Good afternoon everyone and welcome back to the Stocktwits Top 25 Newsletter for Week #29, 2020.
The Stocktwits Top 25 reports the top 25 performing stocks in the S&P 500, Nasdaq 100, and Russell 2000 year to date (YTD) and tracks their performances over time.
Here’s your Stocktwits Top 25 Lists for Week #29:
ST Top 25 S&P 500
13 out of 25 names on the Stocktwits Top 25 S&P 500 traded higher.
$DXCM and $NVDA both fell > 2.5% for the week. Dexcom is still ranked #1 while $NVDA is the first loser at #2.
ABIOMED, Inc. rose 7.58% and 4 spots from #8 to #4. It was the ST Top 25 S&P 500’s biggest winner. More on this below.
$AMZN traded down 7.44%. It gave up the #3 spots and fell to #8.
Four new names appeared in Week #29. The names included IDEXX Laboratories, Vertex Pharmaceuticals, Chipotle Mexican Grill, and Rollins Inc. $ROL entered the list at #16 after gaining 6.41% this week.
Here’s the ST Top 25 List for the S&P 500 for Week #29:
The Stocktwits Momentum Meter calculates the average weekly performance of the top 25 stocks and reflects how the top stocks are performing week to week relative to the broader index.
The ST Top 25 S&P 500 Momentum Meter rose 0.38% while the S&P 500 Index gained 1.25%. The differential suggests that the ST Top 25 S&P 500 List underperformed the broader index for the first time in the last 7 weeks. The leaders took a breather.
The Big Cap Nasdaq 100
The top stocks in the Nasdaq 100 were hit with a wave of selling, the most we’ve seen in weeks. Only 8 of the 25 closed higher.
Big cap tech have been leaders but lagged this week. This could be rotation or something more insidious. Place your bets…
Freshman IDEXX Laboratories moved onto the ST Top 25 N100 List, claiming the #21 spot. The stock powered up 3.43% this week.
$NFLX reported earnings Thursday after the close & guidance sucked. The stock lost 10% on the week and fell four spots from #8 to #12.
$ZM was weak alongside other leading tech names. It dropped 10%, but remained ranked #1 slightly above $TSLA . The race for #1 is heating up here on the N100 List.
Apple had just enough juice to crack the Top 25. The 0.42% gain bucked the tech weakness and earned the stock the #24 spot on the ST Top 25 N100 List. The stock made an all-time high weekly close. Stud.
The ST Top 25 Nasdaq 100 Momentum Meter dropped 2.46% while the Nasdaq 100 closed the week down 1.72%. The 0.74% differential suggests that the top stocks underperformed the full index.
We should note, since the inception of the Stocktwits Top 25 this is the first time the ST Top 25 N100 Momentum Meter has given a negative reading. Incredible.
Small-Cap Russell 2000
Do Russell 2000 stocks only go up? Seems like it. In Week #29, 19 of the 25 names registered gains. 🚀
$NVAX soared 49% and is now up more than 3,000% this year! This comes on the heels of last week’s 15% gain. See more below.
3 Freshman names entered the list in Week #29. Sunrun Inc and Vivint Solar Inc were the standouts gaining 26.42% and 27.44% respectively. The two companies just signed the largest transaction in the distributed energy market’s history. See more below.
Zynex Inc. dropped 25% and fell eleven spots from #9 to #20 on public offering news, sh*t happens.
Here’s the ST Top 25 List for the Russell 2000 for Week #29:
The Russell 2000 Index gained a respectable 3.56% last week while the ST Top 25 Russell 2000 Momentum Meter jumped 9.56%.
That’s a 6% differential in favor of the ST Top 25 R2K. This is the 5th week in a row that the top stocks in the Russell 2000 have outperformed the full index.
ST Top 25 TOP DAWG OF THE WEEK 🐶
The ST Top 25 Top Dawg of the Week for Week #29, 2020 is Novovax. This stock is turning into one of the greatest of all time right in front of our eyes 👀🚀👊
$NVAX jumped another 49% for the week and is now up an astonishing 3430% YTD.
Last week, the company received $1.6B from Operation Warp Speed to help accelerate its coronavirus vaccine work. Then, late this week, The New York Times published a feature titled How a Struggling Company Won $1.6 Billion to Make a Coronavirus Vaccine.
If you are at all interested in the space, this is must read stuff. It is a positive piece, though it does include some skepticism.
Here is a money quote:
With the second CEPI contract in hand, Novavax was finally able to “get more and more traction,” Mr. Trizzino said. In June, the department awarded the company $60 million. “And ultimately, Operation Warp Speed took over from there,” he said.
“They have shown very encouraging and promising results,” said Robin Robinson, who was the head of Novavax’s vaccine division until 2004, when he left to become the head of BARDA’s influenza division, and then its director.
Dr. Robinson helped develop an earlier version of the company’s vaccine technology and consulted for Novavax on their flu vaccine. “I do expect the vaccine to be one of the ones in the winner’s circle next year.”
Here’s the gnarly YTD $NVAX chart. Woulda, Shoulda, Coulda…
The Winners 📈
△ #4 S&P 500 – ABIOMED began Monday ranked #8 but closed Friday ranked #4. The impressive 7.58% weekly gain was enough to make $ABMD the ST Top 25 S&P 500’s second biggest mover after jumping 4 spots.
On Thursday, Abiomed was granted an FDA approval which allows the medical company to stream patient data from heart pumps to monitoring platforms in hospitals around the country.
$ABMD is up 118% since its March 20 low and up 67% YTD. 💪
△ #21 N100 – IDEXX Laboratories, Inc. was 1 of only 8 gainers this week on the ST Top 25 N100 list. For reference, 23/25 stocks closed higher last week. 😳
IDEXX Laboratories develops and manufactures products for veterinarians. The company is a global leader in water microbiology. IDEXX Water provides tests to ensure the safety of drinking water for over 2 billion people.
Here’s the YTD chart.
$IDXX is up 34% YTD.
△ #21 R2K – Sunrun Inc was electric this week. The American solar company vaulted to new all-time highs on incredible volume. $RUN gained 27.44% this week and is up 84% the past 2 weeks alone!
Earlier this month, Sunrun announced its intent to acquire Vivint Solar. Sunrun is currently the largest residential solar company in the U.S. with Vivint Solar being the second largest. This deal is massive, big enough to become the single largest transaction in the distributed energy market’s history.
Sunrun is up 166% YTD. 🌞
The Sinners 📉
▼ #20 R2K – Zynex Inc. stunk this week. It lost 25% and fell from #9 to #20 on the ST Top 25 R2K List. It’s seen better days.
$ZYXI fell 14% on Wednesday following news that the medical company would be pricing its previously announced underwritten public offering of 2.5 million shares at $22/share. It was trading at 26 before the announcement. 🙃
Still, the stock is up 172% YTD.
▼ #9 S&P 500 – Netflix Inc. If $NFLX earnings was a Rotten Tomatoes rating, it would’ve been a 12. The stock lost 10% and gave up 2/3s of the prior week’s gains. 🤷♂️
$NFLX reported after the close on Thursday and the guidance was poor.
The stock dropped on weak subscriber growth guidance for Q3 despite adding 10M subscribers this quarter.
The company announced Ted Sarandos as new co-CEO and member on the Board of Directors. Best of luck to the new team.
$NFLX is still up an impressive 62.83% YTD.
▼ #7 N100 – Mercadolibre Inc, the “Amazon” of South America, was down 4 out of the 5 trading days last week. The stock lost 7% and dropped 2 spots on the ST Top 25 N100 List.
$MELI announced a partnership with Shipstation on Wednesday. ShipStation partners with leading fulfillment services and carriers with the likes of UPS, Amazon, Shopify and FedEx. ShipStation is close with e-commerce companies in the United states, which gives Mercado Libre’s buyers access to a larger variety of products.
ShipStation Head of Industry Relations, Krish Iyer had this great quote when talking to E-Commerce Times,
Mercado Libre’s buyers will get access to even greater product variety and options, via ShipStation’s network of tens of thousands of U.S. merchants
Coulda been a sell the news situation. Still, $MELI is up 68.68% YTD.