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Top Stocks of the Week!
Track trending stocks from all over the internet
The market, in general, has continued to rally strongly and it has been a pretty good week for investors. The top growing stocks I shared last week had made an average return of 6.6% with Workhorse Group making a whopping 19% return in one week! Now, let’s jump right into this week’s list!
Most Discussed Stocks of the Week
AMC and BB are now the top 2 most discussed stock! Both generated almost the same amount of discussion, but investors, in general, were more bullish about Blackberry as reflected in the sentiment. The returns on both the stocks were muted with AMC and BB returning just 3% and 2% respectively. ECommerce platform ContextLogic(WISH) had a wild ride with the stock rising 90% and then dropping 46% over the next two days. Investor returns wise, Clover health is the front runner returning an insane 67% in one week. Also, Tesla dropped out of the top 10 list for the first time in 2021!
Top Growing Stocks of the Week
Above is the list of stocks that have exploded in the number of mentions throughout social media.
Wendys($WEN): This was definitely a long time coming. Wendys shares soared more than 19% on Tuesday after the company became a meme stock in Reddit. There was no new fundamental news from the company that changed the investment perspective other than an announcement that the company will bring back its popular Summer Strawberry Chicken Salad.
Clover Health($CLOV): had its best week yet since inception with the stock returning 67% in just one week. Reddit investors sparked another rally with the stock price soaring more than 200% and then fell sharply! The stock was trading at 6 times the normal volume. Even though the company has an optimistic business model, the current rally was predominantly driven by CLOV’s high short interest (43%)!
Senseonics Holdings($SENS): $SENS exploded in mentions and the stock jumped 22% during intraday trading without any new news from the company. Its a small Maryland-based pharma company, which specializes in the development of products made to ease the burden of diabetes monitoring. The company had announced news of a promising trial but that was long back. The current rally was majorly based on its short interest (25%) and increasing chatter!
Clean Energy Fuels($CLNE): $CLNE had a wild week with the stock shooting up 31% on Wednesday due to the retail crowd but then promptly tumbled 17% in Thursday afternoon trading. The drop was due to the information that its largest shareholder reduced their stake in the company by 1.25 Million shares. The retail crowd is still extremely bullish on the stock as seen by the sentiment.
Invesco Mortgage($IVR): The company had a spectacular crash at the beginning of the pandemic with the shares losing almost 90% of its value. It has been growing slowly over the past few months. The stock was trending in relation to the current uncertainty regarding inflation rates and how Fed is going to adjust its rates.
Honorable Mentions: ContextLogic($WISH) chatter grew by 487% and UWM Holdings by 373% but were not high enough to make the top 5 list. Another interesting finding from my program is that mentions of CPI (Consumer Price Index) grew by more than 900% last week showcasing the rising discussion about inflation and its impact among investors.
As always, please note that I am not a financial advisor. Hope you enjoyed this week’s top stocks issue!
PS: Let me know what you think. I read and reply to every response :)