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 7,798.87 points on Monday (June 10) and had settled at 7,793.48 points as of 1:07 p.m. EDT on Friday (June 14).
The S&P 500 (INDEXSP:.INX) remained relatively flat, with a 0.05 percent decline. The US Department of Commerce reported on Friday that retail sales increased for the second month to 0.5 percent in May.
Meanwhile, it is rumored that Facebook (NASDAQ:FB) will be releasing the whitepaper for its stablecoin on Tuesday (June 18). The company is planning on building ATMs in addition to having its stablecoin available across its Instagram, Messenger and WhatsApp platforms.
Bitcoin prices continued on an uptick, reaching highs of US$8,456.81 over a seven day period. As of 1:20 p.m. EDT on Friday, bitcoin was priced at US$8,393.93, according to CoinMarketCap. Bitcoin prices have more than doubled since the beginning of the year, when they were standing at US$3,754.82.
In the small- and mid-cap spaces, the five top gainers for last week were as follows:
- MMTec (NASDAQ:MTC)
- Coda Octopus Group (NASDAQ:CODA)
- NXT-ID (NASDAQ:NXTD)
- Pareteum (NASDAQ:TEUM)
- BroadVision (NASDAQ:BVSN)
MMTec was last week’s leading NASDAQ tech stock, with an over 40 percent gain since Monday’s open. Headquartered in China, MMTec is a newly listed company that provides online brokerage and trading services to clients. Among the focuses of the company are global asset allocation programs, investment advisory services, trading quotes and the development of middle and back office operations.
The company released no major news announcements last week. Its most recent report was its 2018 year-end financial results, released in April, where the company reported US$26,882 in revenue for professional services to customers.
Shares of MMTec had climbed to US$7.35 as of 1:40 p.m. EDT on Friday.
Coda Octopus Group
Coda Octopus is a 3D sonar technology company with clients in the US Department of Defense. Founded in 1994, the company manufactures its rugged technology, which is applied in port security, the oil and gas industries, marine construction and the defense sector.
On Thursday (June 13), the company announced its financial results for its 2019 fiscal second quarter. Over the period, Coda completed the purchasing of a research and development facility in Orlando for further work on its US defense projects. The facility will also be used for manufacturing.
Coda reported US$6.78 million in revenue, a 92 percent increase year-over-year. Shares of the company had reached US$14.07, a 36.23 percent hike, as of 1:37 p.m. EDT on Friday.
Based in Florida, NXT-ID is engaged in developing mobile applications. It has developed MobileBio, which involves biometric solutions for identity authentication in mobile payments. In addition, NXT-ID has released its wallet, called Wocket; Flye, a digital credit card; and FitPay, a wearable payment device.
NXT-ID had no updates last week; its most recent news came in May, when it announced its Q1 2019 financial results. The company reported US$4.2 million in revenue from continuing operations, a decrease from US$4.3 million during the same time period last year.
Over last week’s trading period, NXT-ID’s shares increased 10.63 percent to reach US$0.69 as of 1:48 p.m. EDT on Friday.
Pareteum is a mobile communications platform that was founded in 2001. The company’s services are centered around user engagement, cloud communications and scaling services. The company operates in over 200 territories worldwide.
On Monday, Pareteum announced that it will be joining the Russell 3000 Index as of July 1. “Inclusion in the Russell 3000 Index is a reflection of the strong customer growth, execution and financial performance that has characterized Pareteum during the past year,” Hal Turner, the company’s president, said in a press release. Inclusion in the Russell indexes is determined by a number of attributes, including market capitalization. June is the index’s transition month, when index updates are announced before it is reconstituted on June 28.
Pareteum’s share price rose 9.45 percent, reaching US$3.02 as of 1:40 p.m. EDT on Friday.
Headquartered in Redwood City, California, BroadVision is a social business solution company. Vmoso, its workplace platform, incorporates core aspects of knowledge management, communications management, process management and enterprise integration. Its platform integrates email and manages contacts comprehensively.
BroadVision reported no announcements last week. Its share price had climbed to US$1.51, a 7.19 percent hike, as of 1:50 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.