Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Zynga (ZNGA), iRhythm Technologies Inc. (IRTC), BioCryst Pharmaceuticals Inc. (BCRX), Digital World Acquisition Corp. (DWAC) and Canaan Inc. (CAN).
- Zynga (ZNGA) shares soared after global gaming giant Take-Two Interactive announced a $12.7 billion deal to acquire the social game developer.
- iRhythm Technologies Inc. (IRTC) shares surged following an analyst upgrade for the heart monitor maker.
- BioCryst Pharmaceuticals Inc. (BCRX) shares popped after the drugmaker announced upbeat preliminary sales figures for its hereditary angioedema treatment.
- Shares of SPAC company Digital World Acquisition Corp. (DWAC) continued to climb after reports revealed that partner TRUTH Social, Donald Trump’s social media platform, plans to launch in February.
- Shares of crypto miner Canaan Inc. (CAN) rose as the price of Bitcoin climbed higher this week.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Zynga (ZNGA) | 2.96 (+49.33%) | 8.96 | Technology |
| iRhythm Technologies Inc. (IRTC) | 39.15 (+38.40%) | 141.10 | Consumer Goods |
| BioCryst Pharmaceuticals Inc. (BCRX) | 3.92 (+33.91%) | 15.48 | Consumer Goods |
| Digital World Acquisition Corp. (DWAC) | 16.90 (+31.31%) | 70.88 | Financial |
| Canaan Inc. (CAN) | 1.01 (+21.63%) | 5.68 | Technology |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Blue Apron Holdings Inc. (APRN), KB Home (KBH), Nabors Industries Ltd. (NBR), W&T Offshore Inc. (WTI) and ATI Physical Therapy Inc. (ATIP).
- Blue Apron Holdings Inc. (APRN) shares soared 25% as investor sentiment for the meal kit company turned bearish.
- KB Home (KBH) shares surged after the homebuilder reported better-than-expected earnings.
- Shares of drilling companies Nabors Industries Ltd. (NBR) and W&T Offshore Inc. (WTI) were up as the price of oil continued to rally.
- ATI Physical Therapy Inc. (ATIP) shares popped after investment bank Jefferies Group LLC upgraded the health solutions and sports medicine specialist.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Blue Apron Holdings Inc. (APRN) | 1.60 (+25.08%) | 7.98 | Consumer Goods |
| KB Home (KBH) | 9.28 (+23.34%) | 49.04 | Consumer Goods |
| Nabors Industries Ltd. (NBR) | 20.26 (+21.38%) | 115.02 | Consumer Goods |
| W&T Offshore Inc. (WTI) | 0.76 (+20.94%) | 4.39 | Consumer Goods |
| ATI Physical Therapy Inc. (ATIP) | 0.64 (+20.58%) | 3.75 | Services |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Exela Technologies Inc. (XELA), Pacific Biosciences of California Inc. (PACB), 1Life Healthcare Inc. (ONEM), CureVac (CVAC) and Cenntro Electric Group Limited (CENN).
- Exela Technologies Inc. (XELA) shares fell after the global business process automation (BPA) leader reported earnings which failed to impress investors.
- Pacific Biosciences of California Inc. (PACB) shares plunged after the genome sequencing specialist reported lower-than-expected unaudited fourth-quarter revenue.
- 1Life Healthcare Inc. (ONEM) shares dropped following news that a hedge fund had decreased its stake in the healthcare clinic chain.
- CureVac (CVAC) shares slipped following news that investment company dievini Hopp BioTech Holding & Co. planned to sell a large block of the vaccine maker’s stock.
- Cenntro Electric Group Limited (CENN) shares plummeted after the lingerie-turned-electric-vehicle company’s Securities and Exchange Committee (SEC) filing revealed a previously unknown lock-up period for outstanding shares.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Exela Technologies Inc. (XELA) | -0.1925 (-27.46%) | 0.5085 | Technology |
| Pacific Biosciences of California Inc. (PACB) | -4.33 (-25.84%) | 12.43 | Consumer Goods |
| 1Life Healthcare Inc. (ONEM) | -3.24 (-21.04%) | 12.16 | Technology |
| CureVac (CVAC) | -6.20 (-20.21%) | 24.48 | Healthcare |
| Cenntro Electric Group Limited (CENN) | -0.80 (-20.10%) | 3.18 | Consumer Goods |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Rush Street Interactive Inc. (RSI), Virgin Galactic Holdings Inc. (SPCE), Coupang Inc. (CPNG), GameStop Corp. (GME) and Ameresco Inc. (AMRC) all experienced negative movement over the past week.
- Although online gambling company Rush Street Interactive Inc. (RSI) was among four companies allowed to begin processing bets in New York, its shares plummeted after CNBC Mad Money host Jim Cramer advised investors to wait on online sports betting stocks.
- Virgin Galactic Holdings Inc. (SPCE) shares plunged following news that the space tourism company plans to raise up to $500 million in new debt, which could mean dilution for shareholders.
- Shares of South Korean e-commerce giant Coupang Inc. (CPNG) and video game retailer GameStop Corp. (GME) fell as investors’ negative sentiment towards growth stocks deepened.
- Ameresco Inc. (AMRC) shares continued to drop despite bullish ratings from analysts for the renewable energy company.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Rush Street Interactive Inc. (RSI) | -3.37 (-22.33%) | 11.72 | Consumer Goods |
| Virgin Galactic Holdings Inc. (SPCE) | -2.31 (-18.55%) | 10.14 | Consumer Goods |
| Coupang Inc. (CPNG) | -4.76 (-18.33%) | 21.21 | Technology |
| GameStop Corp. (GME) | -23.97 (-17.05%) | 116.65 | Services |
| Ameresco Inc. (AMRC) | -10.86 (-15.97%) | 57.13 | Consumer Goods |
Highlights and Lowlights
As a new earnings season got under way, many companies seem to have been affected by labour shortages, and financial sector earnings were mixed. Consumer inflation in December rose at the fastest rate in nearly forty years, and in the preliminary Consumer Sentiment Index for January, one third of consumers said they were worse off financially than a year ago.
With concerns about inflation and interest rate hikes still weighing heavily on investors, US stock markets continued their retreat — but all things considered, the dip was quite modest. The SPX500 and the NSDQ100 each slipped -0.3%, while the DJ30 dropped -0.9%.
What’s in Store for the Week?
US markets are closed today, Monday, in observance of Martin Luther King Jr. Day. After which, the “big banks” earnings continue with Charles Schwab, Goldman Sachs, Bank of America, and Morgan Stanley reporting. Procter & Gamble, United Airlines and Netflix will release earnings this week as well.
Investors can expect several updates on the housing market in an otherwise quiet week for economic data, as Fed officials enter a blackout period ahead of the upcoming January 26th FOMC meeting.
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