5 Top Weekly NASDAQ Tech Stocks: Uber files for IPO

The NASDAQ Composite Index (INDEXNASDAQ:IXIC) started last week at 7,924.89 points on Monday (April 8) and settled at 7,967.1 points as of 12:00 p.m. EDT on Friday (April 12).

In line with this, the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 4,692.85 points before reaching 4,748.89 points as of 12:00 p.m. EDT on Friday.

Last week, Uber filed for its initial public offering (IPO), reporting in its S-1 that it “may not achieve profitability.” The company reported US$3.03 billion in operating losses in 2018. Uber’s IPO could be the most valuable since Alibaba Group Holding (NYSE:BABA) went public in 2014 and raised US$25 million, Reuters reported. Uber expects to be listed on the New York Stock Exchange.

Crypto exchange firm QuadrigaCX, which owes its clients C$250 million, was approved by a Canadian court to move forward in its bankruptcy proceedings.

Its founder, Gerald Cotton, died in February at the age of 30 during a trip to build orphanages in India. EY was assigned to the case, noting in a report, “given the present circumstances, the possibility that Quadriga will restructure and emerge from CCAA protection appears remote.”

In the small- and mid-cap spaces, over 50 stocks on the NASDAQ were in the green last week. The five top gainers are as follows:

• Phunware (NASDAQ:PHUN)
• Coda Octopus Group (NASDAQ:CODA)
• Inpixon (NASDAQ:INPX)
• Creative Realities (NASDAQ:CREX)
• USA Technologies (NASDAQ:USAT)

Phunware

Phunware is a mobile software platform company based in Austin, Texas, that helps organizations monetize their mobile presence. The company launches mobile apps designed to engage customers and create sticky experiences to keep users coming back.

On Thursday (April 11), Phunware won a patent for mobile device localization. Phunware currently has 16 patents with six patents pending.

The company climbed 44.7 percent over the week, rising to US$8.55 as of 1:04 p.m. EDT on Friday.

Coda Octopus Group

Coda Octopus Group has made this list for the second week in a row.

Founded in 1994, Coda Octopus Group provides technology services to the marine industry and applies the world’s only real time 3D sonar technologies. The company’s clients include ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX), the New York Police Department and the FBI.

On Thursday, there was a major news announcement from Coda Octopus Group and its partner Northrup Grumman (NYSE: NOC). Northrup Grumman was chosen to provide undersea threat detection services for The Defense Advanced Research Projects Agency Biological Technology Office.

Shares of Coda Octopus Group were up 26.39 percent to US$13.50 as of 1:18 p.m. EDT on Friday.

Inpixon

Based in Palo Alto, California, Inpixon is a security technology company that provides detection analytics to identify cell phones, Bluetooth and WiFi. Its services are used by government agencies, shopping malls and airports.

On Wednesday (April 10), Inpixon announced that it is acquiring Locality Systems, a company that provides visitor analytics from its WiFi positioning systems.

The company rose 15.56 percent over the week to US$1.03 as of 1:29 p.m. EDT on Friday.

Creative Realities

Through the use of augmented reality, Creative Realities provides digital signage services, connected retail, digital merchandising and omni-channel customer engagement systems. The company applies its digital marketing solutions to companies in the United States.

The company had no major news announcements last week. Looking back over the first quarter, the company reported in March a 27 percent increase in revenue over 2018, while organic revenues increased by 12 percent over the same time period.

Shares of Creative Realities climbed 13.21 percent to US$2.40 as of 1:33 p.m. EDT on Friday.

USA Technologies

USA Technologies is an electronic payment services company that provides secure and wireless services through its ePort ConnectR and loyalty program, MORETM. In 2014, the company collaborated with Apple (NASDAQ:AAPL) in the launch of Apple Pay.

Last week, the only news that USA Technologies reported was the appointment of three independent directors, Patricia A. Oelrich, Ingrid S. Stafford and Donald W. Layden, Jr. In late March, Retail CIO Outlook awarded USA Technologies with a spot in its Top 10 Retail Payment/Consulting Services list for 2018.

The company gained 11.78 percent over the week, rising to US$4.97 as of 1:41 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.