Last Week’s Top Five Market Winners
Nasdaq Stock Market (NASDAQ)
The past seven days welcomed positive results for Adamis Pharmaceuticals Corp. (ADMP), Sunworks Inc. (SUNW), Gevo Inc. (GEVO), Qutoutiao Inc. (QTT) and Tellurian Inc. (TELL) on the Nasdaq Stock Market.
- Adamis Pharmaceuticals Corp. (ADMP) stocks were boosted ( 130.43%) after it was revealed that the company is seeking to test a new drug for the treatment of COVID-19 patients.
- Sunworks Inc. (SUNW) stocks rose 101.67% as positive momentum continued in the solar energy sector.
- The value of Gevo Inc. (GEVO) stocks was boosted 64.22% after the announcement that the company’s co-founder had been appointed as a member of President Biden’s science team.
- Qutoutiao Inc. (QTT) stocks jumped 58.22% last week, although the reason behind this positive movement remains uncertain.
- Tellurian Inc. (TELL) experienced another strong week, with stocks rising a further 54.93%.
| NASDAQ TOP-PERFORMING STOCKS | |||
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Adamis Pharmaceuticals Corp. (ADMP) | 1.0132 ( 130.43%) | $1.7916 USD | Consumer Goods |
| Sunworks Inc. (SUNW) | 11.54 ( 101.67%) | $22.87 USD | Consumer Goods |
| Gevo Inc. (GEVO) | 4.110 ( 64.22%) | $10.529 USD | Consumer Goods |
| Qutoutiao Inc. (QTT) | 1.240 ( 58.22%) | $3.361 USD | Technology |
| Tellurian Inc. (TELL) | 1.1700 ( 54.93%) | $3.3030 USD | Consumer Goods |
New York Stock Exchange (NYSE)
Strong results were recorded on the New York Stock Exchange by GameStop Corp. New (GME), TransEnterix Inc. (TRXC), GSX Techedu Inc. (GSX), BlackBerry Limited (BB) and Jumia Technologies AG (JMIA).
- GameStop Corp. New (GME) stocks continued to soar last week, rising 83.13% over the previous seven days.
- News that the company’s Intelligent Surgical Unit had been approved for use in Europe saw TransEnterix Inc. (TRXC) stocks rise 79.23%.
- An increase in COVID-19 cases in China saw the value of GSX Techedu Inc. (GSX) stocks rise 54.36%, with the remote education company’s services set to be in greater demand if further lockdowns are enforced.
- BlackBerry Limited (BB) stocks rose again last week, up a further 42.68%.
- Jumia Technologies AG (JMIA) stocks jumped a further 31.03%, although the reason behind this positive movement remains uncertain.
| NYSE TOP-PERFORMING STOCKS | |||
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| GameStop Corp. New (GME) | 29.51 ( 83.13%) | $65.63 USD | Services |
| TransEnterix Inc. (TRXC) | 1.6400 ( 79.23%) | $3.6901 USD | Consumer Goods |
| GSX Techedu Inc. (GSX) | 32.40 ( 54.36%) | $92.13 USD | Technology |
| BlackBerry Limited (BB) | 4.20 ( 42.68%) | $14.02 USD | Technology |
| Jumia Technologies AG (JMIA) | 13.49 ( 31.03) | $57.19 USD | Services |
Last Week’s Top Five Market Losers
Nasdaq Stock Market (NASDAQ)
The last seven days were less than ideal for Riot Blockchain Inc. (RIOT), Marathon Patent Group Inc. (MARA), Smith & Wesson Brands Inc. (SWBI), Fate Therapeutics Inc. (FATE) and Editas Medicine Inc. (EDIT) on the Nasdaq Stock Market.
- As the value of Bitcoin continued to fall last week, so, too, did the value of shares (-18.66%) in Riot Blockchain Inc. (RIOT), a bitcoin-mining company.
- Marathon Patent Group Inc. (MARA), a bitcoin-mining company, was also affected by Bitcoin’s declining value, with stocks falling -18.27%.
- The start of the Biden presidency led Smith & Wesson Brands Inc. (SWBI) stocks to fall -15.59% as the prospect of more restrictive firearm legislation could impact the company’s sales.
- Fate Therapeutics Inc. (FATE) stocks fell in value (-14.44%) after the company’s President and CEO, J Scott Wolchko, sold 60,000 shares.
- After analysts downgraded their forecasts for the company, the value of Editas Medicine Inc. (EDIT) stocks fell -13.67%.
| NASDAQ WORST-PERFORMING STOCKS | |||
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Riot Blockchain Inc. (RIOT) | -4.81 (-18.66%) | $20.99 USD | Consumer Goods |
| Marathon Patent Group Inc. (MARA) | -4.09 (-18.27%) | $18.30 USD | Consumer Goods |
| Smith & Wesson Brands Inc. (SWBI) | -3.30 (-15.59%) | $17.80 USD | Industrial Goods |
| Fate Therapeutics Inc. (FATE) | -16.40 (-14.44%) | $97.23 USD | Consumer Goods |
| Editas Medicine Inc. (EDIT) | -10.39 (-13.67%) | $65.73 USD | Industrial Goods |
New York Stock Exchange (NYSE)
On the New York Stock Exchange, Alcoa (AA), Transocean Ltd. (RIG), Murphy Oil Corp. (MUR), Southwestern Energy Co. (SWN) and Callon Petroleum Co. (CPE) stocks all experienced negative movement over the past week.
- Despite the release of strong earnings results, Alcoa (AA) stocks were down -16.67%, as increased operating costs and a weaker bauxite value signal challenges for the current quarter.
- Transocean Ltd. (RIG) stocks fell -16.46%, although the reason behind this negative movement remains uncertain.
- A renewed focus on climate change action and environmental protection by the Biden administration saw Murphy Oil Corp. (MUR) stocks fall -14.77%.
- The value of Southwestern Energy Co. (SWN) stocks fell -13.89% last week, although the reason behind this negative movement remains uncertain.
- After being upgraded from a ‘Hold’ rating to a ‘Sell’ rating by Siebert Williams Shank, Callon Petroleum Co. (CPE) stocks fell -13.87%.
| NYSE WORST-PERFORMING STOCKS | |||
| STOCK | WEEKLY CHANGE | CURRENT TRADING PRICE | SECTOR |
| Alcoa (AA) | -3.88 (-16.67%) | $19.42 USD | Basic Materials |
| Transocean Ltd. (RIG) | -0.540 (-16.46%) | $2.741 USD | Basic Materials |
| Murphy Oil Corp. (MUR) | -2.17 (-14.77%) | $12.53 USD | Basic Materials |
| Southwestern Energy Co. (SWN) | -0.550 (-13.89%) | $3.411 USD | Basic Materials |
| Callon Petroleum Co. (CPE) | -2.15 (-13.87%) | $13.38 USD | Consumer Goods |
Highlights and Lowlights
Executive Orders Influence Stock Performance
Although most US markets experienced largely positive movement following President Biden’s inauguration, several industries have taken a hit, fuelled by speculation over future policies and the introduction of new executive orders. Executive orders to rejoin the Paris Agreement (on climate change) and cancel the construction of the Keystone XL Pipeline saw shares in several fossil fuel producing companies, including Murphy Oil Corp. (MUR), fall over the last seven days. Some are also speculating that the president’s clean energy plan will likely see alternative energy and electric vehicle companies boosted in the coming years, further unsettling fossil fuel industry investors. Uncertainty around Biden’s next steps also led stocks in Smith and Wesson Brands Inc., a prominent firearm producer, to fall, with further gun restrictions possible under the administration.
Bumble Warns of Threats to Revenue
In the process of preparing for its IPO, Bumble has warned potential investors of the impact that Apple’s new privacy safeguards could have on the company’s future revenue. With iOS 14 users required to explicitly opt in to targeted advertising, the company expects 20% of users, at most, will choose to do so. Advertisers who choose to partner with the app are expected to face difficulty in accurately targeting and measuring campaigns, which could affect their wider performance and willingness to invest in the app.
What’s in Store for the Week?
Over the next few days, some of the world’s largest companies will be releasing their latest quarterly reports. Despite the effects of the global pandemic, political uncertainty in the United States and other factors, some companies, including Apple (AAPL), Tesla (TSLA), Microsoft (MSFT) and Facebook (FB), are expected to post largely positive results. Some companies, such as Apple, are believed to be also posting new revenue records. We may see markets continue to rally off the back of these results, with individual company stocks expected to attract a largely positive sentiment too.
Microsoft’s report is due to be shared on Tuesday evening, while Tesla, Apple and Facebook will share theirs late on Wednesday. Many other companies will be releasing quarterly reports in the coming weeks, so there may be some interesting market movement occurring based on the results provided.