5 Top Weekly NASDAQ Tech Stocks: ServiceSource Rises 20 Percent

Which NASDAQ tech stocks gained the most last week? We run through the five biggest gainers in this article.

Amid Q3 earnings releases, the NASDAQ Composite Index (INDEXNASDAQ:IXIC) opened at 8,137.51 points on Monday (October 21) and hit 8,237.54 points as of 11:23 a.m. EDT on Friday (October 25).

During Libra congressional meetings last week, Facebook (NASDAQ:FB) CEO Mark Zuckerberg defended the cryptocurrency, stating, “The financial industry is stagnant and there is no digital financial architecture to support the innovation we need.”

On Thursday (October 24), Twitter (NASDAQ:TWTR) CEO Jack Dorsey criticized Zuckerberg for his decision to not censor political ads. Also last week, Twitter shares slumped after the company missed third quarter earnings expectations.

Shares of Amazon (NASDAQ:AMZN) tilted downward over the five day period as its earnings per share fell short of expectations, reaching US$4.23, below the anticipated US$4.60. Still, sales for the company climbed to US$70 billion for the quarter, rising at a 24 percent clip.

On the other hand, electric vehicle maker Tesla (NASDAQ:TSLA) surprised investors, with reports of profitability sending its shares up almost 20 percent.

Looking back over the week, in the small- and mid-cap spaces, the five top gainers were as follows:

  • ServiceSource International (NASDAQ:SREV)
  • Audioeye (NASDAQ:AEYE)
  • HyreCar (NASDAQ:HYRE)
  • Red Violet (NASDAQ:RDVT)
  • AGM Group Holdings (NASDAQ:AGMH)

ServiceSource International

Digital engagement company ServiceSource operates customer retention analytics and data software. With customers including Red Hat, Cisco (NASDAQ:CSCO) and Symantec (NASDAQ:SYMC), ServiceSource delivers lead generation and sales conversions for customers.

While ServiceSource had no news last week, it will hold its Q3 earnings call on Wednesday (October 30).

ServiceSource shares had reached US$1.04, a 20.68 percent increase, as of 11:22 a.m. EDT on Friday.

AudioEye

AudioEye works to promote equal access to digital content. Through its digital accessibility platform, AudioEye supplies an interface that enables users to incorporate accessibility testing according to Section 508’s Web Content Accessibility Guidelines, an international framework.

In early September, AudioEye partnered with several automotive companies, including Subaru, Hyundai (OTC Pink:HYMTF) and Fiat Chrysler (NYSE:FCAU), to bring digital accessibility to dealer websites.

Shares of AudioEye had reached US$3.39, a 16.93 percent increase, as of 11:21 a.m. EDT on Friday.

HyreCar

Shared vehicle platform HyreCar connects Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) drivers with car owners who have vacant vehicles. HyreCar provides the insurance and backend for both drivers and car owners to drive and list their cars, respectively. Additionally, car dealerships can list vehicles on the platform.

Last Monday, HyreCar signed two agreements with car dealerships, which will add 200 vehicles to its platform in Q4. Additionally, as part of the deal, 1,000 cars are anticipated to be available in the future. As a result of this agreement, HyreCar’s listed vehicles increased by 50 percent, aligning with its mission to partner with fleet and dealer partners to further scale going forward.

HyreCar shares had risen to US$2.70, a 15.88 percent hike, as of 11:26 a.m. EDT on Friday.

Red Violet

Data analytics firm Red Violet saw its shares climb over 12 percent over the week. Year-to-date, its shares have jumped more than 141 percent. With proprietary technology that analyzes consumer and market insights, Red Violet assists its customers with compliance and due diligence in both the private and public sectors. Operating two main divisions, IDI and Forewarn, Red Violet deploys its risk management and security applications across the financial and real estate industries.

Red Violet had no news last week. Its shares had climbed to US$16.31, a 12.87 percent hike, as of 10:43 a.m. EDT on Friday.

AGM Group Holdings

AGM Group Holdings provides financial technology solutions for online trading through its software-as-a-service model. By offering 80 products, such as commodities, foreign currencies and precious metals, on its trading platform, AGM Group Holdings provides a host of applications on its cloud-based model.

AGM Group Holdings has witnessed over 32 percent monthly returns to date.

The company had reached US$21.10, a 11.35 percent rise, as of 10:59 a.m. EDT on Friday.

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.

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

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

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Catch up and get informed with this week's content highlights from Charlotte McLeod, our editorial director.

Top Stories This Week: Powell Gets Fed Nomination, Using Gold in a Market Correction youtu.be

We're back after a break last week with quite a bit to cover in the gold space.

After running up past the US$1,860 per ounce mark midway through November, the yellow metal has taken a tumble. At the time of this writing on Friday (November 26) afternoon, it was sitting just under US$1,790.

Gold's losses this week have been attributed to elements like a stronger US dollar and better Treasury yields, although Jerome Powell's US Federal Reserve chair renomination has pulled other factors into play — some market watchers believe he may move to taper and raise interest rates faster than anticipated.


If the Fed follows its previously laid out timeline for tapering, it will wrap up in mid-2022; the central bank has said it won't raise rates until after that. It has also emphasized that its roadmap may change if necessary.

Looking at the larger picture for gold, I heard recently from Nick Barisheff of BMG Group, who believes the stock market is due for a major correction.

"The market is due for a major correction. What will cause it and when it will happen is anybody's guess — it could be tomorrow, it could be six months from now" — Nick Barisheff, BMG Group

It's impossible to know when this correction will happen, but Nick emphasized the importance of acting before it's too late. He pointed out that investors are typically slow to get out of the market once a crash actually begins — they wait for a turnaround, and by the time it's clear there won't be one, they've experienced big losses.

In his opinion, the solution is to get out of the stock market early and transfer money into gold.

Here's how Nick explained it:

"Instead of taking your money off the table and going into cash … you go to gold (because cash is devaluing daily). Gold will at least hold its own and probably appreciate … so by sitting it out in gold you can wait until the market finishes correcting and then buy back in" — Nick Barisheff, BMG Group

With gold's future in mind, we asked our Twitter followers this week what price they think the metal will be at the end of 2021. By the time the poll closed, most respondents had voted for the US$1,800 to US$1,900 range.

We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource or follow me @Charlotte_McL to share your thoughts.

Finally, in the cannabis space, INN's Bryan Mc Govern spoke with Dan Ahrens of AdvisorShares to get his thoughts on 2021 trends and what's ahead in 2022.

Dan was candid, and said if he had to choose one word to describe the cannabis market in 2021, it would be "painful." Like many others, he's been disappointed in the industry's performance — while positivity initially ran high due to excitement about potential federal changes in the US, ultimately progress has been slow.

"Cannabis started with a big run-up in January and February ... and things dragged from there" — Dan Ahrens, AdvisorShares

Still, Dan has hope for 2022 and said it will be a "huge year" for cannabis. He believes US reforms will come sooner rather than later, and in his opinion those widely anticipated changes will bring a wave of M&A activity.

Specifically, he expects to see alcohol, tobacco and other consumer packaged goods companies making deals with cannabis players, not just cannabis entities doing transactions with each other.

"Those big alcohol companies, tobacco companies, other consumer packaged goods product companies — they're waiting. They're waiting on the US" — Dan Ahrens, AdvisorShares

Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.

And don't forget to follow us @INN_Resource for real-time updates!

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

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

cannabis plant layered with German flag graphic
Dmytro Tyshchenko / Shutterstock

Catch up on some of the biggest news of the week for the cannabis investment world.

Three political parties have formed a coalition in Germany, leading to a new government, and it has promised cannabis reform in the European nation.

Meanwhile, a popular cannabis retailer confirmed consumers will now find its products available for delivery on the Uber Eats mobile application in Ontario.

Keep reading to find out more cannabis highlights from the past five days.


Coalition of parties promises forward-looking cannabis policy

Germany, a country with comprehensive and elaborate medicinal rules for cannabis, is in a time of transition as a new government is set to begin to take over after 16 years of Angela Merkel.

Olaf Scholz, the proposed next chancellor of Germany, leads a three party coalition that will become the country's governing body. As part of its promises, talk of adult-use cannabis regulation has now gained even more momentum. A report from MJBizDaily quotes a German policy document that shows the coalition's stance:

"We are introducing the controlled distribution of cannabis to adults for consumption purposes in licensed shops. This controls the quality, prevents the transfer of contaminated substances and guarantees the protection of minors."

However, despite the promise and excitement, it remains to be seen how these ideas will be applied since no formal regulations have been drafted or approved yet.

Canadian cannabis retailer partners with popular delivery app

Tokyo Smoke, a cannabis retail operator in Canada owned by Canopy Growth (NASDAQ:CGC,TSX:WEED), announced a collaboration agreement with Uber Canada (NYSE:UBER) whereby cannabis consumers will be able to use the Uber Eats app to order products before they visit stores.

While the app won't let consumers get cannabis delivered to them, this new method opens the doors to more dynamic ways of buying cannabis.

"As a market leader in innovation and a platform used by so many Canadians, we believe this is the ideal next offering that can be done safely and conveniently on the Uber Eats app," Mark Hillard, vice president of operations with Tokyo Smoke, said in a press release.

A report from the Canadian Press indicates Ontario is considering allowing dispensaries to have delivery and pickup options made available to consumers permanently. The province allowed some of these purchasing options at the outset of the COVID-19 pandemic, but then removed them.

Lola Kassim, general manager of Uber Eats Canada, said this new end-to-end experience will provide consumers with responsible access to legal cannabis products.

Cannabis company news

  • Organigram Holdings (NASDAQ:OGI,TSX:OGI) issued financial results for its Q4 2021 period. In its report, the company notes a net loss of C$26 million despite a 22 percent uptick in net revenue to C$24.9 million. Beena Goldenberg, the newly appointed CEO of the firm, is encouraged by the market share position earned by the company, which said it became the fourth biggest producer in Canada during the reporting period.
  • Halo Collective (NEO:HALO,OTCQB:HCANF) confirmed the decision for Akanda, its spinoff company focused on international cannabis opportunities, to begin trading on a US exchange. "The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company told investors in a press release.
  • High Tide (NASDAQ:HITI,TSXV:HITI) announced the acquisition of 80 percent of NuLeaf Naturals, a CBD product wellness developer, for an estimated US$31.24 million. The deal includes a three year option clause for High Tide to complete a total acquisition. "As international markets open up and as export regulations evolve, NuLeaf's cGMP-certified facility positions us to take advantage of the global CBD business opportunity," Raj Grover, president and CEO of High Tide, said.
  • Humble & Fume (CSE:HMBL,OTC Pink:HUMBF) released the financial report for its first 2022 fiscal quarter to shareholders and the market. "As the legal cannabis market in North America continues to mature, Humble remains agile and focused on providing a leading solution for brands to scale quickly and retailers to focus on their customers," Joel Toguri, CEO of Humble, said.

Don't forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

MARKETS

Markets
TSX21125.90-487.28
TSXV944.05-31.53
DOW34899.34-905.04
S&P 5004594.62-106.84
NASD15491.66-353.57
ASX7279.30-128.00

COMMODITIES

Commodities
Gold1792.600.00
Silver23.130.00
Copper4.29-0.18
Palladium1751.490.00
Platinum955.500.00
Oil68.17-10.22
Heating Oil2.09-0.29
Natural Gas5.49+0.43

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