Which Stocks Jumped This Week?

Which Stocks Jumped This Week?

Happy Friday folks! 

Yesterday’s stellar earnings from the big banks is the talk of Wall Street, with investors taking the impressive results as a sign that the economy is improving. 

For the stocks on our biggest movers list, there seems to be little company-specific news causing the fluctuations. Tech shares have rebounded this week, boosting many of the cloud companies in our shortlist, but others stocks are still suffering from headwinds from the worst effects of the pandemic.

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

Moving Up ⬆️

Upstart Holdings (UPST) +22.0%

Cloudflare (NET) +18.3%

Coupa Software (COUP) +14.5%

Twilio (TWLO) +11.5%

Zendesk (ZEN) +11.4%

Moving Down ⬇️

Evolent Health (EVH) -12.1%

Align Technology (ALGN) -7.1%

Monster Energy (MNST) -4.1%

IMAX (IMAX) -3.6%

Texas Roadhouse (TXRH) -3.0%

What investors need to know 

Upstart Holdings (UPST) +22.0%

Wall Street is growing bullish over the stock as strategists believe Upstart Holdings will grow revenue by more than fourfold by the end of 2022. Shareholders are also realizing the company’s true potential as a first-of-its-kind artificial intelligence leader, which is set to disrupt the way banks assess potential borrowers. After the big banks posted impressive earnings results yesterday, this money could very well be rotated into technology films like Upstart which helps it keep up in our digitally-driven world. 

Coupa Software (COUP) +14.5%

The business spend management platform is finally recovering from the pandemic as experts predict its technology will be needed to help repair broken supply chains caused by COVID-19. Since it is a business that mainly deals with supply chains, Coupa’s operations were disrupted but now shareholders are pointing out that it is perfectly positioned to capitalize on fixing these issues as the economy improves. With the stock up almost 800% since its IPO, and its near-term prospects looking promising, things are looking good for Coupa stock right now. 

Twilio (TWLO) +11.5%

Bullish sentiment for the cloud communication platform is increasing, with Wall Street dubbing it a top cloud stock to watch. While tech stocks rebounded this week, Twilio is also benefiting from investors seeing high growth in its future. Many experts are even saying they predict Twilio to make $10 billion in the next few years. With the global cloud computing market projected to reach $791 billion by 2028, Twilio stock, which is down around 20% from its highs, is looking attractive. 

Texas Roadhouse (TXRH) -3.0%

The steakhouse star has had a tough time of it lately. This week, Wall Street downgraded the stock and not long before that, reports emerged that insiders sold $44 million worth of shares. Like many restaurant chains, the Kentucky-based company is still struggling with high labor and supply costs. These concerns should be alleviated when employment and supply chain volumes recover post-pandemic. The short-term issues don’t seem to be getting Texas Roadhouse down though, with the brand speeding ahead with plans to open 10 more locations under a multiyear franchise partnership with The Saxton Group.

NicoleNicole

Sign up for free to continue reading.