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 week at 7,829.58 points on Monday (August 26) and had settled at 7,945.38 points as of 11:58 a.m. EDT on Friday (August 30).
Meanwhile, gaming fans went wild with the launch of World of Warcraft Classic on Tuesday (August 27) from video game behemoth Activision Blizzard (NASDAQ:ATVI). The US$39 billion company saw its shares rise over 6 percent during the week. More than 1.1 million viewers watched the game on Twitch, the Amazon-owned gaming streaming platform, on Monday.
On Thursday (August 29), Google’s (NASDAQ:GOOG) YouTube removed its paywall, shifting instead to an ad-generated revenue model. According to the Financial Times, the video streaming service generated US$15 billion in ad revenue in 2018. The previous subscription service charged users US$12 per month to access premium original content and ad-free streaming.
Looking back at the week, in the small- and mid-cap spaces, the five top gainers were as follows:
- Remark Holdings (NASDAQ:MARK)
- SilverSun Technologies (NASDAQ:SSNT)
- SeaChange International (NASDAQ:SEAC)
- NXT-ID (NASDAQ:NXTD)
- Phunware (NASDAQ:PHUN)
Artificial intelligence (AI) company Remark Holdings provides solutions for retail, fintech and workplace safety. Remark’s retail division allows companies to install its AI software to gain greater insight on consumer behavior. For fintech, Remark deploys AI capabilities for credit risk analysis and to target new markets. Its workplace division uses intention analysis models for problem-solving purposes.
Last week, Remark launched its Smart Campus Solution across the Hangzhou Primary School System in China. As part of the deal, facial recognition and object recognition technology will be integrated in the school system for security and attendance recording purposes.
Remark’s shares were up 29.69 percent last week to reach US$0.80 as of 12:01 p.m. EDT on Friday.
SilverSun Technologies operates a number of primary business segments. It provides proprietary software solutions to small- and medium-sized businesses, offers remote network monitoring and acts as a reseller of third-party applications. Additionally, SilverSun provides training and consulting services across a range of technical applications.
On Tuesday, the company’s subsidiary SWK Technologies sold its programming language division, MAPADOC EDI, for US$11.5 million. The division was purchased by SPS Commerce in a cash transaction.
“The sale of the division gives us the resources to rapidly accelerate our growth plans, which centers around providing products and services to our SMB (small and medium-sized business) customers that enable the digital transformation of their companies,” said Mark Meller, CEO of SilverSun Technologies.
Shares of SilverSun Technologies were at US$3.20, up 28.8 percent, as of 12:04 p.m. EDT on Friday.
Video software solutions company SeaChange International provides video back-office, client interface and customer analytics on cloud or hybrid platforms to 50 million subscribers. SeaChange has applied its predictive analytics for clients like the BBC, Verizon (NYSE:VZ), Dish (NASDAQ:DISH) and Virgin Media.
On Thursday, SeaChange filed its 8-K where it reported US$18.8 million for the latest quarter. That’s up from US$11.9 million during the same time period last year.
Over the week, shares of SeaChange International climbed 24.44 percent to reach US$2.33 as of 12:09 p.m. EDT on Friday.
NXT-ID is an Internet of Things (IoT) technology company with IoT wearables such as FitPay. FitPay integrates contactless IoT payment solutions into watches and phones. It has partnered with hundreds of card issuers and service providers in addition to 10 million merchants.
While the company had no news announcements last week, its share price rose 22.19 percent to reach US$0.41 as of 11:49 a.m. EDT on Friday.
Mobile enterprise platform Phunware offers a number of mobile solutions for customer engagement and monetizing users. Solutions such as location-based services, analytics and mobile audience targeting are applicable across healthcare and retail industries. Phunware also has PhunCoin, a security token that involves a blockchain-based rewards system.
On Thursday, Phunware introduced updates to its language targeting for congressional districts. Shares of the company were up 10.2 percent last week to rest at US$1.56 as of 12:07 p.m. EDT on Friday.
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Data for the 5 Top NASDAQ Tech Stocks articles is retrieved each Friday at 12:00 p.m. EDT using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. Companies within the technology sector are considered.
Securities Disclosure: I, Dorothy Neufeld, hold no direct investment interest in any company mentioned in this article.