Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past week included significant gains for Zogenix Inc. (ZGNX), Activision Blizzard, Inc. (ATVI), WiMi Hologram Cloud Inc. (WIMI), MoneyGram International Inc. (MGI) and Adagio Therapeutics Inc. (ADGI).
- Zogenix Inc. (ZGNX) shares soared following news that the biotech company would be acquired by Belgium-based pharmaceutical company UCB (Union Chimique Belge) in a $1.9 billion deal.
- Activision Blizzard, Inc. (ATVI) shares surged in anticipation of Microsoft’s $68.7 billion all-cash deal to buy the games publisher, which would make Microsoft one of the largest video game companies in the world.
- WiMi Hologram Cloud Inc. (WIMI) shares popped after the augmented reality company announced that its metaverse holographic glasses had been approved for the US market.
- MoneyGram International Inc. (MGI) shares climbed after the payment services provider announced a partnership with global fintech company Digital Wallet Corporation of Japan, owner of the Smiles mobile money transfer app.
- Adagio Therapeutics Inc. (ADGI) shares rose after the biotech company’s clinical trial data showed that its monoclonal antibody (mAb) therapy was effective against the Omicron coronavirus variant.
NASDAQ TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Zogenix Inc. (ZGNX) | 10.05 (+63.09%) | 25.98 | Consumer Goods |
| Activision Blizzard, Inc. (ATVI) | 15.96 (+24.41%) | 81.35 | Technology |
| WiMi Hologram Cloud Inc. (WIMI) | 0.58 (+21.48%) | 3.28 | Technology |
| MoneyGram International Inc. (MGI) | 1.11 (+14.10%) | 8.98 | Consumer Goods |
| Adagio Therapeutics Inc. (ADGI) | 0.59 (+10.35%) | 6.29 | Consumer Goods |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange for Gaotu Techedu Inc. (GOTU), Renren Inc. (RENN), Harmony Gold Mining Co Ltd (HMY), Centrais Eletricas Brasileiras (EBR) and Stevanato Group S.p.A (STVN).
- Chinese stocks, including those of online tutoring company Gaotu Techedu Inc. (GOTU) and social networking platform Renren Inc. (RENN), rallied following interest rate cuts by the People’s Bank of China.
- Harmony Gold Mining Co Ltd (HMY) shares surged as the price of gold moved higher.
- Shares of Centrais Eletricas Brasileiras (EBR), Latin America’s largest electric utility company, were up as the utilities sector, typically considered less risky by investors, held up better than the rest of the market.
- Stevanato Group S.p.A (STVN) shares increased ahead of the vaccine vial maker’s upcoming earnings release.
NYSE TOP-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Gaotu Techedu Inc. (GOTU) | 0.44 (+24.31%) | 2.25 | Technology |
| Renren Inc. (RENN) | 2.26 (+11.60%) | 21.74 | Technology |
| Harmony Gold Mining Co Ltd (HMY) | 0.36 (+9.68%) | 4.08 | Basic Materials |
| Centrais Eletricas Brasileiras (EBR) | 0.44 (+7.65%) | 6.19 | Utilities |
| Stevanato Group S.p.A (STVN) | 1.26 (+7.34%) | 18.43 | Consumer Goods |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Arrival (ARVL), Cenntro Electric Group Limited (CENN), TaskUs Inc. (TASK), Nikola Corp. (NKLA) and Riot Blockchain Inc. (RIOT).
- Shares of electric vehicle (EV) start-ups Arrival (ARVL), Cenntro Electric Group Limited (CENN) and Nikola Corp. (NKLA) fell amid an ongoing tech sell-off, including of EV companies, by investors.
- Shares of online customer service company TaskUs Inc. (TASK) plunged after the release of a short report which spooked investors.
- Shares of Bitcoin miner Riot Blockchain Inc. (RIOT) continued to drop as crypto prices crashed.
NASDAQ WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Arrival (ARVL) | -2.27 (-33.81%) | 4.43 | Consumer Goods |
| Cenntro Electric Group Limited (CENN) | -0.98 (-30.82%) | 2.20 | Consumer Goods |
| TaskUs Inc. (TASK) | -11.91 (-29.26%) | 28.79 | Services |
| Nikola Corp. (NKLA) | -2.78 (-27.58%) | 7.30 | Consumer Goods |
| Riot Blockchain Inc. (RIOT) | -5.69 (-27.49%) | 15.00 | Consumer Goods |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Silvergate Capital Co. (SI), United States Steel Corp. (X), QuantumScape Corporation (QS), AgEagle Aerial Systems Inc. (UAVS) and Cleveland-Cliffs Inc. (CLF.US) all experienced negative movement over the past week.
- Silvergate Capital Co. (SI) shares plummeted after the crypto bank released earnings which missed analysts’ estimates for the first time since going public.
- Shares of steelmakers United States Steel Corp. (X) and Cleveland-Cliffs Inc. (CLF.US) plunged along with falling steel prices.
- Shares of electric-vehicle (EV) battery maker QuantumScape Corporation (QS) fell as investors continued to sell off EV industry stocks.
- AgEagle Aerial Systems Inc. (UAVS) shares dropped amid news of the drone company’s change in CEO.
NYSE WORST-PERFORMING STOCKS
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Silvergate Capital Co. (SI) | -43.32 (-31.47%) | 94.36 | Financial |
| United States Steel Corp. (X) | -6.14 (-24.18%) | 19.25 | Basic Materials |
| QuantumScape Corporation (QS) | -4.96 (-23.98%) | 15.72 | Consumer Goods |
| AgEagle Aerial Systems Inc. (UAVS) | -0.35 (-23.81%) | 1.12 | Industrial Goods |
| Cleveland-Cliffs Inc. (CLF.US) | -5.07 (-22.99%) | 57.13 | Basic Materials |
Highlights and Lowlights
Wall Street saw its third straight week in the red, with US indices posting their worst weekly declines since early in the pandemic, as investors worried about a myriad of issues — above all, rising interest rates and disappointing earnings.
The NSDQ100 dropped by -7.6%, more than 14% below November’s highs. The SPX500 gave up -5.7% and the DJ30 fell -4.5%.
What’s in Store for the Week?
The week ahead is packed with earnings releases from some of the world’s top companies, including Apple, IBM, Microsoft, Johnson & Johnson and Tesla.
The Federal Reserve, under pressure to raise interest rates soon in order to slow inflation, will hold its first Federal Open Market Committee (FOMC) meeting for 2022. Investors will be watching Wednesday’s press conference closely for more information from Chairman Jerome Powell on the multiple rate hikes expected this year and when they will come.
Join eToro Today
Your capital is at risk.