Who Were The Biggest Movers This Week?

Who Were The Biggest Movers This Week?

Happy Friday folks! 

This week, the market witnessed a tremendous milestone that proved the strength of the recovery rally. Setting the week off on a high, the S&P 500 doubled on Monday from its pandemic closing low, which marked the fastest bull market run since World War II. 

As stimulus support and corporate profits continue to help the economy, markets are looking strong as the earning season for the second quarter winds down. Catch up on the story here.

Here were the biggest movers in the MyWallSt shortlist this week:

Moving Up ⬆️

Trip.com Group (TCOM) +6.5%

Netflix (NFLX) +5.4%

Wix (WIX) +5.3%

Sea Limited (SE) +4.7%

Smartsheet (SMAR) +3.8%

Moving Down ⬇️

Redfin (RDFN) -14.0%

Baozun (BZUN) -13.2%

Trupanion (TRUP) -11.3%

Under Armour (UAA) -11.2%

Eventbrite (EB) -11.0%

What investors need to know 

Trip.com Group (TCOM) +6.5%

It's not too often you see a travel stock soaring these days, but Trip.com impressed investors this week by announcing they will be an Official Travel Service Partner for this year's ITB China show. This event, taking place in November and extending virtually into December, is the largest B2B exclusive trade show in the Chinese travel industry. Trip’s engagements will include various activities where it will have the chance to share its market knowledge and added networking opportunities by co-hosting the ITB China Cruise Night. This exposure will be beneficial for Trip as it will put it in front of new potential clients and industry professionals. 

Netflix (NFLX) +5.4%

Netflix stock made its biggest gain in seven months after Morgan Stanley named the streaming service one of its favorite media players. While the stock is only up a modest 3% for the year, analysts expect it to kick on from here thanks to its strong slew of existing and upcoming content. During the pandemic, Netflix pulled forward subscriber growth from this year, resulting in the company dulling its expectations for 2021. The benefit of this is that now, as expectations are reduced, Netflix has the ability for a surprise beat in its Q3 and Q4 earnings. The ‘Stranger Things’ maker has also shaken off concerns centered around a recent insider trading scandal, proving that this story won’t affect it as a long-term investment. 

Sea Limited (SE) +4.7%

While rival e-commerce stocks, such as Amazon and Shopify, fell after warning shareholders of an expected slowdown in growth in their respective earnings calls, shares in Sea are doing the opposite. On Tuesday evening, the consumer internet company posted sales of $2.3 billion, up 158.6% year-on-year (YoY), while e-commerce revenue increased 160% YoY to $1.2 billion. The firm’s mobile games were also a hit in Q2, with ‘Free Fire’ remaining the highest-grossing mobile battle royale app in the U.S. With the game's success in the U.S., the Southeast Asian-based company is solidifying its foothold in the lucrative U.S. gaming market.  

Redfin (RDFN) -14.0%

Following iBuying stocks' incredible rally during the pandemic, Redfin shares continued to fall this week. In just eleven months over the course of the health emergency, Redfin shares increased more than eightfold, so what we are seeing now is share prices returning to reality. With a hot property market and tame inflation levels, Redfin is expected to benefit as Gen-Z and millennials turn to the disruptor's digital services in their pursuit of finding a dream home. For a more in-depth reading on what is going on with Redfin stock right now, make sure to look at yesterday’s Daily Insight here

Baozun (BZUN) -13.2%

Baozun’s share price is being hit by a double whammy. Not only are Chinese stocks being harshly scrutinized by government interventions, investors are also dumping their e-commerce shares due to an expected slowdown in growth. In addition, the digital shopping partner worried investors on Thursday night by posting an earnings miss, reporting EPS of $0.31 on full-year revenue of $356.9 million, up 7.1%. This earnings call added fuel to the fire by giving investors yet another reason to sell the stock. 

NicoleNicole

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