Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
On the Nasdaq Stock Market, positive results were recorded by Airbnb Inc. (ABNB), Editas Medicine Inc. (EDIT), Stitch Fix Inc. (SFIX), Sangamo Biosciences Inc. (SGMO) and Intellia Therapeutics Inc. (NTLA).
- In the first few days of trading following the company’s IPO, Airbnb Inc. (ABNB) stocks were up a whopping +178.50%.
- Editas Medicine Inc. (EDIT) stocks were boosted +78.61% off the back of news that the company had filed an Investigational New Drug Application with the US Food and Drug Administration (FDA).
- Stitch Fix Inc. (SFIX) rebounded this week, with the stock up +68.90 after the release of strong first-quarter results.
- Sangamo Biosciences Inc. (SGMO) stocks rose +23.19% following the release of promising results from early-stage trials of a new hemophilia gene therapy.
- Promising results from the company’s CRISPR gene-edited treatments saw Intellia Therapeutics Inc. (NTLA) stocks up +22.51%.
| NASDAQ TOP-PERFORMING STOCKS | |||
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Airbnb Inc. (ABNB) | 89.25 (+178.50%) | $139.40 USD | Services |
| Editas Medicine Inc. (EDIT) | 27.12 (+78.61%) | $61.77 USD | Industrial Goods |
| Stitch Fix Inc. (SFIX) | 24.50 (+68.90%) | $60.09 USD | Services |
| Sangamo Biosciences Inc. (SGMO) | 2.31 (+23.19%) | $12.30 USD | Healthcare |
| Intellia Therapeutics Inc. (NTLA) | 9.78 (+22.51%) | $53.42 USD | Industrial Goods |
New York Stock Exchange (NYSE)
The past seven days saw the value of DoorDash Inc. (DASH.US), 8×8 Inc. (EGHT), 22nd Century Group Inc. (XXII), SM Energy Co. (SM) and Arch Coal Inc. (ARCH) stocks boosted on the New York Stock Exchange.
- DoorDash Inc. (DASH.US) experienced a strong performance following the company’s IPO, with stocks up +250%.
- News that Dave Sipes, had been appointed as CEO of RingCentral, saw 8×8 Inc. (EGHT) stocks rise +50.36%.
- An order for 3.6 million variable nicotine research cigarettes by the US Food and Drug Administration (FDA) saw interest in 22nd Century Group Inc. (XXII) stocks rise, with their value boosted +50.30%.
- SM Energy Co. (SM) stocks were up +36.96%, with oil and natural gas prices rising across the board.
- Arch Coal Inc. (ARCH) stocks jumped +21.19%, although the reason behind this positive movement is currently unclear.
| NYSE TOP-PERFORMING STOCKS | |||
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| DoorDash Inc. (DASH.US) | 125.00 (+250.00%) | $177.13 USD | Logistics |
| 8×8 Inc. (EGHT) | 10.51 (+50.36%) | $31.47 USD | Services |
| 22nd Century Group Inc. (XXII) | 0.8500 (+50.30%) | $2.5701 USD | Consumer Goods |
| SM Energy Co. (SM) | 1.800 (+36.96%) | $6.616 USD | Consumer Goods |
| Arch Coal Inc. (ARCH) | 7.96 (+21.19%) | $45.70 USD | Consumer Goods |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were not so kind to Qiwi Plc. (QIWI), Reata Pharmaceuticals Inc. (RETA), StoneX Group Inc. (SNEX), Intercept Pharma (ICPT) and 9F Inc. (JFU) on the Nasdaq Stock Market.
- Qiwi Plc. (QIWI) stocks tumbled -22.92% after J.P. Morgan downgraded the stock.
- News of a class action against the company saw Reata Pharmaceuticals Inc. (RETA) stocks fall -15.59%.
- The value of StoneX Group Inc. (SNEX) stocks fell -15.55%, although the reason behind this negative movement remains unclear.
- The announcement of a class action against Intercept Pharma (ICPT) saw the company’s stocks fall -13.25%.
- 9F Inc. (JFU) stocks were down -13.21%, although the reason behind this negative movement remains unclear.
| NASDAQ WORST-PERFORMING STOCKS | |||
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Qiwi Plc. (QIWI) | -3.34 (-22.92%) | $11.24 USD | Financial |
| Reata Pharmaceuticals Inc. (RETA) | -22.00 (-15.59%) | $119.20 USD | Consumer Goods |
| StoneX Group Inc. (SNEX) | -9.98 (-15.55%) | $54.32 USD | Financial |
| Intercept Pharma (ICPT) | -4.69 (-13.25%) | $30.68 USD | Healthcare |
| 9F Inc. (JFU) | -0.2100 (-13.21%) | $1.4013 USD | Financial |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Oasis Petroleum Inc. (OAS), GameStop Corp. New (GME), Hertz Global Holdings Inc. (HTZGQ), United Natural Foods Inc. (UNFI) and Alliance Data Systems Corp. (ADS) stocks fell over the course of the past week.
- Oasis Petroleum Inc. (OAS) stocks continued their downward spiral, down -99.60% on the previous week.
- The release of less-than-impressive first-quarter results saw GameStop Corp. New (GME) stocks fall -21.24%.
- Despite some positive movement over the previous week, the value of Hertz Global Holdings Inc. (HTZGQ) stocks fell -19.65%.
- Lacklustre first-quarter results led to a -15% drop in United Natural Foods Inc. (UNFI) stock value.
- Alliance Data Systems Corp. (ADS) stocks fell -13.08% this week, although the reason behind this negative movement remains unclear.
| NYSE WORST-PERFORMING STOCKS | |||
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Oasis Petroleum Inc. (OAS) | -38.3647 (-99.60%) | $0.1556 USD | Consumer Goods |
| GameStop Corp. New (GME) | -3.59 (-21.24%) | $13.33 USD | Services |
| Hertz Global Holdings Inc. (HTZGQ) | -81.88 (-19.65%) | $1.8517 USD | Services |
| United Natural Foods Inc. (UNFI) | -10.96 (-15.00%) | $15.61 USD | Services |
| Alliance Data Systems Corp. (ADS) | -0.98 (-13.08%) | $72.62 USD | Financial |
Highlights and Lowlights
Airbnb and DoorDash Record Impressive IPO Gains
Although 2020 may almost be at a close, two of the year’s largest IPOs launched last week. The last seven days saw both Airbnb and DoorDash make their stock market debuts, with the companies enjoying impressive investor buy-ins. Soon after its launch on the Nasdaq, Airbnb stocks jumped more than 100%, with the company raising $3.7 billion to reach a $47 billion valuation, making it the largest IPO of the year. As stocks soared on the first day, DoorDash also raised close to $3.4 billion.
Tesla Passes $600 Billion Market Cap Marker
Last Monday saw Tesla reach new highs, with a 7.1% increase in stock value helping the company to become the sixth in history to pass the $600 billion market cap marker. A continued appetite for technology stocks fuelled the positive movement, with Tesla among just a handful of companies to reach the milestone. Tesla is in good company, with Facebook, Amazon, Microsoft, Apple and Alphabet (Google), all having previously passed the market cap marker.
Brexit Negotiations Stall
Despite recent discussions, trade negotiations between Britain and the European Union remain deadlocked. With Britain set to officially leave the European Union on December 31, no formal trade deals have been made yet, with the leaders of both groups doubting whether a deal will be reached in the near future. The uncertainty created by the current situation saw markets across Europe react negatively over the last week, with investors looking to mitigate what could be risky investments.
What’s in Store for the Week?
Early this week, the Federal Reserve is set to meet for the final policy meeting of 2020. Although no large changes in policy are expected, there is no certainty around what will eventuate. Whatever the outcome, there will likely be some interesting movement across stock markets, especially in the USA.
Following on from the first negative results in weeks, US stocks are predicted to bounce back over the coming week. With Pfizer’s COVID-19 vaccine starting to roll out across the country and Moderna’s vaccine set to be assessed by the US Food and Drug Administration (FDA), initial observations indicate that the positive trend seen in recent weeks will return.