5 Top Weekly NASDAQ Tech Stocks: Uber Reports US$1 Billion Q1 Loss

- June 2nd, 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 7,655.66 points on Tuesday (May 28) and had settled at 7,496.38 points as of 12:00 p.m. EDT on Friday (May 31).

On Thursday (May 30), ride hailing company Uber (NYSE:UBER) reported a US$1 billion loss over the first quarter. CEO Dara Khosrowshahi explained the loss in a conference call by saying that 2019 will be an “investment year,” according to Reuters. Shares had dropped over 4 percent from their May 10 debut price of US$41.57 as of 12:42 p.m. EDT on Friday.

Wednesday (May 29) saw Google (NASDAQ:GOOG) announce that it will not allow apps that help sell cannabis in its app store. As part of a new policy, app developers will have to make the shopping cart feature separate from the app.

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

  • Silversun Technologies (NADAQ:SSNT)
  • Attis Industries (NASDAQ:ATIS)
  • Ameri Holdings (NASDAQ:AMRH)
  • Majesco (NASDAQ:MJCO)
  • MMTec Inc (NASDAQ:MTC)

Silversun Technologies

Silversun Technologies is a technology solutions company for small- and medium-sized businesses. The company has three primary areas of business: providing proprietary software services, reselling scalable third-party software and monitoring networks for cloud and email services.

Over the week, Silversun Technologies did not release any notable news. Its most recent update came on May 13, when the company reported its first quarter financial results. The company reported a 12.7 percent increase in revenue year-over-year to total US$10.49 million, with gross profit increasing by 13.6 percent over the same time period.

Company shares had climbed to US$3.05, a rise of over 32.37 percent, as of 12:08 p.m. EDT on Friday.

Attis Industries

Founded in 1993, Attis Industries has a diverse portfolio of businesses in cleantech, healthcare, mobile and other industries. Attis Innovations, for example, is the company’s renewable resources division and it focuses on sustainable and low-cost sourcing through its proprietary technology. Its services are applicable to industries such as bioplastics, construction, renewable fuels and pulp fibers.

While there was no news last week for the company, on May 23, Attis announced that it was late in filing its 10-Q. In March, Attis Industries underwent a one for eight reverse split for its common shares to keep its NASDAQ listing.

Over the week, Attis Industries rose 27.93 percent, reaching US$2.62 as of 11:26 a.m. EDT on Friday.

Ameri Holdings

Google cloud solutions company Ameri Holdings provides specialized teams to further integrate and help businesses with SAP CRM software, as well as services such as end-to-end project management, product rollouts, cloud management and IT outsourcing.

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On Friday, the company released its first proof of concept, which allows clients to migrate to the Google cloud platform. “This migration also demonstrates the strategic role we occupy in advancing clients’ cloud roadmaps to help them meet their business goals,” said CEO Brent Kelton.

Ameri Holdings shares were at US$0.36, an increase of 21.1 percent, as of 12:22 p.m. EDT on Friday.

Majesco

Insurance technology company Majesco is focused on innovative insurance services. These include real-time, cloud-based insurance client engagement apps generated from a data-driven platform. Majesco provides a number of different insurance apps, from billing to claims, to broaden its product offerings.

Majesco reported no major news for the week. On May 7, the company announced its yearly and fourth quarter results for the 2018 fiscal year. The company reported annual revenues of US$137.7 million, a 13.7 percent increase over the previous year. In addition, full-year EBITDA reached 12.7 percent for 2018.

Over the week, shares of Majesco rose 13.88 percent to reach US$9.13 as of 12:01 p.m. EDT on Friday.

MMTec

Founded in 2015, MMTec provides tech services to the finance industry. With headquarters in China, MMTec operates an asset allocation platform, and also offers trading software and brokerage solutions. According to Capital Watch, the online brokerage company had a US$8.28 million IPO in January.

Over the week, MMTec did not release any news. Nevertheless, its share price had risen to US$4.80 as of 12:22 p.m. EDT on Friday. That is a 13.57 percent hike over the trading period.

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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