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Stocks retreat in shortened week: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Paysign Inc. (PAYS), Affirm (AFRM), ProQR Therapeutics (PRQR), Globalstar (GSAT) and Peloton Interactive (PTON).

  • Paysign Inc. (PAYS) shares surged after the payment solutions provider was upgraded based on positive earnings.
  • Affirm (AFRM) shares skyrocketed after the “buy now, pay later” (BNPL) services company reported dazzling growth and strong guidance.
  • ProQR Therapeutics (PRQR) shares jumped after the clinical stage biopharmaceutical company announced a new collaboration deal with drugmaker Eli Lilly.
  • Globalstar (GSAT) shares soared as rumours of a potential deal between the satellite communications provider and Apple intensified.
  • Peloton Interactive (PTON) shares climbed after the fitness equipment company introduced a new branded line of athletic apparel.

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Paysign Inc. (PAYS) 0.860 (+34.96%) 3.32 Financial
Affirm (AFRM) 30.65 (+32.94%) 123.70 Consumer Goods
ProQR Therapeutics (PRQR) 1.29 (+18.67%) 8.20 Consumer Goods
Globalstar (GSAT) 0.400 (+18.18%) 2.60 Technology
Peloton Interactive (PTON) 15.83 (+16.06%) 114.39 Services

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Spectrum Brands Holdings Inc. (SPB), Columbia Property Trust Inc. (CXP), AMC Entertainment Holdings Inc. (AMC), Comstock Resources Inc. (CRK) and Cameco Corp. (CCJ).

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Spectrum Brands Holdings Inc. (SPB) 13.61 (+17.29%) 92.33 Conglomerates
Columbia Property Trust Inc. (CXP) 2.50 (+15.11%) 19.04 Financial
AMC Entertainment Holdings Inc. (AMC) 6.14 (+13.95%) 50.16 Consumer Goods
Comstock Resources Inc. (CRK) 0.96 (+13.60%) 8.02 Consumer Goods
Cameco Corp. (CCJ) 2.84 (+13.15%) 24.43 Basic Materials

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Couchbase Inc. (BASE), Inogen Inc. (INGN), Marathon Digital Holdings Inc. (MARA), Global-E Online Ltd. (GLBE) and Sumo Logic Inc. (SUMO).

  • Couchbase Inc. (BASE) shares plummeted after the database software expert posted mixed results in its first earnings report as a public company.
  • Shares of medical technology company Inogen Inc. (INGN) tumbled to below their 200-day moving average. 
  • Shares of cryptocurrency mining company Marathon Digital Holdings Inc. (MARA) dropped as Bitcoin and Ethereum prices fell.
  • Despite a rally after announcing a secondary offering on Thursday, shares of global e-commerce services company Global-E Online Ltd. (GLBE) were still down 15% overall this week.
  • Although Sumo Logic Inc. (SUMO) beat revenue estimates, the cloud-based data intelligence company received a downgrade from two analysts due to some concerns from its earnings report.

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Couchbase Inc. (BASE) -9.07 (-19.01%)  38.65 Technology
Inogen Inc. (INGN) -11.36 (-18.65%) 49.55 Consumer Goods
Marathon Digital Holdings Inc. (MARA) -7.67 (-17.67%)  35.74 Consumer Goods
Global-E Online Ltd. (GLBE) -12.36 (-15.52%) 67.30 Technology
Sumo Logic Inc. (SUMO) -3.19 (-15.52%) 34.54 Technology

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Riskified Inc. (RSKD), Gaotu Techedu Inc. (GOTU), ATI Physical Therapy Inc. (ATIP), Coty Inc. (COTY) and Douyu (DOYU) all experienced negative movement over the past week.

  • Riskified Inc. (RSKD) shares plunged after the fraud management company reported mixed second-quarter results which disappointed investors.
  • Gaotu Techedu Inc. (GOTU) shares tumbled after the Chinese government banned private tutors from giving online classes. 
  • ATI Physical Therapy Inc. (ATIP) shares slipped as the healthcare company dealt with a securities class-action lawsuit.
  • Coty Inc. (COTY) shares fell after the cosmetics company announced a low-priced secondary stock offering. 
  • Shares of Chinese live streaming gaming company Douyu (DOYU) dipped after China suspended approval for all new online video games in a move to curb gaming addiction in the country’s younger population. 

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Riskified Inc. (RSKD) -8.04 (-21.78%) 28.88 Services
Gaotu Techedu Inc. (GOTU) -0.51 (-16.19%) 2.64 Technology 
ATI Physical Therapy Inc. (ATIP) -0.60 (-13.19%) 3.95 Services
Coty Inc. (COTY) -1.25 (-13.19%) 8.23 Consumer Goods
Douyu (DOYU) -1.25 (-13.19%) 3.68 Technology 

 

Highlights and Lowlights

Wall Street stumbled as all three US indices experienced declines which, though modest, still made this the worst week for stocks since June. The SPX500 and NSDQ100 were down 1.7% and 1.6% respectively, and the DJ30 fell 2.1%. This downturn may not be surprising, however, considering that, on average, the stock market tends to perform the poorest in September.

 

What’s in Store for the Week?

Oracle, FuelCell, and Manchester United report earnings in a quiet week mostly devoid of corporate events. Most companies are now in their so-called “quiet periods” for the final weeks of the fiscal quarter. 

The US Consumer Price Index (CPI) report for August will be released on Tuesday. Retail sales figures from August become available on Thursday; these are expected to be low, since consumer spending fell last month amid increased COVID-19 cases, negatively affecting retail sales. Also, likely affected by COVID-19 resurgence are the University of Michigan’s Consumer Sentiment and Expectations reports for September, to be released on Friday. Preliminary data from credit card companies, airlines, and automakers seem to show that consumers continued to pull back this month as well.

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