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Verizon and Snap Partner in 5G Augmented Reality Innovation

Verizon (NYSE:VZ), provider of 5G wideband technology has partnered with Snap (NYSE:SNAP). As part of the partnership, Snap will be utilizing Verizon’s 5G technology for its augmented reality, gaming and visualization features on its platform.

As quoted in the press release:

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Snap Issues US$1 Billion in Convertible Debt

On Tuesday (August 6), Snap (NYSE:SNAP), parent company of mobile app SnapChat, announced that it will be issuing US$1 billion in convertible debt.

Scheduled to mature on August 1, 2026, the debt is planned to be used for company operations, including working capital, AR developments and acquisitions. The convertible senior notes will offer a 0.75 percent interest rate paid semiannually.

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5 Top Weekly NASDAQ Tech Stocks: Index Stays Flat After a High

The NASDAQ Composite Index (INDEXNASDAQ:.IXIC) started the week on Monday (December 10) at 6,959.63 points and reached its peak of 7,192.27 points on Wednesday (December 12). However, the index dipped in the following days to settle at 6,948.11 points as of 2 p.m. EST on Friday (December 14).

Meanwhile the NASDAQ Technology Index (INDEXNASDAQ:NDXT) started the week at 3,811.99 points on Monday and reached its peak of 3,981.33 points on Wednesday. The index however dipped to settle at 3,858.11 points as of 2.04 p.m. EST on Friday.

Facebook (NASDAQ:FB) announced on Friday that it exposed up to 6.8 million users’ photos uploaded onto its network but not posted onto its platform to app developers. The company said that the expose also included photos uploaded onto its Stories platform.

On that note, over 50 stocks in the small and mid-cap category gained in the week including:

  • HyreCar (NASDAQ:HYRE)
  • Mitek Systems (NASDAQ:MITK)
  • SGOC Group (NASDAQ:SGOC)
  • Communications Systems (NASDAQ:JCS)
  • Data I/O (NASDAQ:DAIO)

Here’s a closer look at those companies and what moved their share prices.

HyreCar

With a gain of 22 percent in the week, HyreCar topped the charts with its stock settling to trade at US$2.20 as of 2.15 p.m. EST on Friday.

The company is engaged in carsharing marketplace for ridesharing and operates in 50 states across the US along with the District of Columbia.

However, the company didn’t make any significant announcements that explained its share price hike in the week.

Mitek Systems

Second on the list is a company engaged in mobile capture and digital identity solutions. Shares of Mitek Systems settled to trade at US$10.55 as of 2.15 p.m. EST on Friday with a 17.61 percent increase.

Throughout the week, the company released multiple updates with the Securities and Exchange Commission (SEC), including the annual report.

SGOC Group

SGOC Group is engaged in the product design, distribution and brand development in the Chinese display, computer and virtual reality market. The company lands third on our five top weekly NASDAQ tech stocks list.

The company’s stock increased 14.33 percent and settled to trade in at US$1.05 as of 2.15 p.m. EST on Friday.

However, the company didn’t make any significant announcements that explained its share price hike in the week.

Communications Systems

Communications Systems takes the fourth spot on the list with a 10.45 percent increase to its stock to reach US$2.43 as of 2.15 p.m. EST on Friday.

The company is a provider of connectivity infrastructure and services for deployments of broadband networks.

Communications Systems announced on Friday the corporate restructuring and reduction of its quarterly dividend, stating the restructuring is expected to bring in US$2.5 million in annual cost savings.

Data I/O

Taking the last spot on our list is a company that provides advanced data programming and security provisioning solutions for flash-memory and flash based microcontrollers.

The company’s stocks gained 9.90 percent over the week to trade at US$5.55 as of 2.15 p.m. EST on Friday.

However, the company didn’t make any significant announcements that explained its share price in the week.

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

Data for 5 Top NASDAQ Stocks articles is retrieved each Friday as of 12:00 p.m. EST using TradingView’s stock screener. Only companies with a market capitalization of less than $500 million prior to the week’s gains are included. All companies in the technology sector are considered.

Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.

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