty.
- Shares of F45 Training Holdings Inc. (FXLV) fell ahead of next week’s earnings report from the fitness centre chain.
- Vipshop Holdings Ltd. (VIPS) shares plummeted following the e-commerce company’s Q2 earnings miss.
NYSE WORST-PERFORMING STOCKS
STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
HEXO Corp (HEXO) | -1.22 (-34.46%) | 2.32 | Consumer Goods |
Tencent Music Entertainment Group (TME) | -2.34 (-23.88%) | 7.46 | Technology |
RLX Technology Inc. (RLX) | -1.11 (-22.11%) | 3.91 | Consumer Goods |
F45 Training Holdings Inc. (FXLV) | -3.82 (-22.11%) | 13.46 | Services |
Vipshop Holdings Ltd. (VIPS) | -3.04 (-18.7%) | 13.22 | Services |
Highlights and Lowlights
Despite gains made as the week closed, the US stock market posted weekly declines. Weighed down by COVID-19 concerns, as well as losses for economically sensitive industries such as banking and energy, the SPX500 was down -0.5%, and the DJ30 lost -1%. The NSDQ100 posted a -0.7% decline for the week.
Earnings season continued to provide a bright spot in market news. By now, more than 90% of SPX500 companies have released earnings for Q2 2021, with almost 87% reporting better-than-expected revenues.
What’s in Store for the Week?
We will see earnings reports from top retailer Best Buy, cloud software company Salesforce, interactive exercise bike manufacturer Peloton, and hardware company Hewlett Packard.
Investors will be closely following key economic releases in the coming week, including July’s Personal Income and Spending, which helps gauge the strength of the American consumer sector, and the PCE Price Index, a primary inflation index which helps guide Fed decisions. New insights into the US housing market, which has been cooling off recently, are also expected with the release of July’s Existing Home Sales and New Home Sales.
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