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Stocks take another dive: Weekly Stock Market Update

Last Week’s Top Five Market Winners

Nasdaq Stock Market (NASDAQ)

The past week included significant gains for Clover Health Investments Corp. (CLOV), Shoals Technologies Group, Inc. (SHLS), Gevo Inc. (GEVO), Sunworks Inc. (SUNW) and SweetGreen (SG).



  • After last week’s earnings beat, shares of Clover Health Investments Corp. (CLOV) continued to surge following news that Chelsea Clinton had purchased 100,000 shares of the health tech company.

  • Shoals Technologies Group, Inc. (SHLS) shares soared after the solar energy company reported fourth-quarter 2021 financial results.

  • Gevo Inc. (GEVO) shares popped after US President Joe Biden announced a ban on Russian oil, natural gas and coal, which investors speculated may be a boon to the Colorado-based renewable energy company.

  • Sunworks Inc. (SUNW) shares jumped after the solar power and battery storage solutions provider delivered fourth-quarter and full-year 2021 earnings.

  • Shares of salad chain SweetGreen (SG) were up following positive analyst comments.


NASDAQ TOP-PERFORMING STOCKS

Stock

Weekly Change

Current Trading Price

Sector

0.89 (+40.45%)

3.09

Healthcare

3.85 (+27.36%)

17.92

Basic Materials

0.85 (+25.68%)

4.16

Consumer Goods

0.57 (+25.45%)

2.81

Consumer Goods

6.58 (+24.57%)

33.36

Consumer Goods


New York Stock Exchange (NYSE)

Strong results were recorded on the New York Stock Exchange for CVR Energy (CVI.N), Cano Health, Inc. (CANO), PBF Energy, Inc. (PBF), Sunnova Energy International Inc. (NOVA) and Delek US Holdings Inc. (DK).

  • US energy stocks, including CVR Energy (CVI.N), PBF Energy, Inc. (PBF), Sunnova Energy International Inc. (NOVA), and Delek US Holdings Inc. (DK) rallied this week as President Biden announced a ban on Russian imports of oil, natural gas and coal.2

  • Cano Health, Inc. (CANO) shares soared following news that hedge fund Third Point was pushing the senior care facility operator to put itself up for sale.

NYSE TOP-PERFORMING STOCK

Stock

Weekly Change

Current Trading Price

Sector

6.04 (+33.30%)

24.20

Basic Materials

1.24 (+26.50%)

5.92

Services

5.07 (+25.09%)

25.28

Basic Materials

​​4.58 (+24.66%)

23.15

Consumer Goods

12.48 (+26.86%)

22.26

Basic Materials


Last Week’s Top Five Market Losers

Nasdaq Stock Market (NASDAQ)

The last seven days were less than ideal for Fossil Group Inc. (FOSL), GDS Holdings Ltd. (GDS), Natera Inc. (NTRA), Baozun Inc. (BZUN) and Huazhu Group Ltd. (HTHT).

  • Fossil Group Inc. (FOSL) shares plunged after the fashion watch maker released earnings, showing declining sales for the seventh year in a row.

  • As securities regulators threaten to delist several Chinese companies, fears sent investors into a sell-off of Chinese stocks, including shares of data centre developer GDS Holdings Ltd. (GDS), e-commerce services company Baozun Inc. (BZUN) and hotel operator Huazhu Group Ltd. (HTHT).

  • Natera Inc. (NTRA) shares plummeted after a report by investment research firm Hindenburg Research alleged that the prenatal testing company is “starkly unprofitable” and that its growth has been “fueled by deceptive sales and billing practices.”


NASDAQ WORST-PERFORMING STOCKS


Stock

Weekly Change

Current Trading Price

Sector

-4.51 (-34.14%)

8.70

Consumer Goods

-14.05 (-33.93%)

27.36

Services

-17.50 (-30.98%)

38.98

Consumer Goods

-2.79 (-30.06%)

6.49

Services

-11.17 (-29.09%)

27.23

Consumer Goods


New York Stock Exchange (NYSE)

On the New York Stock Exchange, DiDi Global Inc. (DIDI), RLX Technology Inc. (RLX), Post Holdings Inc. (POST), Yum China Holdings, Inc. (YUMC), Tencent Music Entertainment Group (TME) all experienced negative movement over the past week.

  • As securities regulators threaten to delist several Chinese companies, fears sent investors into a sell-off of more Chinese stocks, including those of ride-hailing leader DiDi Global Inc. (DIDI), vaping company RLX Technology Inc. (RLX), fast-food giant Yum China Holdings, Inc. (YUMC), and streaming music company Tencent Music Entertainment Group (TME).

  • Shares of cereal maker Post Holdings Inc. (POST) plummeted to a new 52-week low as corn and wheat price increases since Russia invaded Ukraine added further concern to existing food inflation and supply issues.


NYSE WORST-PERFORMING STOCKS


Stock

Weekly Change

Current Trading Price

Sector

-2.13 (-52.99%)

1.89

Financial

​-1.14 (-43.35%)

1.49

Consumer Goods

-36.76 (-35.53%)

66.71

Conglomerates

-12.94 (-25.66%)

37.48

Consumer Goods

-1.13 (-24.73%)

3.44

Technology


Highlights and Lowlights

US stocks tumbled further while commodities continued to surge as the Russia-Ukraine conflict intensified. The SPX500 suffered its largest weekly decline since January, dropping -2.8%. The NSDQ100 plunged -3.5%, officially putting the tech index into bear market territory with a total 20% drop. The DJ30 fell -1.9%, now in a correction at more than 10% below its most recent high in January.


What’s in Store for the Week?

As the war in Ukraine continues to impact markets, earnings season continues, with releases from Williams-Sonoma, FedEx, GameStop, and Signet Jewellers. Check out eToro’s Earnings Reports Calendar for all of the details and to stay up to date.


The Federal Reserve meets on Tuesday and Wednesday, with investors expecting a quarter-percentage-point rate hike. In addition, the Bureau of Labor Statistics will release its February Producer Price Index on Tuesday and the Census Bureau reports February retail sales data on Wednesday.

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