JKS - 5 Top Weekly NASDAQ Tech Stocks: Index Dips 1 Percent
The NASDAQ Composite Index (INDEXNASDAQ:IXIC) started last week at 8,040.58 points on Monday (June 24) 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, JinkoSolar Holding Company Limited (NASDAQ:JKS), reported their first quarter earnings. The company reported over US$867 million in revenues, increasing at a 27 percent year-over-year uptick. Net income reached US$6 million for the company, which is based in Shanghai.
The Guardian reported on Friday that Facebook (NASDAQ:FB) and Google (NASDAQ:GOOG) are facing scrutiny by Australian regulators on their news and advertising practices. In a Digital Platforms Inquiry, the Australian Competition and Consumer Commission shows that almost 50 percent of digital advertising is paid to Google and over 20 percent to Facebook.
In the small- and mid-cap spaces, the five top gainers for last week were as follows:
- MMTec (NASDAQ:MTC)
- Silversun Technologies (NASDAQ:SSNT)
- Ideanomics (NASDAQ:IDEX)
- Sito Mobile (NASDAQ:SITO)
- Professional Diversity Network (NASDAQ:IPDN)
MMTec
As the leading company two weeks in a row, MMTec shares have shown over 53 percent growth for the week 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 an incubation platform to invest abroad.
Despite the increase, MMTec had no announcements that could relate to its price hike.
Silversun Technologies
Based in East Hanover, New Jersey Silversun Technologies is the second company on this list. Silversun Technologies is primarily a third-party business reseller that also provides software solutions for resource planning and billing systems.
Silversun Technologies reported no major news announcement last week. Despite this, its shares reached US$3.05, representing a 23.06 percent hike, 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 in currently development in Hartford, Connecticut.
On Monday, Ideanomics signed a memorandum of understanding (MOU) 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 U$2.17as of 11:57 a.m. EDT on Friday.
Sito Mobile
Sito Mobile is a location-data technology company based in Jersey City, New Jersey. The company applies proximity targeting, in-store targeting and attribution data to brands to better understand consumer behavior. Through the companies location intelligence, it provides consumer insights and solutions for advertising.
Over the week, Sito Mobile’s share prices 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. Its website has reported over 1.5 million hits. The company provides training, education and networking services and has partnerships in Asia.
Although the company had no announcements, over the week Professional Diversity Network’s share prices rose 18.10 percent, reaching US$2.048 as of 9:30 a.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.