Top Stock Movers for the Week; PEGY, TOPS, FAZE & More
Stocks are destined to continue to fall further in anticipation of another Fed rate hike. It’s all but inevitable that the market will be collateral damage in the fight against inflation. For the week most stock indexes were up almost 1% but for the month they are all down including the Nasdaq which is down in the double digits. Despite the continued assault on wall street, some stocks managed to make huge gains this week. This is our top stock gainers for the week.
Bumper footage.
Welcome to Money Talk Sundayz. I'm your host Stevie Bee. For those tuning in via your favorite streaming platform hit that like and share button. You can also subscribe to the Money Talk Sundayz podcast. The link will be in the description box. For those viewing on YouTube, like, share, and subscribe. You can even hit the notification bell to receive the alerts of new videos dropping.
Coming in at number 1 with a ridiculous one-week change of 315.56% is Pineapple Holdings. Ticker symbol PEGY closed at 3.80 Friday with a trading volume at a whopping 14,122,766 shares.
Pineapple Holdings, Inc. provides photovoltaic solar energy systems to residential homeowners in the United States. It offers a range of installation services, including design, engineering, procurement, permitting, construction, grid connection, warranty, monitoring, and maintenance of residential solar energy systems. The company also offers battery storage products and energy management control devices on solar systems that are paired with batteries.
So why is PEGY moving? On the surface, it’s hard to say. It’s been a relatively light news cycle. The only thing I can see is that recent storms and rising utility bills are forcing people to unplug from the mainframe and go green. Keep an eye on this one going forward for sure. I can see this company expanding into European markets as winter descends on a region dealing with a fuel shortage.
In 2nd place we have Top Ships Inc with a one-week-change of 116.29%. TOPS closed trading at $7 and had a staggering trading volume of 22,966,322.
Top Ships Inc. owns and operates tanker vessels worldwide. The company's medium range tanker vessels transport crude oil, petroleum products, and bulk liquid chemicals. As of December 31, 2020, it had a fleet with a total capacity of 1,435,000 deadweight tonnes (dwt) consisting of one 50,000 dwt product/chemical tanker, five 157,000 dwt Suezmax tankers, two 300,000 dwt very large crude carriers, and two 50,000 dwt product tankers.
Shares of TOPS traded higher Friday after the company announced the day before that they would be terminating the equity distribution agreement for the recent sale of the company’s common shares. The equity distribution agreement was for up to an aggregate amount of $19.7 million with Maxim Group LLC in an at-the-market equity offering program. The company will make no further sales under the at-the-market offering. Net proceeds from sales under the at-the-market offering amounted to approximately $2.0 million.
TOPS is down considerably from their 52-week-high of $33 but so are all of your favorite publicly traded companies like Apple, Google, Tesla and more.
I’m not much into the industrials sector but this may be one to watch going forward. Buy low, sell high. That is the motto right?
Rounding out the top 5 we have Senti Biosciences, Inc., SAI.TECH Global Corporation, and FingerMotion, Inc. SNTI is up 92.31% on the week with a Friday closing of 4.48. SAI is 78.21% with a closing of 5.01. FNGR is 77.91% with a closing of 7.38.
Top 5 biggest losers for the week are: Biohaven Ltd., ticker symbol BHVN dropping 91.60%. KalVista Pharmaceuticals, Inc. (KALV) is down 66.46%. LGL Group is down 51.92%. Blue Apron Holdings is down 43.50%. FaZe Holdings is down 43.18%.
A couple weeks ago I was going to do an episode all about FAZE, which I did eventually buy in for a short term, but something more press
