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 7,819.43 points on Monday (June 17) and had settled at 8,048.64 points as of 11:43 a.m. EDT on Friday (June 21).
On Tuesday (June 18), Facebook (NASDAQ:FB) released its long-awaited Libra cryptocurrency whitepaper. It also created Calibra, a subsidiary that is focused on separating users’ social data from their financial data. The company said that it aims to empower billions of unbanked individuals.
In the small- and mid-cap spaces, the five top gainers for last week were as follows:
- MMTec (NASDAQ:MTC)
- Internap Corp (NASDAQ:INAP)
- Professional Diversity Network (NASDAQ:IPDN)
- NXT-ID (NASDAQ:NXTD)
- Asure Software (NASDAQ:ASUR)
For the second week in a row, MMTec was the top tech stock on the NASDAQ. Based in China, MMTec is a fintech company that provides services for online brokerages. Its services include investment advisory, institutional compliance, 24 hours a day, seven days a week technical support and clearing data services. The company also offers services that facilitate access to US financial markets.
There were no major news announcements for the company over the week. Its most recent news came in April for its 2018 fiscal financial reports. The company reported over US$26,000 in revenue from professional services. Gross profit for the company reached US$10,500.
MMTec’s shares had reached US$8.62, a 20.18 percent hike, as of 10:58 a.m. EDT on Friday.
With headquarters in Atlanta, Georgia, Internap operates 53 energy-efficient data centers in 21 markets, with locations in North America, Europe and Asia. Internap offers multicloud management solutions, which it uses to help clients onboard their cloud data infrastructure.
On Tuesday, Internap announced that it is expanding its flagship data center in Los Angeles by an additional 12,000 square feet. Internap plans to increase its total power capacity to 3.2 megawatts from 1.4. Internap will also be partnering with DediPath, which will be the data center’s anchor tenant.
Shares of Internap had increased by 18.95 percent to reach US$2.95 as of 12:17 p.m. EDT on Friday.
Professional Diversity Network
Professional Diversity Network is a technology company that connects employers and employees. Founded in 2003, Professional Diversity Network lists over 300,000 jobs and has offices in the US and China. Its focus is on promoting diverse and inclusive workplace environments.
Last week, Professional Diversity Network announced that it is developing a new subsidiary, the Kids Enrichment Academy (KEA). This subsidiary will be principally engaged in education programs for children in primary and secondary schools in China. The programs will be offered in person and online. “Education has always been our focus since IPDN entered the China market in 2017,” Michael Wang, chairman and CEO of Professional Diversity Network, said in a press release. KEA will also provide science, technology, art, mathematics and mental health programs.
Over the week, Professional Diversity Network’s share price rose 17.48 percent, reaching US$2.06 as of 9:30 a.m. EDT on Friday.
Headquartered in Florida, NXT-ID is a mobile security company that offers a multi-service platform with services including Notify911, Fitpay and LogicMark. Employing biometric technology for the identity verification app MobileBio, NXT-ID provides added layers of security for payment platforms. In addition, the company has developed Wockett, its online wallet.
With no major news announcement last week, NXT-ID nevertheless enjoyed a 17.31 percent uptick. The company’s most recent news release was published in May, when it launched a product video for its contactless payment device, Flip. This device allows bitcoin holders to exchange their cryptocurrency for US dollars to then pay for retail items.
NXT-ID’s shares had reached US$0.79 as of 12:28 p.m. EDT on Friday.
Founded in 1985, Asure Software is based in Austin, Texas and is focused on providing workplace technology solutions. Its Smart Office Platform is designed to attract new talent, increase employee retention and provide actionable insights on productivity. In addition, the company offers occupation sensors for buildings and provides room scheduling services.
Asure Software had no new major announcements over the week. Shares of the company had reached US$7.80 as of 12:24 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.