5 Top Weekly NASDAQ Tech Stocks: Ideanomics Gains 65 Percent

The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started the week on Monday (February 18) at 7,450.75 points and reached 7,514.22 points as of 12.44 p.m. EST on Friday (February 22).

Meanwhile, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 4,338.70 points and settled at 4,386.69 points as of 12.49 p.m. EST on Friday.

On Thursday (February 21), Samsung (LSE:SMSN) unveiled a new Galaxy S10 series of smartphones. The South Korean mobile manufacturer launched three new models of its flagship Galaxy S series line up along with a dedicated 5G version which is targeted at specific carriers like Verizon (NYSE:VZ).

Further, the company revealed a 7.3-inch foldable phone, Galaxy Fold for US$2,000, which is set to be available with major carriers AT&T (NYSE:T) and T-Mobile (NASDAQ:TMUS) in the US.

Meanwhile Microsoft (NASDAQ:MSFT) on Wednesday (February 20) released a new Office app for Windows 10 that provides users a quick access to the most common office apps and services. Further, the app lets users to get to the relevant documents from any application aiding users to find content created by them and their colleagues in their organization.

In the small and mid-cap space, over 126 companies gained in the week including Ideanomics (NASDAQ:IDEX) which rose 65.22 percent over the trading period. Others that gained in the week include:

• Ideanomics
• Everspin Technologies (NASDAQ:MRAM)
• Internet Gold-Golden Lines (NASDAQ:IGLD)
• Optical Cable (NASDAQ:OCC)
• Digimarc (NASDAQ:DMRC)

Here’s a look at the stocks in detail and the reasons that caused a spike in the prices.

Ideanomics

First on the list is a company that serves as a global fintech advisory and is a Platform-as-a-Service player, Ideanomics, which settled to trade at US$1.90 as of 1.40 p.m. EST on Friday.

On Thursday, Ideanomics announced “several strategic management changes” including the return of Bruno Wu as chairman of the company. Wu returns to the company after a stint with a National Committee for China – US relations where he served as vice chairman and assisted with the trade talks between the two countries.

Everspin Technologies

Everspin Technologies, a company that designs, produces and distributes the Magnetoresistive RAM (MRAM) is second on the list.

The company’s products finds its use across data centres, industrial and transportation markets where data persistence, performance and endurance are important.

Shares of Everspin rose 41.38 percent in the week to trade at US$8.78 as of 1.40 p.m. EST on Friday. However, the company didn’t release any significant announcements that explained its price hike in the week.

Internet Gold-Golden Lines

Next on the list is Internet Gold-Golden Lines which rose 30.86 percent in the week to reach US$1.06 as of 1.40 p.m. EST on Friday.

The telecommunications company, which is a controlled subsidiary of Eurocom Communications, holds controlling interest in B Communications (NASDAQ:BCOM), which in turns holds a controlling interest in Bezeq (TLV:BEZQ), another telecommunication group in Israel.

Internet Gold-Golden Lines announced on Sunday (February 17), that Searchlight Group’s proposal for the purchase of the company’s position in B Communications was rejected by the company’s debenture holders.

Optical Cable

Manufacturer of broad range of fiber optic and copper data communication cabling and connectivity solutions, Optical Cable rose 29.74 percent in the week and settled to trade at US$4.93 as of 1.40 p.m. EST on Friday.

The company’s connectivity solutions are primarily targeted at the enterprise market, wireless carrier market and also non-carrier speciality market.

However, the company didn’t make any significant announcements that would explain its price hike in the week.

Digimarc

Digimac rounds off the top five list with a gain of 26.32 percent in the week to US$29.23 as of 1.40 p.m.EST on Friday.

The company is focused on the automatic identification of objects such as product packaging and virtually any media, including print, images and audio.

Digimarc announced on Thursday its fourth quarter results where it reported revenues of US$5.2 million as compared to US$4.9 million in the same period in the previous year.

Don’t forget to follow us@INN_Technology for real-time news updates!

Data for 5 Top NASDAQ Tech Stocks articles is retrieved each Friday at 12:00 p.m. EST using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. All companies in the technology sector are considered.

Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.

This article is updated each week. Please scroll to the top for the most recent information.

5 Top Weekly NASDAQ Tech Stocks: Gridsum Up Over 90 Percent

By Bala Yogesh, February 17, 2019

The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started the week on Monday (February 11) at 7,327.37 points and notched up higher throughout the week to reach 7,460.11 points as of 12.30 p.m. EST on Friday (February 15).

Meanwhile, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week on Monday at 4,264.22 points and settled at 4,339.91 points as of 12.30 p.m. on Friday.

Amazon (NASDAQ:AMZN) announced on Thursday (February 14) that it will not be moving forward with its plans to build its second headquarters in Long Island City, Queens, New York. The company cited that a “number of state and local politicians” have opposed its presence which led to the decision.

In the small and mid-cap space, over 135 companies gained in the week, including Gridsum (NASDAQ:GSUM) which rose 93.24 percent in the week. Others that made it to the top five include:

• Gridsum Holding
• Optical Cable (NASDAQ:OCC)
• Silversun Technologies (NASDAQ:SSNT)
• Frontier Communications (NASDAQ:FTR)
• Digital Turbine (NASDAQ:APPS)

Here’s a look at those companies and what may have moved their share prices:

Gridsum Holding

Gridsum, a company engaged in big data analytics and artificial intelligence solutions in China tops the list with its noted 93 percent share price hike to reach US$4 as of 1.08 p.m. EST on Friday.

The company announced on Wednesday (February 13) that it has signed a partnership with New H3C Group to promote the implementation of integrated intelligent solutions.

Through the agreement, Gridsum and New H3C are set to jointly build a platform and promote the industrial transformation and digitization of enterprises.

Optical Cable

Second on the list is Optical Cable, which was up 43.73 percent to reach US$4.70 as of 1.08 p.m. EST on Friday.

The company is a provider of broad range of fiber optic and copper data communication cabling and connectivity solutions.It is primarily focused on tapping into the enterprise market and the wireless carrier market.

That said, the company didn’t provide any significant updates that could relate to its price hike in the week.

SilverSun Technologies

SilverSun Technologies is a company engaged on business application, technology and consultancy services.

On Tuesday February 12), the company announced the appointment of Christine Dye as its new chief financial officer.

Shares of SilverSun were up 37.39 percent in the week and settled to trade at US$3.45 as of 1.08 p.m. EST on Friday.

Frontier Communications

With a 34.69 percent increase last week, Frontier Communications is fourth on the list. Its stock settled to trade at US$2.64 as of 1.08 p.m. EST on Friday.

Frontier Communications provides internet and entertainment services and serves users in urban, suburban and rural areas of 29 states across the US.

However, Frontier Communications didn’t provide any significant updates that explained its price increase over the week.

Digital Turbine

Digital Turbine connects mobile operators and original equipment manufacturers with app developers and advertisers worldwide.

The company’s platform has been adopted by over 30 mobile operators and OEM while delivering more than one billion app preloads.

Although, Digital Turbine didn’t provide any significant updates in the week, the company’s shares gained 25.59 percent and in the week to trade at US$3.19 as of 1.08 p.m. EST on Friday.

Don’t forget to follow us@INN_Technology for real-time news updates!

Data for 5 Top NASDAQ Tech Stocks articles is retrieved each Friday at 12:00 p.m. EST using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. All companies in the technology sector are considered.

Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.