Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week has included significant gains for Newegg Commerce Inc. (NEGG), Intellia Therapeutics Inc. (NTLA), Editas Medicine Inc. (EDIT), MicroStrategy Inc. (MSTR) and Novavax Inc. (NVAX).
- Newegg Commerce Inc. (NEGG) shares soared to hit a yearly high despite no particular news.
- Intellia Therapeutics Inc. (NTLA) shares skyrocketed after the CRISPR-focused biotech announced encouraging data from a Phase I study. Intellia’s good news also helped boost shares of Editas Medicine Inc. (EDIT), which is developing its own CRISPR gene-editing therapies.
- A rise in Bitcoin’s price boosted shares of software company and major Bitcoin holder MicroStrategy Inc. (MSTR).
- Investors were bullish on Novavax Inc. (NVAX) this week, after the biopharmaceutical company published results of its COVID-19 vaccine candidate’s Phase III clinical trial demonstrating high levels of efficacy against variants of the virus, as well as just announcing the close of a supply deal with Taiwan.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Newegg Commerce Inc. (NEGG) | 8.82 (+84.97%) | 19.20 | Consumer goods |
| Intellia Therapeutics Inc. (NTLA) | 74.89 (+84.53%) | 163.49 | Industrial goods |
| Editas Medicine Inc. (EDIT) | 12.97 (+30.98%) | 54.83 | Industrial goods |
| MicroStrategy Inc. (MSTR) | 85.56 (+15.55%) | 635.61 | Technology |
| Novavax Inc. (NVAX) | 27.43 (+14.45%) | 217.22 | Consumer goods |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Transocean Ltd. (RIG), Zhihu Inc. (ZH), Nio Inc. (NIO), Adtalem Global Education Inc. (ATGE) and Tempur Sealy (TPX).
- As oil prices continued to rise, shares of drilling specialist Transocean Ltd. (RIG) soared, recording a 52-week high.
- Zhihu Inc. (ZH) shares surged after the Chinese tech company received a positive adjustment to its Relative Strength (RS) Rating.
- Nio Inc. (NIO) shares climbed following an update that the Chinese electric vehicle (EV) maker delivered a record number of vehicles in June.
- Adtalem Global Education Inc. (ATGE) and Tempur Sealy (TPX) shares were trading higher on positive investor sentiment.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Transocean Ltd. (RIG) | 0.64 (+14.41%) | 5.08 | Basic materials |
| Zhihu Inc. (ZH) | 1.37 (+12.30%) | 12.51 | Services |
| Nio Inc. (NIO) | 5.33 (+11.83%) | 50.40 | Consumer Goods |
| Adtalem Global Education Inc. (ATGE) | 3.33 (+9.18%) | 39.61 | Consumer Goods |
| Tempur Sealy (TPX) | 3.47 (+8.95%) | 42.24 | Consumer Goods |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Arrowhead Pharmaceuticals Inc. (ARWR), Lexicon Pharmaceuticals Inc. (LXRX), Exelixis Inc. (EXEL), Novocure Ltd. (NVCR) and Pubmatic Inc. (PUBM).
- Arrowhead Pharmaceuticals Inc. (ARWR) shares plummeted on news that the biopharmaceutical company had paused clinical trials of its experimental cystic fibrosis therapy.
- Despite a rally last week for Lexicon Pharmaceuticals Inc. (LXRX) shares due to the biopharmaceutical company’s pipeline diabetes drug being highlighted in an industry symposium, shares dropped again this week. Lexicon is not currently profitable, and although its drug is hopeful, it has not yet been commercially launched.
- Shares of Exelixis Inc. (EXEL) and Novocure Ltd. (NVCR) dropped in value after each biopharmaceutical company reported disappointing clinical trial results.
- Pubmatic Inc. (PUBM) shares declined after the web advertising company’s CFO sold $1 million worth of stock.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Arrowhead Pharmaceuticals Inc. (ARWR) | -27.19 (-30.10%) | 63.13 | Consumer Goods |
| Lexicon Pharmaceuticals Inc. (LXRX) | -1.60 (-27.97%) | 4.12 | Consumer Goods |
| Exelixis Inc. (EXEL) | -5.16 (-22.03%) | 18.26 | Consumer Goods |
| Novocure Ltd. (NVCR) | -37.10 (-16.77%) | 184.15 | Consumer Goods |
| Pubmatic Inc. (PUBM) | -6.76 (-15.92%) | 35.70 | Technology |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Virgin Galactic Holdings Inc. (SPCE), 22nd Century Group Inc. (XXII), ZIM Shipping Services Ltd. (ZIM), DTE Energy Co. (DTE) and Qudian Inc. (QD) stocks all experienced negative movement over the past week.
- Virgin Galactic Holdings Inc. (SPCE) shares tanked this week after analysts downgraded the space stock, although some ground was recovered on Friday with news of CEO Richard Branson’s planned test flight on July 11th, beating out Amazon’s Jeff Bezos.
- Shares of plant-based biotechnology company 22nd Century Group Inc. (XXII) dropped after being downgraded by analysts.
- Leading shipping stocks including ZIM Shipping Services Ltd. (ZIM) were down over concerns about the effects of the pandemic on global shipping, as COVID cases began to rise again.
- DTE Energy Co. (DTE) shares were down after natural gas company DT Midstream completed its separation from the Detroit-based utilities conglomerate.
- Qudian Inc. (QD) shares dropped close to 15% this week, with an analyst consensus rating of “Hold.”
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Virgin Galactic Holdings Inc. (SPCE) | -10.97 (-19.62%) | 44.94 | Consumer Goods |
| 22nd Century Group Inc. (XXII) | -0.81 (-16.98%) | 3.96 | Consumer Goods |
| ZIM Shipping Services Ltd. (ZIM) | -7.33 (-14.98%) | 41.61 | Industrial Goods |
| DTE Energy Co. (DTE) | -19.53 (-14.88%) | 111.74 | Utilities |
| Qudian Inc. (QD) | -0.38 (-14.73%) | 2.20 | Financial |
Highlights and Lowlights
Investors had a great start to the long holiday weekend and Fourth of July celebrations, as all three of the major US indices closed the week at new highs. The SPX500 and the NSDQ100 each added to their record highs set last week, while the DJ30 eclipsed its record set almost two months ago.
Jobs reports for June were highly anticipated by Wall Street, and did not disappoint. Job growth accelerated, rebounding from previous months’ lagging recovery from the pandemic.
What’s in Store for the Week?
Levi Strauss and EHang will be reporting earnings this week. Publicly listed companies will be busy preparing their quarterly earnings reports in the coming weeks, which means investors are not expecting too much corporate news until the middle of July.
The economics calendar, however, will be quite busy. Upcoming reports on the non-manufacturing services side of the US economy, as well as the minutes from the last FOMC meeting, and a report on the jobs turnover rate are expected.
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