5 Top Weekly NASDAQ Tech Stocks: Beyond Apple’s Announcements

- September 16th, 2018

Which NASDAQ tech stocks gained the most last week? My Size, THE9, Rimini Street, Coda Octopus Group and Netlist emerged as the top risers in a week where Apple grabbed all the attention.

The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started last week at 7,939.57 points on Monday (September 10) and inched up throughout the week to settle at 8,003.26 points as of 1.38 p.m. EST on Friday (September 14).

Meanwhile, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week off at 7,466.76 points and settled at 7,538.34 points as of 1.45 p.m.,EST on Friday.

Of course, the high profile news was Apple (NASDAQ:AAPL) announcing the launch of its three new iPhones on Wednesday (September 12) with the phones priced between US$749 and US$1,449 depending on the model and the configuration.

On the same day, Google (NASDAQ:GOOGL) issued a release that said that Inbox by Gmail which added new features and experiments will be shut down at the end of March 2019.

In the small and mid-cap categories, over 74 stocks gained in the week with My Size (NASDAQ:MYSZ) emerging as a top gainer with 67.67 percent increase. The other stocks that increased the most last week include:

  • My Size
  • THE9 (NASDAQ:NCTY)
  • Rimini Street (NASDAQ:RMNI)
  • Coda Octopus Group (NASDAQ:CODA)
  • Netlist (NASDAQ:NLST)

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

My Size

The company that topped the charts, My Size, issued two updates on Thursday (September 13), with the most crucial one being the notice of delisting or failure to satisfy the continued listing rule with NASDAQ Standards. My Size has been given 180 days from September 6 to ensure it maintains a US$1 per share minimum bid price.

The company has a proprietary technology which is driven by algorithms through which it can calculate and record measurements.

My Size was trading at US$1.42 as of 2:02 p.m. EST on Friday.

THE9

The internet company based in China—and which has also stepped into the blockchain sector, apart from operating and developing proprietary mobile games—increased 27.93 percent over last week’s trading period. As of 1:52 p.m. EST on Friday, THE9 was trading at US$1.44.

However, the company had no related news over the course of last week’s trading period that would describe its rising share price.

Rimini Street

Another company that gained over 27 percent in the week is Rimini Street who are engaged in enterprise software products and services. The company is also a third party support provider for both Oracle (NYSE:ORCL) and SAP’s (NYSE:SAP) software products.

As of 2:05 p.m. EST on Friday, shares of Rimini Street were trading at US$6.63. Like others on the list, the company hasn’t provided any news that explained its share price increase in the week.

Coda Octopus Group

Coda Octopus is a company that specializes in underwater technologies and has a patent for real-time 3D sonar technology.

Shares of Coda rose 26.68 percent over last week’s trading period to reach US$5.38 as of 2:16 p.m EST on Friday.

On Monday, the company announced a new fourth generation 4G performance pack update for its existing users of Echoscope device, which may have catapulted its share price over the week.

Netlist

Taking the final spot on the list is Netlist, announced on Wednesday the pricing of its US$10 million registered offerings.

The company, which is engaged in high performance SSDs and modular memory subsystems, said it will issue 22.22 million registered shares of common stock at a purchase price of US$0.45 per share.

Shares of Netlist increased 22 percent throughout the week to trade at US$0.34 as of 2:24 p.m EST on Friday.

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

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday as of 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.

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