Discover more from Market Sentiment
Top Stocks of the Week!
Track trending stocks from all over the internet
Overall, it has been an amazing week for investors, and all the top growing stocks that I shared last week have ended in green with an average return of 11.7%. So, without further ado, let’s dive into this week’s list!
Most Discussed Stocks of the Week
Both AMC and BB individually generated more discussion than the other 8 put together! This can be attributed to the possibility of the next squeeze and also the rallying stock price. Weed stocks also made a double entry into the top 10 list with SNDL coming in 4th and TLRY 5th (we will discuss why in the next section). Investors were most bullish about Tilray and Nokia’s prospects as reflected by the sentiment! Another interesting observation is that it has been a rough week for Tesla with it being the only stock in the list that ended in the red.
Top Growing Stocks of the Week
Above is the list of stocks that have exploded in the number of mentions throughout social media. Almost all the stocks increased in chatter due to the rally of meme stocks and not due to any fundamental news
BlackBerry($BB): No points for guessing the top growing stock of the week. BlackBerry was also present in the last week’s list and the stock has been running up almost 80% in the last six weeks. The discussions were predominantly driven around whether BB would be the next short squeeze play. Even though the company has made some significant strides over the last year (Collaboration with AWS being an example), there are no specific news that’s driving the current rally.
Clean Energy Fuels($CLNE): There isn’t any new fundamental news out of the company for the current rally but the discussion exploded in Reddit and the stock gained as much as 20% on Thursday. The stock experienced a quadrupling of the average daily volume as Reddit investors piled on to the stock. The company is still trading at a healthy 17.6% increase over last week’s closing price.
Workhorse Group($WKHS): Even though the company did not have a good month in May with them disappointing the investors with their first-quarter results (the company only delivered six electric cargo trucks). But the shares of the company have rocketed more than 40% in June. The discussion volume as well as the trading volume has been on a consistent rise over the past week.
Nokia($NOK): Nokia’s current rally is primarily driven by optimism over its back-to-back 5G network deployment wins with multiple telecom operators such as Net4Mobility, DITO Telecommunity Corporation, T-Mobile, and Optus. The company has also resolved a long-drawn patent licensing dispute with Daimler and has been strengthening its financials by generating strong cash flows. Investor sentiment has also been extremely bullish as we can see from the trends.
Sundial Growers($SNDL): Weed stocks are mainly moving due to a mix of fundamental news and retail trading interest. SNDL rose almost 30% this week before dropping down. The marijuana industry is consolidating and a spate of deals were announced this week. Adding to this, there has been progress in legalization efforts in the US. Tilray(TLRY) has also been on the run with the stock price increasing 12% and the chatter growing by 300% this week.
Honorable Mentions: AMC Entertainment($AMC) chatter grew by 189% (which is massive considering that the stock was already the most discussed stock last week) and Clover Health ($CLOV) discussions increased by 255% but were not high enough to make the top 5 list.
Hope you enjoyed this week’s top stocks issue! If you found this insightful and know someone else who would benefit from this, please share it with them!
Disclaimer: I am not a financial advisor.
PS: Let me know what you think. I read and reply to every response :)