A quiet week on Wall Street: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Urban One Inc. (UONE), Adamis Pharmaceuticals Corp. (ADMP), 9F Inc. (JFU), Workhorse Group Inc. (WKHS) and Canaan Inc. (CAN).

  • Urban One Inc. (UONE) shares soared amid investor anticipation of Juneteenth, which celebrates the emancipation of slaves in the US, since the minority-owned multimedia company saw a run-up last year. 
  • Adamis Pharmaceuticals Corp. (ADMP) shares jumped following a report by the National Institutes of Health (NIH) that the biotech company’s experimental drug TEMPOL could be promising as an oral treatment for COVID-19.
  • 9F Inc. (JFU) shares soared in response to a date set for shareholders to discuss changing the Chinese financial services company’s name to ‘Ether Securities, Inc.’ which would formalise its focus on brokering stocks.
  • Workhorse Group Inc. (WKHS) shares popped when the electric vehicle (EV) specialist joined a group of meme stocks favoured by Reddit users looking to pump share prices.
  • Canaan Inc. (CAN) shares were up as Bitcoin prices stabilising coincided with the mining hardware maker posting solid first-quarter results. 

 

NASDAQ TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Urban One Inc. (UONE) 5.71 (+77.69%) 13.06 Services
Adamis Pharmaceuticals Corp. (ADMP)  0.3116 (+45.26%) 1.00 Consumer goods
9F Inc. (JFU) 0.57 (+41.61%) 1.94 Financial
Workhorse Group Inc. (WKHS) 3.68 (+39.27%) 13.05 Consumer goods
Canaan Inc. (CAN) 2.57 (+30.60%) 10.97 Technology

 

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for AMC Entertainment Holdings Inc. (AMC), BlackBerry Limited (BB), Asensus Surgical Inc. (ASXC), Callon Petroleum Co. (CPE) and Cloudera Inc. (CLDR).

  • Shares of AMC Entertainment Holdings Inc. (AMC) skyrocketed after the movie theatre chain launched its new AMC Investor Connect program, which rewards shareholders with special perks.
  • BlackBerry Limited (BB) shares surged due to renewed interest in so-called “meme stocks” in which the mobility technology company was swept up.
  • Asensus Surgical Inc. (ASXC) shares soared while the medical device company’s 2021 Annual Meeting of Stockholders took place this week.
  • Callon Petroleum Co. (CPE) shares were up, along with other energy stocks, following a rally in oil prices thanks to an optimistic update from OPEC.
  • Cloudera Inc. (CLDR) shares spiked after the data software company announced a deal to be purchased by private equity firms Clayton, Dubilier & Rice and KKR.

NYSE TOP-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
AMC Entertainment Holdings Inc. (AMC) 21.79 (+83.42%) 47.91 Consumer Goods
BlackBerry Limited (BB) 3.79 (+37.64%) 13.86 Technology
Asensus Surgical Inc. (ASXC) 0.65 (+27.78%) 2.99 Consumer Goods
Callon Petroleum Co. (CPE) 9.29 (+24.15%) 47.76 Consumer Goods
Cloudera Inc. (CLDR) 2.98 (+23.17%) 15.84 Technology

 

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Globalstar (GSAT), MannKind Corp. (MNKD), iRhythm Technologies Inc. (IRTC), Veracyte Inc. (VCYT) and FireEye (FEYE).

  • Globalstar (GSAT) shares tanked this week with no recent news about the mobile satellite services provider that might have caused this volatility.
  • MannKind Corp. (MNKD) shares dropped following a report on the global dry powder inhaler device market, in which the biopharmaceutical company and its competition were analysed.
  • iRhythm Technologies Inc. (IRTC) shares sank after the cardiac care company announced that President and CEO Michael Coyle would be stepping down.
  • Veracyte Inc. (VCYT) shares dipped after the genomic diagnostics company closed a deal to acquire HalioDx. 
  • FireEye (FEYE) shares declined after the cybersecurity company announced major changes to its business, including plans to buy back $500 million in stock.

 

NASDAQ WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
Globalstar (GSAT) -0.43 (-26.88%)  1.17 Technology
MannKind Corp. (MNKD) -0.81 (-18.33%) 3.61 Consumer Goods
iRhythm Technologies Inc. (IRTC) -13.37 (-17.72%)  62.09 Consumer Goods
Veracyte Inc. (VCYT) -6.11 (-15.65%) 32.94 Consumer Goods
FireEye (FEYE) -3.45 (-15.42%) 18.92 Technology

  

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, TAL Education Group ADR (TAL), GSX Techedu Inc. (GOTU), Resolute Forest Products Inc. (RFP), Inspire Medical Systems Inc. (INSP) and ZIM Shipping Services Ltd. (ZIM) stocks all experienced negative movement over the past week.

 

NYSE WORST-PERFORMING STOCKS

STOCK WEEKLY CHANGE CURRENT TRADING PRICE SECTOR
TAL Education Group ADR (TAL) -9.97 (-24.94%) 30.00 Consumer Goods
GSX Techedu Inc. (GOTU) -4.30 (-23.19%) 14.24 Technology
Resolute Forest Products Inc. (RFP) -2.60 (-15.41%) 14.27 Consumer Goods
Inspire Medical Systems Inc. (INSP) -29.37 (-15.12%) 164.93 Consumer Goods
ZIM Shipping Services Ltd. (ZIM) -6.41 (-13.81%) 39.99 Industrial Goods

 

Highlights and Lowlights

Major US indexes posted modest gains for the second week in a row. The SPX500 and the DJ30 rose 0.6% and 0.7% respectively, bringing them just shy of record highs set four weeks ago. The NSDQ100 added a very modest 0.5% gain.

The monthly employment report showed continued, albeit moderate, improvement in job growth and the unemployment rate, with the last two monthly gains being smaller than those for March 2021.

 

What’s in Store for the Week?

With the earnings season behind us and a relatively quiet calendar for next week, investors will likely focus on the pace at which the US economy continues to recover, as well as look for signs that the Fed may begin tightening its monetary policies. 

 


Your capital is at risk.

186 views