Good afternoon everybody and welcome to the first edition of the Saturday Rip – We’re going to call this one The Stocktwits Top 25 and we’re going to make it a regular thing. We think you’re going to dig it.
The Stocktwits Top 25 reports the top 25 performing stocks in the S&P 500 year to date (YTD) and analyzes related data.
Please let us know what you think by hitting us up at firstname.lastname@example.org.
Here’s the Stocktwits Top 25 for the market week ending April 24, 2020:
The Momentum Meter
The Stocktwits Momentum Meter calculates the average weekly performance of the top 25 stocks in the S&P 500 YTD. It is a simple way to observe how the top stocks are performing from week to week.
This week, the Momentum Meter measured -0.21%, flat as Kansas. This was a bit better than the -1.32% performance for the S&P 500 for the week.
Last week, the Momentum Meter read +7.95% so the drop off here was considerable week over week. The leaders are still outperforming the broader large cap index but lost some mojo at least for the time being.
Once we have a few more weeks of data, we’ll chart the Momentum Meter reading, analyzing trends and relative performance. We’re stoked to see what we might find so stay tuned…
ST Top Dawg Of The Week
△ #2 Newmont Mining Corp. showed out this week gaining another 6.5%. It is now up 45% YTD.
$NEM produces gold, copper, silver, zinc, and is a first hand beneficiary of the rally in the price of gold which rose 2% on the week.
It gained 7% on #1 Regeneron last week and all of a sudden we’ve got a race for number one.
Here’s the $NEM YTD chart. Beauty…
Here’s the gold YTD chart. Similar…
Rippers and Dippers
△ Eli Lilly and Co gained 3.59% for the week and rose from #16 to #10 on the list. $LLY blew out earnings earlier in the week and you can read more about it here.
Apparently, people love drugs. 😊
△ MSCI Inc moved up from #13 to #7 after rising 2.43% on the week. The stock is now up over 25% on the year.
$MCSI reports earnings Tuesday morning and has beat estimates for the last 5 quarters consecutively. Keep an eye…
▼ Gilead Sciences fell 5.18% this week and dropped 7 spots on the list from #6 to #13. There were negative reports on $GILD’s coronavirus drug Remdesivir and frankly we’d need to publish a Playbill and flowcharts to try to explain it all. Read more about it here if you want but stay skeptical folks because this one is a noise festival.
△ Incyte Pharma is making quite the two week move. Last week, it entered the ST Top 25 list for the first time at #25 after ripping 15%. This week, it rallied another 3.36% and rose from #25 to #16.
This puppy is up 63% since March 23. Damn Gina! Have a look at the YTD chart below…
The Freshman Class
The Freshman Class includes stocks new to the Stocktwits Top 25 this week.
△ Cadence Design Systems makes its debut at #19 rising 2.38% for the week. It is now up 16% on the year. $CDNS beat on earnings earlier in the week and ripped 7% on Wednesday. Here’s IBD’s take on the report for those interested.
△ Kroger Co makes its ST Top 25 debut at #24 after rallying 3.23% this week. It’s now up 13.69% on the year. Brick and mortar retail has been tough but the nation’s largest grocer has adapted well to the COVID environment, waiving fees on curbside pick-up and offering free virus testing in some locations. Two smart moves, $KR.
△ Progressive Corp entered the list at #22 after gaining 0.45% on the week. No big news and no outsized volatility to speak of. $PGR is now up 14.48% YTD.
Insurance companies do the math and sell the fear – plenty of the latter these days so…
With 3 newbies joining the list, 3 others had to get the boot.
▼ Dollar General fell 3.37% last week. There was no significant news. The stock had an inside week. It is still up 12.8% YTD.
▼ Jack Henry & Associates lost 6.22%, dropping out from #22 last week. Two weeks ago $JKHY was #9. It has seen better days.
▼ Biogen gapped down on Wednesday following earnings. The stock gave up 13% last week, oof.
$BIIB is now flat for the year. Here’s the chart YTD…
Keep An Eye Out
40% of the companies on this list report earnings next week. Things could look a whole lot different 7 days from now.
#7 MSCI BMO
#14 AMD AMC
#15 AKAM AMC
#11 VRTX BMO
#21 ROL AMC
#23 CCI AMC
#4 AMZN AMC
#13 GILD AMC
#17 COG AMC
#9 CLX BMO
Amazon and Gilead on Thursday after the close should be a hoot…
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