US stocks hit a slump

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Anavex Life Sciences Corp. (AVXL), MicroStrategy Inc. (MSTR), (MNDY), Sunrun Inc. (RUN) and MongoDB Inc. (MDB).

  • Anavex Life Sciences Corp. (AVXL) shares soared when peer-reviewed research on two of the biotech company’s pipeline drugs was published. 
  • Shares of software firm and major Bitcoin holder MicroStrategy Inc. (MSTR) jumped following a tweet by Tesla CEO Elon Musk about the possibility of Tesla accepting Bitcoin in the future.
  • (MNDY) shares continued to rise after the workplace management software company’s recent IPO.
  • Sunrun Inc. (RUN) shares popped after Morgan Stanley analyst Stephen Byrd declared the solar panel company the “most compelling clean energy stock.”
  • MongoDB Inc. (MDB) shares jumped after the database expert exceeded Wall Street’s expectations for its first quarter, successfully reaching analysts’ target price.


Anavex Life Sciences Corp. (AVXL)6.64 (+42.84%)22.14Consumer goods
MicroStrategy Inc. (MSTR)130.02 (+25.18%)646.46Technology (MNDY)43.20 (+22.82%)232.51Technology
Sunrun Inc. (RUN)7.75 (+17.24%)52.71Industrial goods
MongoDB Inc. (MDB)49.92 (+14.94%)384.02Technology

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Qudian Inc. (QD), Asana (ASAN), AMC Entertainment Holdings Inc. (AMC), Shopify Inc. (SHOP) and HubSpot (HUBS).

  • Shares of Qudian Inc. (QD) jumped after the Chinese technology platform received a significant upgrade by analysts.
  • Shares of software leader Asana (ASAN) surged following a bullish rating by analysts and a stellar Q1 earnings report.
  • AMC Entertainment Holdings Inc. (AMC) stock continued to be popular with Reddit investors following news of voting on the company’s anticipated sale of 25 million shares, which could raise $1.5 billion in funds to help offset debt which the theatre chain had accumulated during the pandemic.
  • Shopify Inc. (SHOP) shares popped when the e-commerce platform announced that its mobile payments technology Shop Pay will be coming to Facebook, Instagram, and Google later this year. 
  • HubSpot (HUBS) shares spiked after analysts predicted that the CRM software leader will report sales of $295.80 million for the current fiscal quarter. 


Qudian Inc. (QD)0.57 (+27.01%)2.68Financial
Asana (ASAN)11.33 (+24.38%)57.80Services
AMC Entertainment Holdings Inc. (AMC)9.86 (+19.96%)59.26Consumer Goods
Shopify Inc. (SHOP)219.85 (+17.63%)1466.87Technology
HubSpot (HUBS)73.85 (+14.21%)593.53Technology

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Urban One Inc. (UONE), CureVac NV (CVAC), Sage Therapeutics Inc. (SAGE), Fossil Group Inc. (FOSL) and Tellurian Inc. (TELL).

  • Urban One Inc. (UONE) shares tanked after a filing by the urban media company which registered 3 million shares for insider sales.
  • CureVac NV (CVAC) shares crashed after the German biotech company reported disappointing late-stage trial results for its COVID-19 vaccine candidate.
  • Sage Therapeutics Inc. (SAGE) shares dropped after the biopharmaceutical company’s disappointing clinical trials of what had been considered a promising treatment for depression.
  • Fossil Group Inc. (FOSL) shares sank after the watch and accessories maker reported a loss of $24.4 million in its first quarter. 
  • Tellurian Inc. (TELL) shares declined after Indian energy firm Petronet shelved its impending deal with the natural gas project developer. 


Urban One Inc. (UONE)-10.74 (-52.19%) 9.84Services
CureVac NV (CVAC)-35.88 (-36.68%)61.94Healthcare
Sage Therapeutics Inc. (SAGE)-22.23 (-28.10%) 56.88Consumer Goods
Fossil Group Inc. (FOSL)-3.27 (-20.93%)12.35Consumer Goods
Tellurian Inc. (TELL)-0.86 (-18.18%)3.87Consumer Goods

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, Blue Apron Holdings Inc. (APRN), TAL Education Group ADR (TAL), United States Steel Corp. (X), New Oriental Education & Techn ADR (EDU) and Kinross Gold Corp. (KGC) stocks all experienced negative movement over the past week.


Blue Apron Holdings Inc. (APRN)-1.94 (-31.80%)4.16Consumer Goods
TAL Education Group ADR (TAL)-6.85 (-23.43%)22.38Consumer Goods
United States Steel Corp. (X)-5.95 (-20.76%)22.71Basic Materials
New Oriental Education & Techn ADR (EDU)-1.95 (-20.44%)7.59Consumer Goods
Kinross Gold Corp. (KGC)-1.39 (-17.80%)6.42Basic Materials

Highlights and Lowlights

After a three-week optimistic, if modest, upward trend, all three major US indexes were in the red this past week. The DJ30 fared the worst, dropping 3.4% — its largest weekly decline in nearly eight months — while the SPX500 also reversed course, falling 1.9% and the NSDQ100 dipped 0.3%.

A revised outlook issued by the US Federal Reserve dampened investors’ moods, negatively affecting stocks and other markets. Policy makers hinted that they expect to raise interest rates by late 2023 — sooner than previously estimated — and raised their inflation forecast as well.

What’s in Store for the Week?

Reports on existing and new home sales will be released on Tuesday and Wednesday, respectively, in addition to weekly mortgage application statistics. US consumer sentiment and expectations for June will be reported on Friday, which are now in the shadow of the Fed’s revised projections on inflation.

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