Top Stocks of the Week!
Track trending stocks from all over the internet
Hey Guys,
Hope you had a great week in the market. As we can see below SPY finished strongly with it rising 2.5% over the last week. As of Friday, 88% of the S&P 500 companies that had reported second-quarter results exceeded analysts’ earnings estimates [FactSet].
Even though there are some inflationary concerns, Fed is widely expected to keep its benchmark interest rate unchanged—and at a near-zero level—when it concludes a two-day meeting on Wednesday. Given the majority of the market ended in the green, let’s see how the most popular stocks performed.
Most Discussed Stocks of the Week
All the popular stocks except WISH and CLOV ended in green last week! Moderna is the newcomer to the top 10 list with a 22% jump in stock price. The controversy regarding the vaccine decision is accurately reflected in the sentiment with the stock having only 0.5% after having a very strong rally. SPY continues to be the most discussed stock with AMC, WISH, GME & CLOV all having almost similar discussion volumes.
Top Growing Stocks of the Week
As this is now the earnings season, most of the stocks exploded in chatter primarily due to their earnings releases.
Snap Inc(SNAP): SNAP shares soared 23% on Friday following their exceptional quarterly report. The company posted 293 MM global daily active users which is 23% more when compared to last year. Adding to this, the company also reassured the investors that they would not be impacted by the iOS 14.5 privacy changes as it had anticipated.
TAL Education Group(TAL): TAL stock was down 70% on Friday following the news that the Chinese Govt might tell for-profit educational institutions to become non-profit organizations. As per CNBC reports, educational training institutions are banned from raising money through stock listings and foreign capital will not be allowed to invest. The news also caused other educational companies such as Youdao(DAO), Gaotu Techedu (GOTU), etc. to drop significantly.
Beachbody Company(BODY): BODY has completed its three-way merger with Myx Fitness and Forest Road Acquisition Corp last month. This made it one of the largest subscription health and wellness companies for the mass market. The rising stock price and some very well-researched DD’s (here and here) have contributed to the increasing chatter.
Intel Corporation(INTC): Intel reported its quarterly earnings on Thursday. Even though the company beat revenue and EPS expectations, the stock price fell 2% following the cautionary guidance the company issued for the next quarter. Intel also said that PC unit sales were up 33% over last year. Investors were bullish on the stock predominantly because of the increasing focus the US govt has on fixing the semiconductor supply chain.
Moderna Inc(MRNA): The company was trending and the stock price was rallying after European health officials recommended authorizing the drugmaker's coronavirus vaccine for kids 12 and older. This in addition to growing calls for a booster dose for newer covid variant’s have pushed to stock price up. But the decision to vaccinate kids 12 and older was not well received by everyone as can be reflected in the sentiment. (There is a slight difference in sentiment between both the charts as the latter was pulled 6 hours later)
Until next week!
As always, please note that I am not a financial advisor. Hope you enjoyed this week’s top stocks issue! If you found this insightful, please share it with your friends :)