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 8,325.1 points on Monday (July 29) and had settled at 7,986.17 points as of 12:22 p.m. EDT on Friday (August 2).
The NASDAQ took a downward turn following the US Federal Reserve’s announcement on Wednesday (July 31), falling over 4 percent last week. After Fed Chair Jerome Powell cut interest rates by 0.25 percent for the first time since 2008, all major indices tilted into negative territory.
Thursday (August 1) saw the US slap a 10 percent tariff on US$300 billion worth of Chinese goods. Executives at Apple (NASDAQ:AAPL) responded by publishing a note saying that the tariffs could negatively impact the company’s earnings per share.
In other news, on Monday over 100 million client records were exposed in a Capital One (NYSE:COF) data breach. Paige Thompson, a 33 year old former Amazon (NASDAQ:AMZN) employee, was found to be the suspect, and US Congress officials are now calling on both Capital One and Amazon, its cloud service provider, to provide an explanation.
Looking back at the week, in the small- and mid-cap spaces, the five top gainers were as follows:
- Liquidity Services (NASDAQ:LQDT)
- PFSweb (NASDAQ:PFSW)
- SITO Mobile (NASDAQ:SITO)
- RumbleOn (NASDAQ:RMBL)
- BroadVision (NASDAQ:BVSN)
Here’s a look at what moved their share prices.
Headquartered in Washington, DC, Liquidity Services helps firms buy and sell surplus inventory. The company operates within many sectors, including industrial, retail and government surplus assets.
On Thursday, the company announced its unaudited results for the third quarter of the 2019 fiscal year. Consolidated revenue for the quarter reached US$56.9 million, rising over 10 percent from the year-ago period. Its government and retail segments helped drive revenue for the quarter, gaining 6 percent and 18 percent year-on-year, respectively.
Shares of Liquidity Services had increased 13.65 percent to reach US$7.39 as of 12:45 p.m. EDT on Friday.
PFSweb is an ecommerce-focused company that provides branding services to help online businesses grow. Its clients includes the likes of L’Oreal (EPA:OR). To help companies improve their online visibility, PFSweb creates personalized dashboards and brand enhancements while improving business inventory.
RetailConnect, its omni-channel delivery system, connects ecommerce with brick and mortar retail. Its second primary product, CloudPick, is a technology that assists with online checkouts.
While PFSweb had no major announcements last week, it did report that its second quarter conference call will be held on August 8. PFSweb’s shares were up 13.2 percent last week to hit US$8.86 as of 12:07 p.m. EDT on Friday.
SITO Mobile is a location services company that harnesses data to provide insight for its clients. In its analyses, the company uses location data technology to gain understanding of consumer behavior.
While the company had no announcements last week, its shares were up 10.77 percent to US$0.72 as of 11:50 a.m. EDT on Friday.
Online vehicle marketplace platform RumbleOn casts a wide net with its platform, hosting vehicles such as trucks, RVs, boats and motorcycles. In addition to buying and selling processes, RumbleOn offers a host of services for its users, from shipping to financing.
RumbleOn had no announcements last week. Its shares were up 10.2 percent to US$4.67 as of 11:51 a.m. EDT on Friday.
Broadvision is an ebusiness communications company.
QuickSilver, its documentation tool, allows businesses to create documents in any language with considerable speed. Its business-to-business platform, BroadVision 9, is a communications solution that allows users to access files and contracts in a single space. Vmoso is another of its leading products, and is a workplace hub featuring a communication platform that integrates instant messaging and email, as well as project and document consolidation for easy collaboration and reference.
BroadVision did not have any news last week. Its shares had climbed to US$1.39, a 5.7 percent increase, as of 12:39 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.