Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Cytokinetics Inc. (CYTK), Couchbase Inc. (BASE), Chembio Diagnostics Inc. (CEMI), BioNTech SE (BNTX), and Moderna Inc. (MRNA).
- Cytokinetics Inc. (CYTK) shares skyrocketed following positive Phase II clinical trial results for the biotech company’s experimental heart disease drug.
- Couchbase Inc. (BASE) shares soared following the database software company’s initial public offering (IPO) on Thursday.
- Chembio Diagnostics Inc. (CEMI) shares jumped after the medical diagnostics company received a $28 million purchase order from Brazil for its rapid nasal swab COVID tests.
- Increased concerns about the Delta coronavirus variant fuelled gains for shares of COVID-19 vaccine makers BioNTech SE (BNTX) and Moderna Inc. (MRNA).
NASDAQ TOP-PERFORMING STOCKS
STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
Cytokinetics Inc. (CYTK) | 9.81 (+51.01%) | 29.04 | Consumer goods |
Couchbase Inc. (BASE) | 10.99 (+47.78%) | 33.99 | Technology |
Chembio Diagnostics Inc. (CEMI) | 0.65 (+26.97%) | 3.06 | Consumer goods |
BioNTech SE (BNTX) | 50.49 (+21.81%) | 281.96 | Consumer goods |
Moderna Inc. (MRNA) | 62.40 (+21.79%) | 348.83 | Consumer goods |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Snapchat Inc. (SNAP), Fiverr International (FVRR), Chipotle Mexican Grill Inc. (CMG), TRI Pointe Group (TPH) and Taboola.com Ltd. (TBLA).
- Snapchat Inc. (SNAP) shares soared after the social media company’s earnings report beat analysts’ estimates, posting huge growth in revenue and adjusted earnings per share.
- Although there was no major business news for Fiverr International (FVRR), the gig economy marketplace company’s stock climbed in tandem with the broader market’s rally.
- Chipotle Mexican Grill Inc. (CMG) shares skyrocketed to an all-time high after the restaurant chain topped earnings expectations and exceeded pre-pandemic profit levels.
- TRI Pointe Group (TPH) shares soared following a stronger-than-expected earnings report for the home construction company.
- Taboola.com Ltd. (TBLA) shares jumped after the digital advertising company announced a $800 million deal to acquire e-commerce media platform Connexity.
NYSE TOP-PERFORMING STOCKS
STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
Snapchat Inc. (SNAP) | 18.65 (+31.49%) | 77.87 | Technology |
Fiverr International (FVRR) | 36.62 (+17.94%) | 240.80 | Services |
Chipotle Mexican Grill Inc. (CMG) | 270.43 (+17.33%) | 1830.92 | Services |
TRI Pointe Group (TPH) | 3.18 (+16.41%) | 22.56 | Industrial Goods |
Taboola.com Ltd. (TBLA) | 1.45 (+16.38%) | 10.30 | Services |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Seres Therapeutics Inc. (MCRB), Agora Inc. (API), Adverum Biotechnologies Inc. (ADVM), Newegg Commerce Inc. (NEGG), Baozun Inc. (BZUN).
- Seres Therapeutics Inc. (MCRB) shares crashed after the biotech company reported disappointing results from a Phase IIb clinical study of its ulcerative colitis treatment.
- Agora Inc. (API) shares plummeted after the Chinese Communist Party announced new sanctions on local tech companies, causing a sell-off of many Chinese US-listed stocks.
- Adverum Biotechnologies Inc. (ADVM) shares collapsed after the gene therapy company announced it would be dropping development of its experimental diabetic macular edema treatment due to adverse effects in trial results.
- Newegg Commerce Inc. (NEGG) shares slipped as the computer hardware retailer‘s meme stock momentum faded.
- Baozun Inc. (BZUN) shares dropped after Credit Suisse dramatically downgraded the Chinese e-commerce company.
NASDAQ WORST-PERFORMING STOCKS
STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
Seres Therapeutics Inc. (MCRB) | -13.41 (-64.47%) | 7.39 | Consumer Goods |
Agora Inc. (API) | -9.16 (-26.04%) | 26.01 | Technology |
Adverum Biotechnologies Inc. (ADVM) | -0.73 (-23.62%) | 2.36 | Consumer Goods |
Newegg Commerce Inc. (NEGG) | -6.17 (-20.20%) | 24.38 | Consumer Goods |
Baozun Inc. (BZUN) | -5.93 (-18.27%) | 26.52 | Services |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, TAL Education Group ADR (TAL), GSX Techedu Inc. (GOTU), New Oriental Education & Technology Group Inc. (EDU), RLX Technology Inc. ADR (RLX) and Boston Beer Co. Inc. (SAM) stocks all experienced negative movement over the past week.
- Reports of the Chinese Communist Party’s plans to heavily regulate the local private education and tutoring industry negatively impacted the share prices of TAL Education Group ADR (TAL), GSX Techedu Inc. (GOTU) and New Oriental Education & Technology Group Inc. (EDU).
- RLX Technology Inc. ADR (RLX) shares tumbled after the Chinese vaping company reported disappointing first-quarter results.
- Boston Beer Co. Inc. (SAM) shares plunged after the beer maker’s quarterly earnings report fell short of expectations.
NYSE WORST-PERFORMING STOCKS
STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
TAL Education Group ADR (TAL) | -13.85 (-69.77%) | 6.00 | Consumer goods |
GSX Techedu Inc. (GOTU) | -7.23 (-67.26%) | 3.52 | Technology |
New Oriental Education & Technology Group Inc. (EDU) | -3.53 (-54.64%) | 2.93 | Consumer goods |
RLX Technology Inc. ADR (RLX) | -1.59 (-24.24%) | 4.97 | Consumer goods |
Boston Beer Co. Inc. (SAM) | -224.09 (-24.22%) | 701.00 | Consumer goods |
Highlights and Lowlights
Rebounding from the previous week’s dip, Wall Street once again rose to record highs, boosted by companies’ strong quarterly earnings. The DJ30 gained 1.1%, topping 35,000 points for the first time. The SPX500 gained 2%, hitting yet another record, and the NSDQ100 outperformed them both with 2.8% gains.
What’s in Store for the Week?
It’s a big week coming up for Big Tech, with Tesla, Google, Microsoft, Apple, Facebook, and Amazon all reporting earnings.
The US Federal Open Market Committee (FOMC) will announce interest rate and monetary policy decisions this coming Thursday. While the Fed is widely expected to keep interest rates unchanged at near-zero, investors will be watching discussions on winding down monetary stimulus known as “tapering” that began last month.
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