5 Top Weekly NASDAQ Tech Stocks: Ideanomics Gains on MOU

- June 30th, 2019

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 8,040.58 points and had settled at 7,993.36 points as of 12:00 p.m. EDT on Friday (June 28).

On Friday, the world’s foremost solar panel manufacturer, Shanghai-based JinkoSolar Holding Company (NASDAQ:JKS), reported its first quarter earnings. The company reported over US$867 million in revenue, a 27 percent year-over-year uptick. Net income reached US$6 million for the company.

Also on Friday, the Guardian reported that Facebook (NASDAQ:FB) and Google (NASDAQ:GOOG) are facing scrutiny from Australian regulators on their news and advertising practices. The Australian Competition and Consumer Commission estimates that almost 50 percent of digital advertising money is paid to Google and over 20 percent to Facebook.

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In the small- and mid-cap spaces, the five top gainers for last week are as follows:

  • MMTec (NASDAQ:MTC)
  • Silversun Technologies (NASDAQ:SSNT)
  • Ideanomics (NASDAQ:IDEX)
  • Sito Mobile (NASDAQ:SITO)
  • Professional Diversity Network (NASDAQ:IPDN)

Here’s a look at what moved their share prices during the period.

MMTec

MMTec has led this list for two weeks in a row. Last week, shares of the company rose over 53 percent to US$15.52 as of 11:52 a.m. EDT on Friday.

The fintech company specializes in services for online brokerages, trading, investment advisory and wealth management. In addition, it provides Chinese institutional investors with an incubation platform to invest abroad.

MMTec made no announcements last week that would explain its share price hike.

Silversun Technologies

Based in New Jersey, Silversun Technologies is primarily a third party business reseller. It also provides software solutions for resource planning and billing systems.

Silversun Technologies shared no major news announcement last week. Even so, its share price had reached US$3.05, a 23.06 percent increase, as of 11:09 a.m. EDT on Friday.

Ideanomics

Founded in 2004, Ideanomics is a fintech company with a focus on blockchain technology and artificial intelligence. It further provides advisory services for access to overseas markets. Ideanomics has offices in New York and Beijing, with a Fintech Village currently in development in Connecticut.

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On Monday (June 24), Ideanomics signed a memorandum of understanding with JAC Motors, based in China. The two companies are planning on working on electric vehicle taxi fleets in China. Ideanomics will provide financing and advisory services as part of the agreement.

Shares of Ideanomics increasd by 22.86 percent to US$2.17 as of 11:57 a.m. EDT on Friday.

Sito Mobile

Sito Mobile is a location data technology company based in New Jersey. The company applies proximity targeting, in-store targeting and attribution data to brands to better understand consumer behavior. Through its location intelligence, the company provides consumer insights and solutions for advertising.

Over the week, Sito Mobile rose 22.23 percent, reaching US$0.80 as of 11:40 a.m. EDT on Friday.

Professional Diversity Network

Professional Diversity Network focuses on promoting diverse and inclusive workplace environments. The company provides training, education and networking services and has partnerships in Asia.

Although the company had no announcements, over the week its share price rose 18.1 percent, reaching US$2.48 as of 9:30 a.m. EDT on Friday.

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

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.

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