Weekly Stock Market Update: Deliveroo Value Rises to More Than $7 Billion Ahead of Future IPO

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past seven days welcomed positive results for BioNano Genomics Inc. (BNGO), Tilray Inc. (TLRY), Globalstar (GSAT), Gevo Inc. (GEVO) and Tellurian Inc. (TELL) on the Nasdaq Stock Market.

  • BioNano Genomics Inc. (BNGO) stocks had another strong week, up +79.36% following the company’s Next-Generation Cytogenomics Symposium. Throughout the event, a variety of uses for their optical genome mapping system were discussed, from improving cancer care to exploring why COVID-19 can affect people differently.
  • Strong earnings results from Aphria, a company with which Tilray Inc. (TLRY) plans to merge, saw the marijuana company’s stock value increase +74.18%.
  • News of a collaboration with Nokia saw Globalstar (GSAT) stocks rise +55.62%.
  • Gevo Inc. (GEVO) stocks jumped +45.45% after the company announced their “Net-Zero Projects” concept. The concept would allow for the production of liquid hydrocarbons using renewable energy.
  • Word from the company’s co-founder and executive chairman that the construction of a planned export terminal would likely start in the coming months saw Tellurian Inc. (TELL) stocks rise +43.92%.
NASDAQ TOP-PERFORMING STOCKS
STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
BioNano Genomics Inc. (BNGO)3.7300 (+79.36%)$8.4276 USDConsumer Goods
Tilray Inc. (TLRY)8.39 (+74.18%)$19.72 USDHealthcare
Globalstar (GSAT)0.3115 (+55.62%)$0.9121 USDTechnology
Gevo Inc. (GEVO)2.000 (+45.45%)$6.396 USDConsumer Goods
Tellurian Inc. (TELL)0.6500 (+43.92%)$2.1319 USDConsumer Goods

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange by GameStop Corp. New (GME), TransEnterix Inc. (TRXC), United Natural Foods Inc. (UNFI), BlackBerry Limited (BB) and Tata Motors Limited (TTM).

  • Strong holiday sales results and the appointment of several new board members saw GameStop Corp. New (GME) stocks jump +100.68% last week.
  • Following a direct offering of common stock earlier in the week, TransEnterix Inc. (TRXC) announced that $31.25 million had been raised. This news led to a +79.45% boost in the company’s stock value.
  • The release of the company’s 2020 Environmental, Social and Governance Report boosted United Natural Foods Inc. (UNFI) stocks +33.82%. The report featured goals relating to waste reduction, improved food access and climate change.
  • The value of BlackBerry Limited (BB) stocks increased +30.16% last week after it was reported that the company had managed to settle a long-running dispute with Facebook over several patents.
  • Tata Motors Limited (TTM) stocks surged ahead +28.46% as rumours suggested that the company could reach a deal with Tesla to manufacture their electric vehicles in India.
NYSE TOP-PERFORMING STOCKS
STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
GameStop Corp. New (GME)17.81 (+100.68%)$35.51 USDServices
TransEnterix Inc. (TRXC)0.9100 (+78.45%)$2.0701 USDConsumer Goods
United Natural Foods Inc. (UNFI)5.61 (+33.82%)$22.23 USDServices
BlackBerry Limited (BB)2.28 (+30.16%)$9.85 USDTechnology
Tata Motors Limited (TTM)3.89 (+28.46)$17.61 USDConsumer Goods

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Canaan Inc. (CAN), SolarEdge Technologies (SEDG), Cleanspark Inc. (CLSK), Jaguar Health Inc. (JAGX) and Ocugen Inc. (OCGN) on the Nasdaq Stock Market.

  • After several weeks of strong gains, Canaan Inc. (CAN) stocks fell -22.40%.
  • News that Tesla had launched its own solar inverter model saw SolarEdge Technologies (SEDG) stocks fall -20.74%.
  • News that Cleanspark Inc. (CLSK) is to be investigated for possible securities fraud saw the company’s stocks value drop -19.92%.
  • Jaguar Health Inc. (JAGX) stocks fell -17.50%, although the reason behind this negative movement remains unclear.
  • The cancellation of the company’s scheduled stockholder meeting saw Ocugen Inc. (OCGN) stocks fall -17.47%.
NASDAQ WORST-PERFORMING STOCKS
STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Canaan Inc. (CAN)-1.40 (-22.40%)$4.84 USDTechnology
SolarEdge Technologies (SEDG)-73.85 (-20.74%)$282.46 USDIndustrial Goods
Cleanspark Inc. (CLSK)-7.75 (-19.92%)$31.17 USDConsumer Goods
Jaguar Health Inc. (JAGX)-0.7000 (-17.50%)$3.2729 USDConsumer Goods
Ocugen Inc. (OCGN)-0.4700 (-17.47%)$2.2020 USDConsumer Goods

New York Stock Exchange (NYSE)

On the New York Stock Exchange, GrubHub Inc. (GRUB), Twitter (TWTR), Gerdau SA (GGB), SeaWorld Entertainment Inc. (SEAS) and Paycom Software Inc. (PAYC) stocks all experienced negative movement over the past week.

  • GrubHub Inc. (GRUB) stocks took a tumble last week (down -13.80%), although the reason behind this negative movement remains unclear.
  • The company’s decision to ban President Donald Trump from their social media platform saw Twitter (TWTR) stocks fall -12.24%.
  • Gerdau SA (GGB) stocks were down -9.98% last week, although the reason behind this negative movement remains unclear.
  • SeaWorld Entertainment Inc. (SEAS) stocks fell -9.66% last week, although the reason behind this negative movement remains unclear.
  • The value of Paycom Software Inc. (PAYC) stocks declined -9.55%, although the reason behind this negative movement remains unclear.
NYSE WORST-PERFORMING STOCKS
STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
GrubHub Inc. (GRUB)-11.38 (-13.80%)$71.24 USDServices
Twitter (TWTR)-6.30 (-12.24%)$45.23 USDTechnology
Gerdau SA (GGB)-0.540 (-9.98%)$4.904 USDBasic Materials
SeaWorld Entertainment Inc. (SEAS)-3.17 (-9.66%)$29.85 USDConsumer Goods
Paycom Software Inc. (PAYC)-42.13 (-9.55%)$400.28 USDTechnology

Highlights and Lowlights

Deliveroo Secures $180 Million in Funding

London-based Deliveroo has managed to secure a further $180 million in funding, boosting the value of the takeaway delivery company to more than $7 billion. Benefitting from shifts in consumer spending and an accelerated adoption of food delivery services throughout the COVID-19 pandemic, the company currently counts retail giant Amazon among its shareholders. Although an official IPO date has yet to be confirmed by the company, rumours have emerged around a first quarter listing, with Co-founder and Chief Executive Will Shu confirming that the company is in the process of planning an IPO.

COVID-19 Continues To Pressure US Retail Sales

The latest retail sales figures out of the US show that the economy’s downturn continued into December. Retail sales fell for the third month in a row, with online, in-store and restaurant sales all declining month-on-month. Spending on hobbies, sporting goods, books and musical instruments also fell, with economists speculating that the country’s spike in COVID-19 infections, rising numbers of layoffs and uncertain unemployment benefits led to a decline in consumer confidence.

What’s in Store for the Week?

As President-elect Biden is due to be sworn into office on Wednesday, attention is turning to the United States Senate, with some speculating whether it will be able to provide equal attention to Biden’s proposed stimulus package and President Trump’s impeachment trial. A delay in the impeachment trial has been recommended by some to allow the Senate to focus on the ambitious $1.9 trillion stimulus package, but others, including Senator Cory Booker, warn that doing so could be “constitutionally dangerous.”

Soon after the inauguration, we should start to get a clearer view of what course of action will be taken. The impact on US stock markets will be interesting to observe, particularly in coming weeks. 

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