Which NASDAQ tech stocks gained the most last week? We run through the five biggest gainers in this article.
The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started last Monday (January 14) at 6,899.96 points and settled to trade at 7,178.95 points as of 12:15 p.m. EST on Friday (January 18).
Similarly, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 3,821.99 points on Monday and settled to trade at 3,986.96 points at the same time on Friday.
On Tuesday (January 15), Nike (NYSE:NKE) unveiled Adapt BB, a self-lacing shoe that can be controlled via a phone app. The company said that the shoe features a custom motor and gear train that senses the tension needed on the user’s foot and adjusts accordingly.
Spotify (NYSE:SPOT) on Monday announced a global distribution deal with T-Series, one of India’s largest music and film companies. Through the deal, over 160,000 songs will be available to all Spotify users.
The company said that more than 4 million users across the globe listen to Indian music content on its platform. Further, Spotify is targeting an estimated 30 million people of Indian origin living overseas in its major markets. It is also widely reported that Spotify is set to launch in India by end of the month.
Meanwhile, over 120 stocks in the small- and mid-cap categories gained in the week, including Resonant (NASDAQ:RESN), which rose 56.45 percent. The top five gainers of the week include:
- Gridsum Holding (NASDAQ:GSUM)
- Nxt-ID (NASDAQ:NXTD)
- AudioEye (NASDAQ:AEYE)
- Identiv (NASDAQ:INVE)
This company is focused on transforming the market for RF front-ends (RFFE) by disrupting the RFFE supply chain through the delivery of solutions that build on its Infinite Synthesized Network.
Shares of Resonant settled to trade at US$2.56 as of 1:15 p.m. EST on Friday.
The company announced on Monday that it beat its stated milestone of 10 devices shipped for royalty revenues in 2018, which is more than double the devices that were shipped for royalty revenues in 2017.
With a gain of 44.97 percent, Gridsum Holding is second on the list. It settled to trade at US$2.16 as of 1:15 p.m. EST on Friday.
On Monday, Gridsum received a letter from the NASDAQ stating that the company has regained its compliance with NASDAQ listing rules.
Nxt-ID, a company that provides solutions and services that enable the Internet of Things, is third on the list with its share price gaining 38.92 percent to settle at US$1.30 as of 1:15 p.m. EST on Friday.
The company shared multiple updates last week, including a partnership with Swatch to enable SwatchPay. The company announced on Wednesday (January 16) that the Garmin Pay ecosystem has expanded to 11 devices.
With a gain of 38.04 percent during the week, AudioEye is fourth on the list with its share price settling to trade at US$11.25 as of 1:15 p.m. EST on Friday.
The company is focused on servicing businesses that are engaged in providing equal access to digital content. AudioEye seeks to resolve issues of accessibility and enhances the user experience by making digital content more usable.
AudioEye said Tuesday that it will report its preliminary fourth-quarter and full-year results on January 22, 2019.
Identiv, a provider of physical security and secure identification, takes the final spot on the list with a gain of 29.4 percent for the week.
The stock settled to trade at US$5.81 as of 1:15 p.m. EST on Friday. The company did not release any news that would explain its price hike in the week.
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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.