Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Newegg Commerce Inc. (NEGG), Stamps.com Inc. (STMP), Toughbuilt Industries, Inc. (TBLT), Overstock.com Inc. (OSTK) and Weibo Corp. (WB).
- Newegg Commerce Inc. (NEGG) shares continued to soar along with the computer parts retailer’s investor popularity as a meme stock.
- Stamps.com Inc. (STMP) shares skyrocketed following news that the shipping services leader closed a $6.6 billion cash deal to be acquired by private equity firm Thoma Bravo.
- Toughbuilt Industries, Inc. (TBLT) shares jumped following an update that the home improvement and construction tools producer had doubled its sales on Amazon for the first half of 2021.
- Overstock.com Inc. (OSTK) shares popped following news that the number of hedge funds invested in the online retailer had hit an all-time high of 31, up from 24.
- Weibo Corp. (WB) shares jumped on news that the Chinese social media platform was working on a deal that would take it private, but the company promptly denied the rumour.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Newegg Commerce Inc. (NEGG) | 27.49 (+143.18%) | 46.69 | Consumer goods |
| Stamps.com Inc. (STMP) | 125.04 (+62.77%) | 324.23 | Services |
| Toughbuilt Industries, Inc. (TBLT) | 0.293 (+38.71%) | 1.05 | Industrial goods |
| Overstock.com Inc. (OSTK) | 9.43 (+10.72%) | 97.37 | Services |
| Weibo Corp. (WB) | 5.72 (+10.53%) | 60.03 | Technology |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for BioHaven Pharmaceutical Holding Company Ltd. (BHVN), Similarweb (SMWB), Snowflake Inc. (SNOW), Affiliated Managers Group (AMG) and Virgin Galactic Holdings Inc.
- BioHaven Pharmaceutical Holding Company Ltd. (BHVN) shares were on the move following the migraine drugmaker’s better-than-expected revenue report.
- Shares of web analytics company Similarweb (SMWB), which recently went public in May, were up almost 15% for the week.
- Snowflake Inc. (SNOW) shares were up after a price dip renewed investor interest in the cloud services company.
- Affiliated Managers Group (AMG) shares soared this week following the investment management company’s announcement of its partnership with Parnassus, the largest ESG-dedicated fund manager in the US.
- Virgin Galactic Holdings Inc. shares traded higher as the spaceflight company prepared for co-founder Richard Branson’s launch into space.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| BioHaven Pharmaceutical Holding Company Ltd. (BHVN) | 17.75 (+17.79%) | 117.53 | Consumer Goods |
| Similarweb (SMWB) | 2.91 (+14.82%) | 22.55 | Services |
| Snowflake Inc. (SNOW) | 32.25 (+13.59%) | 269.49 | Services |
| Affiliated Managers Group (AMG) | 20.84 (+13.36%) | 176.78 | Financial |
| Virgin Galactic Holdings Inc. | 4.26 (+9.48%) | 49.20 | Consumer Goods |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for 360 Finance Inc. (QFIN), ACM Research Inc. (ACMR), EHang Holdings Ltd. (EH), Sharecare Inc. (SHCR) and Futu Holdings Ltd. (FUTU).
- Shares of Chinese fintech companies 360 Finance Inc. (QFIN) and Futu Holdings Ltd. (FUTU) plummeted on news that the Chinese authorities plan to increase their regulation of Chinese stocks listed on US exchanges.
- Other Chinese tech companies saw sell-offs as well, including chip-cleaning equipment maker ACM Research Inc. (ACMR) and autonomous aerial vehicle (AAV) maker EHang Holdings Ltd. (EH).
- Sharecare Inc. (SHCR) shares collapsed following the digital wellness company’s initial listing as part of a merger with special purpose acquisition company (SPAC) Falcon Capital Acquisition, but subsequently began to recover from the drop.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| 360 Finance Inc. (QFIN) | -9.43 (-26.39%) | 26.31 | Financial |
| ACM Research Inc. (ACMR) | -17.86 (-17.75%) | 82.75 | Technology |
| EHang Holdings Ltd. (EH) | -7.10 (-17.54%) | 33.37 | Industrial Goods |
| Sharecare Inc. (SHCR) | -1.56 (-16.72%) | 7.77 | Services |
| Futu Holdings Ltd. (FUTU) | -22.45 (-13.84%) | 35.70 | Financial |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Douyo (DOYU), Zhihu Inc. (ZH), Tencent Music Entertainment Group (TME), Chargepoint Holdings Inc. (CHPT) and New Oriental Education & Technology Group Inc. (EDU) stocks all experienced negative movement over the past week.
- Reports that regulators in China intend to increase restrictions and interventions on Chinese stocks listed on US exchanges negatively impacted the share prices of a number of companies, including video game streaming platform operator Douyo (DOYU), online content community platform Zhihu Inc. (ZH), music streaming service Tencent Music Entertainment Group (TME), and online tutoring company New Oriental Education & Technology Group Inc. (EDU).
- Shares of California-based electric vehicle charging provider Chargepoint Holdings Inc. (CHPT) dropped as part of a wider sell-off of speculative EV and autonomous vehicle-related stocks.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Douyo (DOYU) | -1.19 (-17.92%) | 5.45 | Technology |
| Zhihu Inc. (ZH) | -1.99 (-15.91%) | 10.52 | Services |
| Tencent Music Entertainment Group (TME) | -2.25 (-14.87%) | 10.88 | Technology |
| Chargepoint Holdings Inc. (CHPT) | -4.12 (-12.87%) | 27.90 | Industrial Goods |
| New Oriental Education & Technology Group Inc. (EDU) | -0.97 (-12.81%) | 6.60 | Consumer goods |
Highlights and Lowlights
Despite some tense moments, Wall Street closed the holiday-shortened week triumphantly, with all three US indices topping last week’s all-time highs. The SPX500 and the NSDQ100 each gained 0.4% to mark a three-week winning streak, and the DJ30 added 0.3% to beat last week’s record.
What’s in Store for the Week?
An action-packed week of earnings kicks off with these “Big Banks” reporting this week: Bank of America, Citigroup, JPMorgan Chase and Goldman Sachs. Corporate second-quarter earnings will be released by PepsiCo, Wells Fargo, and Delta Air Lines.
Analysts have predicted a 69% jump in second-quarter earnings for SPX500 companies over last year’s, back when the economy was just beginning to face the challenges of a global pandemic. Investors are looking forward to growth in quarterly earnings as well, possibly making it the largest increase of the decade.
Investors will be looking for clues on inflation with the release of the monthly US Consumer Price Index (CPI) report on Tuesday. The concern is whether June’s reading will show a year-over-year (YOY) price spike as it did a month earlier, when May’s reading had the highest YOY increase since August 2008.
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