Weekly Stock Market Update: Tesla Beats 2020 Delivery Estimates

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week proved positive for BioNano Genomics Inc. (BNGO), Canaan Inc. (CAN), Riot Blockchain Inc. (RIOT), CleanSpark Inc. (CLSK) and Pinduoduo Inc. (PDD) on the Nasdaq Stock Market.

  • News that BioNano Genomics Inc. (BNGO) would be granted a 180-day compliance extension by Nasdaq saw the value of the company’s stocks jump +336.88%.
  • Seeming to move in line with the cryptocurrency market, Canaan Inc. (CAN) stocks experienced a +58.98% week on week growth.
  • Riot Blockchain Inc. (RIOT) stocks also followed the trends of the cryptocurrency market, boosted +29.50% over the past week.
  • Strong revenue growth led to a strong week on week result for CleanSpark Inc. (CLSK), with stocks up +16.81%.
  • Pinduoduo Inc. (PDD) continued to make strong ground last week, with stock value jumping +16.31%.
NASDAQ TOP-PERFORMING STOCKS
STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
BioNano Genomics Inc. (BNGO)2.3750 (+336.88%)$3.0527 USDConsumer Goods
Canaan Inc. (CAN)2.20 (+58.98%)$5.94 USDTechnology
Riot Blockchain Inc. (RIOT)3.87 (+29.50%)$17.02 USDConsumer Goods
CleanSpark Inc. (CLSK)4.18 (+16.81%)$29.09 USDConsumer Goods
Pinduoduo Inc. (PDD)24.92 (+16.31%)$177.92 USDConsumer Goods

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange by Chesapeake Energy Corp. (CHK), Yelp Inc. (YELP), Superior Energy Services Inc. (SPN), Adecoagro S.A. (AGRO) and DXC Technology Co. (DXC).

  • Chesapeake Energy Corp. (CHK) is up +490.38% week on week, although the reason behind this positive movement remains unclear.
  • As COVID-19 vaccines continue to roll out across the globe, optimistic sentiment saw the value of Yelp Inc. (YELP) stocks rise +16.64%.
  • Superior Energy Services Inc. (SPN) stocks were up +14.80% this week, although the reason behind this positive movement remains unclear.
  • Adecoagro S.A. (AGRO) also saw some strong growth over the course of the week, up +13.33%. At the present time, the reason behind this positive movement remains unclear.
  • Last week saw DXC Technology Co. (DXC) stocks jump +12.45%, with the company starting to show strong growth after a lacklustre year.
NYSE TOP-PERFORMING STOCKS
STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Chesapeake Energy Corp. (CHK)9.71 (+490.38%)$11.80 USDBasic Materials
Yelp Inc. (YELP)4.66 (+16.64%)$32.75 USDTechnology
Superior Energy Services Inc. (SPN)0.1199 (+14.80%)$0.2556 USDBasic Materials
Adecoagro S.A. (AGRO)0.80 (+13.33%)$6.95 USDConsumer Goods
DXC Technology Co. (DXC)2.85 (+12.45%)$25.82 USDTechnology

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The past week was less than ideal for Caesars Entertainment Corp. (CZRdel), Editas Medicine Inc. (EDIT), Vaxart Inc. (VXRT), Dynavax Technologies Corp. (DVAX) and Overstock.com, Inc. (OSTK) on the Nasdaq Stock Market.

  • Caesars Entertainment Corp. (CZRdel) stocks fell -83.69%, although the reason behind this negative movement remains unclear.
  • Editas Medicine Inc. (EDIT) stocks fell -15.86% off the back of a broader biotech sell-off.
  • The broader biotech sell-off also impacted Vaxart Inc. (VXRT), with stocks falling -15.78%.
  • Dynavax Technologies Corp. (DVAX) stocks were also affected by the biotech sell-off, with their value dropping -15.72%.
  • Last week saw Overstock.com, Inc. (OSTK) stocks stumble, down -15.49%. The reason behind this negative movement remains unclear.
NASDAQ WORST-PERFORMING STOCKS
STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Caesars Entertainment Corp. (CZRdel)-63.47 (-83.69%)$12.40 USDServices
Editas Medicine Inc. (EDIT)-13.21 (-15.86%)$70.26 USDIndustrial Goods
Vaxart Inc. (VXRT)-1.07 (-15.78%)$5.71 USDConsumer Goods
Dynavax Technologies Corp. (DVAX)-0.83 (-15.72%)$4.45 USDConsumer Goods
Overstock.com, Inc. (OSTK)-8.79 (-15.49%)$48.09 USDServices

New York Stock Exchange (NYSE)

On the New York Stock Exchange, Oasis Petroleum Inc. (OAS), Oi SA (OIBR), Hertz Global Holdings Inc. (HTZGQ), Palantir (PLTR) and Blue Apron Holdings Inc. (APRN) stocks all experienced negative movement over the past week.

  • The value of Oasis Petroleum Inc. (OAS) stocks fell once again, down -99.58% on the previous week.
  • Oi SA (OIBR) stocks took a tumble, falling -17.74%, although the reason behind this negative movement remains unclear.
  • Despite some positive movement earlier in December, Hertz Global Holdings Inc. (HTZGQ) stocks fell -15.33% last week.
  • Although several new agreements with the U.S. Food and Drug Administration, the UK National Health Service and the U.S. Army were announced in previous weeks, the value of Palantir (PLTR) stocks fell -15.14% last week.
  • Blue Apron Holdings Inc. (APRN) stocks fell -14.53% over the past week, although the reason behind this negative movement remains unclear.
NYSE WORST-PERFORMING STOCKS
STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Oasis Petroleum Inc. (OAS)-37.2047 (-99.58%)$0.1556 USDConsumer Goods
Oi SA (OIBR)-0.1100 (-17.74%)$0.4200 USDServices
Hertz Global Holdings Inc. (HTZGQ)-0.2298 (-15.33%)$1.2812 USDServices
Palantir (PLTR)-4.20 (-15.14%)$23.57 USDTechnology
Blue Apron Holdings Inc. (APRN)-0.95 (-14.53%)$5.70 USDConsumer Goods

Highlights and Lowlights

Tesla Beats 2020 Delivery Estimates

Following on from strong results in 2020, Tesla Motors, Inc. (TSLA) has recently reported that it had beaten Wall Street estimates to deliver 499,550 vehicles during the 12-month period. Although the achievement did not meet Elon Musk’s own target of 500,000 vehicles, the electric car company outpaced estimates by more than 18,000 units. The news comes after the company was included in the S&P 500 index in December, while also seeing its stock value rise more than 700% in 2020.

Bitcoin Rallies Above $30,000

Bitcoin’s stellar run has continued into the first week of 2021. Despite already enjoying growth of more than 300% in 2020, the cryptocurrency traded as high as $33,099 on January 2, rallying above $30,000 for the very first time. As many cryptocurrencies, including Bitcoin, continue to surge ahead, related industries continue to see growth too, with Canaan Inc. (CAN) and Riot Blockchain Inc. (RIOT) just two of the many companies experiencing growth over the past week.

What’s in Store for the Week?  

An executive order signed by President Donald Trump in November 2020, restricting American investment in companiesallegedly connected to China’s military forces, is set to come into effect in the coming week. The NYSE has already announced that three telecommunications companies will be delisted from the stock market, with China’s Ministry of Commerce signalling that the country will: “take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises.” It will be interesting to see which moves China will make and if more companies are set to be delisted across other American markets.

The three companies, including China Telecom, China Mobile and China Unicorn Hong Kong, will be delisted from the NYSE at some point between January 7–11. 

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