Mixed markets showed a modest retreat

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Agora Inc. (API), Silicon Motion Technology (SIMO), Atlassian Corporation PLC A (TEAM), Canaan Inc. (CAN), and Riot Blockchain Inc. (RIOT).

  • Agora Inc. (API) shares skyrocketed following increased interest in the Chinese software provider from hedge funds.
  • Silicon Motion Technology (SIMO) shares soared following the release of its financial results for Q2, with a second consecutive all-time record in revenues for the semiconductor company.
  • Atlassian Corporation PLC A (TEAM) shares climbed after the software company released its fourth quarter and fiscal year 2021 results, which showed total revenue of $559.5 million, up 30% from the fourth quarter of the previous year. 
  • Bitcoin mining companies Canaan Inc. (CAN) and Riot Blockchain Inc. (RIOT) saw their shares climb this week, following investors’ positive response to the rising prices of cryptos. 

NASDAQ TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Agora Inc. (API)5.57 (+21.41%)31.58Technology
Silicon Motion Technology (SIMO)13.00 (+20.97%)74.99Technology
Atlassian Corporation PLC A (TEAM)53.83 (+19.84%)325.12Technology
Canaan Inc. (CAN)1.12 (+19.44%)6.88Technology
Riot Blockchain Inc. (RIOT)4.85 (+17.26%)32.95Consumer goods

New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for Riskified Inc. (RSKD), DIDI Global Inc. (DIDI), Blue Apron Holdings Inc. (APRN), World Fuel Services Corp. (INT) and Cleveland-Cliffs Inc. (CLF.US).

NYSE TOP-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Riskified Inc. (RSKD)6.42 (+30.57%)27.42Services
DIDI Global Inc. (DIDI)2.25 (+27.92%)10.31Financial
Blue Apron Holdings Inc. (APRN)0.69 (+18.60%)4.40Consumer Goods
World Fuel Services Corp. (INT)5.13 (+17.49%)34.46Basic Materials
Cleveland-Cliffs Inc. (CLF.US)3.42 (+15.85%)25.00Basic Materials

Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Newegg Commerce Inc. (NEGG), Iclick Interactive Asia Group (ICLK), Novocure Ltd. (NVCR), 360 Finance Inc. (QFIN), and Futu Holdings Ltd. (FUTU)

NASDAQ WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
Newegg Commerce Inc. (NEGG)-7.18 (-29.45%) 17.20Consumer Goods
Iclick Interactive Asia Group (ICLK)-1.74 (-23.51%)5.66Services
Novocure Ltd. (NVCR)-35.36 (-18.67%) 154.01Consumer Goods
360 Finance Inc. (QFIN)-4.72 (-18.17%)21.25Financial
Futu Holdings Ltd. (FUTU)-22.16 (-17.78%)102.46Financial

New York Stock Exchange (NYSE) 

On the New York Stock Exchange, ATI Physical Therapy Inc. (ATIP), New Oriental Education & Technology Group Inc. (EDU), Pinterest Inc. (PINS), Wayfair Inc. (W) and Sally Beauty Holdings Inc. (SBH) stocks all experienced negative movement over the past week.

NYSE WORST-PERFORMING STOCKS

STOCKWEEKLY CHANGECURRENT TRADING PRICESECTOR
ATI Physical Therapy Inc. (ATIP)-4.93 (-59.11%)3.41Services
New Oriental Education & Technology Group Inc. (EDU)-0.76 (-25.94%)2.17Consumer goods
Pinterest Inc. (PINS)-18.01 (-23.42%)58.90Technology
Wayfair Inc. (W)-44.15 (-15.46%)241.36Services
Sally Beauty Holdings Inc. (SBH)-3.43 (-15.35%)18.92Conglomerates

Highlights and Lowlights

After record highs the previous week, this week has been a relatively quiet one on Wall Street. The SPX500 slipped 0.09% and the  DJ30 retreated 0.36%. The NSDQ100 was slightly up, registering a 0.29% climb. 

Although upbeat earnings reports continued to provide some lift, the sentiment was tempered by concerns over rising Delta variant COVID-19 infections and the regulatory crackdown of Chinese authorities negatively affecting top Chinese tech companies.

What’s in Store for the Week?

It will be another busy week ahead with earnings reports from AlibabaUberKraft HeinzVirgin Galactic and Moderna. Investors will also be watching upcoming manufacturing, industrial production and jobs reports, all of which are indicators of the pace of economic recovery. 

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