After a relatively hectic week, we can now say – Happy Friday! This week, international stocks had a pronounced presence on our Rippers list, but biotech and diagnostics are the biggest winners today.
📱 If you’ve been long on big multinational tech companies like Microsoft, Google, Tesla, or Apple — you’ve had a great last few months. The biggest five tech players in the S&P 500 now comprise 21.6% of its weighting. However, this week was especially rewarding to those HODLing $TSLA and $AAPL stock. The two hit new 52-week highs in trading this week. It says a lot about the vast swaths of money going into these big tech companies, which are now trading at hundreds of times their forward earnings. In short: there’s a lot of hype.
🏠 Rocket Companies, a digital mortgage financer, is riding the wave made by historically low mortgage rates and ample consumer spending in the housing sector. Today, the National Association of Realtors shared sales of existing homes soared nearly 25% in July. The recently IPOed $RKT saw a nearly 9% jump today, adding to a 33.5% gain this trading week. It’s a volatile stock, but one that appears to be rewarding its first investors and attracting them with a nice dividend as well. These moves since IPO have made Rocket’s CEO, Dan Gilbert, worth almost $50 billion.
🔌 Semiconductors, which have been on our list repeatedly since Intel’s earnings report meltdown, also make a spiritual appearance today in NVIDIA — one of the largest semiconductor companies in the world. $NVDA produces compute products for data centers, graphics cards, and other technologies. This industry is relatively cyclical, but COVID-19 has given the semiconductors a boost as increased demand for tech consumption has delivered blowout quarterly earnings. That said, $NVDA shares a lot in common with $AMD and $INTL in the U.S. markets for semiconductors. They’re all worth closer examination.
🧪 Biotech was big on today’s list. Syros Pharmaceuticals, a cancer-centric biotech, returns to our list after a 21.6% jump this week. $SYRS has two mid-clinical indications for AML, a form of leukemia. Arcturus Therapeutics, which is creating a COVID-19 vaccine, jumped 6.6%, $ARCT is negotiating to sell their vaccine to countries and already inked a deal with Israel and Singapore. Protagonist Therapeutics also made our list with a 5.2% jump. $PTGX has two late-stage drug trials for blood disorders. Research and diagnostics company Invitae saw a 4.8% jump in regular trading today. $NVTA marks the second appearance of a diagnostics company this week on the Rippers list.
🚜 Our final Ripper, John Deere, made a 4.4% jump today after analysts suggested $DE could outpace competitors such as Caterpillar. $DE makes tractors and mowers; along with a large variety of equipment for agriculture, construction, forestry, and government. Their recent quarterly earnings suggest there is plenty of room for growth.
That’s all for this week’s Rippers, check back next week to see the stocks making moves 📈📈📈