Last Week’s Top Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Crowdstrike Holdings (CRWD), NetEase, Inc. (NTES) and Douyu (DOYU).
- Crowdstrike Holdings (CRWD) shares soared after Morgan Stanley analysts upgraded the cybersecurity expert.
- Shares of Chinese online gaming leader NetEase, Inc. (NTES) and live-streaming gaming company Douyu (DOYU) popped following news that the Chinese government had approved a second group of domestic licenses for video games.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Crowdstrike Holdings (CRWD) | 7.22 (+4.45%) | 169.32 | Technology |
| NetEase, Inc. (NTES) | 3.26 (+3.18%) | 105.65 | Technology |
| Douyu (DOYU) | 0.03 (+2.44%) | 1.26 | Technology |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Gaotu Techedu Inc. (GOTU), New Oriental Education & Technology Group Inc. (EDU), DiDi Global Inc. (DIDI), RLX Technology Inc. (RLX) and TAL Education Group (TAL).
- Chinese stocks, including shares of online tutoring companies Gaotu Techedu Inc. (GOTU), New Oriental Education & Technology Group Inc. (EDU) and TAL Education Group (TAL), ride-hailing giant DiDi Global Inc. (DIDI, and vaping company RLX Technology Inc. (RLX) rallied following the Chinese government’s easing of regulations on local tech firms as well as of Covid restrictions.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Gaotu Techedu Inc. (GOTU) | 0.47 (+35.61%) | 1.79 | Technology |
| New Oriental Education & Technology Group Inc. (EDU) | 3.36 (+26.15%) | 16.21 | Consumer Goods |
| DiDi Global Inc. (DIDI) | 0.44 (+23.78%) | 2.29 | Financial |
| RLX Technology Inc. (RLX) | 0.42 (+22.34%) | 2.30 | Consumer Goods |
| TAL Education Group (TAL) | 0.75 (+18.99%) | 4.70 | Consumer Goods |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Gevo Inc. (GEVO), Tilray Brands Inc. (TLRY), Warner Bros Discovery Inc. (WBD), Aurora Cannabis Inc. (ACB) and MercadoLibre, Inc. (MELI).
- Gevo Inc. (GEVO) shares tanked after the renewable fuels company announced a $150 million common stock direct offering.
- Investor sentiment towards growth stocks, and cannabis stocks in particular, plunged — as did shares of Tilray Brands Inc. (TLRY) and Aurora Cannabis Inc. (ACB) — as inflation data continued to create fear and uncertainty.
- Following a rare downgrade for streaming giant Netflix, other streaming stocks, including those of Warner Bros Discovery Inc. (WBD), tumbled as well. Investors have been wary that such services will continue to lose subscribers as sky-high fuel, food and rent prices eat up household budgets.
- MercadoLibre, Inc. (MELI) shares slid after investment bank Citigroup cut its price target on the Latin American e-commerce giant.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Gevo Inc. (GEVO) | -1.75 (-38.29%) | 2.82 | Consumer Goods |
| Tilray Brands Inc. (TLRY) | -0.82 (-19.52%) | 3.38 | Healthcare |
| Warner Bros Discovery Inc. (WBD) | -2.64 (-15.09%) | 14.86 | Services |
| Aurora Cannabis Inc. (ACB) | -0.21 (-13.21%) | 1.38 | Healthcare |
| MercadoLibre, Inc. (MELI) | -97.21 (-12.32%) | 691.69 | Services |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Zendesk, Inc. (ZEN.US), Hippo Holdings Inc. (HIPO), Q2 Holdings, Inc. (QTWO), Pagseguro Digital Ltd. (PAGS) and ZIM Integrated Shipping Services (ZIM) all experienced negative movement over the past week.
- Zendesk, Inc. (ZEN.US) shares dropped following news that the customer service software company had failed to find a buyer despite reports of multiple bids.
- Hippo Holdings Inc. (HIPO) shares plunged after the home insurance company announced that the current CEO, founder Assaf Wand, was being replaced.
- Q2 Holdings, Inc. (QTWO) shares plummeted after the fintech company reportedly put plans to solicit acquisition offers on hold after bids came in too low.
- Pagseguro Digital Ltd. (PAGS) shares sank after the Brazilian fintech company’s earnings failed to impress investors.
- Shares of container freight operator ZIM Integrated Shipping Services (ZIM) tumbled as global stagflation worries sparked a sell-off of shipping industry stocks.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Zendesk, Inc. (ZEN.US) | -24.81 (-27.63%) | 64.97 | Technology |
| Hippo Holdings Inc. (HIPO) | -0.34 (-24.46%) | 1.05 | Financial |
| Q2 Holdings, Inc. (QTWO) | -12.97 (-24.39%) | 40.20 | Services |
| Pagseguro Digital Ltd. (PAGS) | -0.37 (-13.86%) | 12.39 | Financial |
| ZIM Integrated Shipping Services (ZIM) | -2.46 (-10.74%) | 52.13 | Industrial Goods |
Highlights and Lowlights
Stock prices took a beating as markets continued to be driven by inflation concerns and negative consumer sentiment. The NSDQ100 registered the steepest declines, plunging -5.6%. The DJ30 and SPX500 lost -4.6% and -5% respectively.
What’s in Store for the Week?
Earnings season is winding down, with few reports remaining. Watch for releases from Oracle, Adobe and Kroger. Check out eToro’s Earnings Reports Calendar for all of the details and to stay up to date.
The Fed holds its two-day June policy meeting on Tuesday and Wednesday, with a rate hike of 50 points expected. May’s retail sales will be released Wednesday, providing an indication of consumer buying amid 40-year high inflation, and the Producer Price Index (PPI) will be released on Tuesday.