Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for TuSimple Holdings Inc. (TSP), Dynavax Technologies Corp. (DVAX), Lexicon Pharmaceuticals Inc. (LXRX), Gevo Inc. (GEVO) and Cleanspark Inc. (CLSK).
- TuSimple Holdings Inc. (TSP) shares skyrocketed as the autonomous trucking tech stock’s lockup period expired, triggering a short squeeze by traders closing out sell positions.
- Dynavax Technologies Corp. (DVAX) shares surged following the announcement of an upcoming rollout in Taiwan of the COVID-19 vaccine on which the biopharmaceutical company collaborated.
- Lexicon Pharmaceuticals Inc. (LXRX) shares jumped after the biotech company presented additional analysis of data from clinical trials of its heart failure drug candidate.
- Gevo Inc. (GEVO) shares soared after the renewable fuel company announced it had applied for permits for its key environmental project.
- With both Bitcoin and renewable stocks rallying, shares of cryptocurrency-mining and energy technology company Cleanspark Inc. (CLSK) recouped losses from the previous week.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| TuSimple Holdings Inc. (TSP) | 16.00 (+47.06%) | 50.00 | Consumer Goods |
| Dynavax Technologies Corp. (DVAX) | 4.87 (+40.45%) | 16.91 | Consumer Goods |
| Lexicon Pharmaceuticals Inc. (LXRX) | 1.14 (+32.85%) | 4.61 | Consumer Goods |
| Gevo Inc. (GEVO) | 1.60 (+32.13%) | 6.58 | Consumer Goods |
| Cleanspark Inc. (CLSK) | 3.29 (+30.49%) | 14.08 | Consumer Goods |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Laredo Petroleum Inc. (LPI), RLX Technology Inc. (RLX), Bill.com Holdings Inc. (BILL), Zomedica Corp. (ZOM) and PBF Energy Inc. (PBF).
- Many energy companies, from oil and gas to clean energy, saw double digit gains, recouping recent losses. Laredo Petroleum Inc. (LPI) and PBF Energy Inc. (PBF) were among top shares to benefit from the uptrend.
- RLX Technology Inc. (RLX) shares bounced back from last week’s losses after analysts gave the Chinese vaping company a “strong buy” rating, influenced by positive Q2 earnings and outlook statements from the company’s management.
- Bill.com Holdings Inc. (BILL) shares popped after the cloud-based payments software company missed earnings-per-share expectations, but doubled its core revenue for Q4.
- Zomedica Corp. (ZOM) shares jumped after an SEC filing revealed that major investment firm Morgan Stanley had invested more than $1.6 million in the veterinary health company.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Laredo Petroleum Inc. (LPI) | 14.64 (+38.68%) | 52.49 | Consumer Goods |
| RLX Technology Inc. (RLX) | 1.47 (+37.60%) | 5.38 | Consumer Goods |
| Bill.com Holdings Inc. (BILL) | 74.63 (+35.65%) | 283.98 | Technology |
| Zomedica Corp. (ZOM) | 0.1596 (+33.81%) | 0.6316 | Consumer Goods |
| PBF Energy Inc. (PBF) | 2.54 (+30.35%) | 10.91 | Basic Materials |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Ollie’s Bargain Outlet Holdings Inc. (OLLI), Dollar Tree Inc. (DLTR), Hain Celestial (HAIN), Children’s Place Inc. (PLCE) and Urban Outfitters Inc. (URBN).
- Ollie’s Bargain Outlet Holdings Inc. (OLLI) shares plummeted after the discount retail chain released disappointing Q2 earnings.
- Dollar Tree Inc. (DLTR) shares tumbled after the discount variety store chain released mixed second-quarter financial results, with better-than-expected earnings but worse-than-expected sales.
- Hain Celestial (HAIN) shares tanked as investors responded to the fourth-quarter fiscal 2021 miss reported by the natural products company.
- Children’s Place Inc. (PLCE) shares plunged following news of a sell-off by the childrens’ apparel company’s CEO.
- Trendy clothing and decor retailer Urban Outfitters Inc. (URBN) beat earnings estimates, yet, still gave up gains as investor sentiment was soured by losses across the retail industry.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Ollie’s Bargain Outlet Holdings Inc. (OLLI) | -10.16 (-12.29%) | 72.54 | Consumer Goods |
| Dollar Tree Inc. (DLTR) | -11.78 (-11.47%) | 90.89 | Consumer Goods |
| Hain Celestial (HAIN) | -4.19 (-10.39%) | 36.12 | Services |
| Children’s Place Inc. (PLCE) | -9.11 (-9.15%) | 90.50 | Consumer Goods |
| Urban Outfitters Inc. (URBN) | -3.27 (-8.65%) | 34.54 | Services |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Nordstrom Inc. (JWN), Blend Labs Inc. (BLND.US), Burlington Stores Inc. (BURL), Big Lots Inc. (BIG) and TAL Education Group (TAL) all experienced negative movement over the past week.
- Nordstrom Inc. (JWN) shares plunged after the upscale retailer’s Q2 results beat expectations, but still fell short of pre-pandemic performance.
- Blend Labs Inc. (BLND.US) shares tumbled after the digital finance company, which went public just last month, reported a loss of $39.6 million in the second quarter of 2021.
- Burlington Stores Inc. (BURL) shares sank after the discount retailer released Q2 financial results which, although impressive, included a warning to shareholders concerning future margins.
- Big Lots Inc. (BIG) shares fell as investors responded to the wholesale closeout retailer’s second-quarter earnings miss.
- Following a short-lived rebound for Chinese education stocks, lingering regulatory uncertainty led the sector, including TAL Education Group (TAL), to further losses.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Nordstrom Inc. (JWN) | -5.89 (-16.78%) | 29.22 | Services |
| Blend Labs Inc. (BLND.US) | -2.13 (-11.80%) | 15.92 | Technology |
| Burlington Stores Inc. (BURL) | -37.99 (-10.93%) | 309.53 | Services |
| Big Lots Inc. (BIG) | -4.45 (-7.94%) | 51.62 | Services |
| TAL Education Group (TAL) | -0.33 (-6.43%) | 4.80 | Consumer Goods |
Highlights and Lowlights
After the previous week’s disappointing declines, Wall Street rebounded strongly with new record highs. The NSDQ100 was up 2.8% and set a new record by breaching 15,000 points for the first time on Tuesday. The SPX500 gained 1.5%, and on Friday, closed the week by breaking through the 4,500-point level for the first time ever. The DJ30 gained 1%, recovering all of the ground lost earlier.
Federal Reserve Chairman Jerome Powell’s much-anticipated speech at Jackson Hole prepared markets for a gradual pullback on some stimulus, suggesting that bond purchasing will likely begin to taper later this year. Any plans for interest rate hikes are still far away, and the Fed’s soothing remarks seemed to please investors.
What’s in Store for the Week?
Although the peak of earnings season is behind us, and the corporate calendar will be cooling down ahead of the upcoming Labor Day holiday weekend, there are still top companies which will be releasing reports in the coming week. Look for earnings from Zoom, H&R Block, CrowdStrike, and Asana.
At Jackson Hole, Fed Chair Powell emphasised the need for improved job data prior to beginning bond tapering, which puts heightened focus on August’s employment report due out this coming Friday. Additional data includes the Case-Shiller Home Price Index for July, which measures home prices in top US cities, and the Institute for Supply Management’s manufacturing index for August, which is considered a key indicator of US economic activity.
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