Good afternoon, everyone and welcome to the Stocktwits Top 25 Newsletter for Week 42, 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 42:
ST Top 25 S&P 500
19 of the 25 stocks in the ST Top 25 S&P 500 were green.
IDEXX Laboratories was the list’s biggest winner, up 6%. It moved up 5 spots from #24 to #19. More on this below.
Salesforce.com fell 8 spots from #15 to #23, oof. It was the biggest loser.
$ETSY leads the ST Top 25 S&P 500 List with a YTD return of 233%. It is a freshman along with $CTLT.
***$ETSY and $CTLT were recently added to the S&P 500.
The Stocktwits Top 25 S&P 500 Momentum Meter gained 1.64% while the S&P 500 gained 0.19%. The differential of 1.45% indicates that the top stocks in the S&P 500 outperformed the full index by a good percentage.
The Big Cap Nasdaq 100
The ST Top 25 Nasdaq 100 List had 19 names close higher in Week 42. Same as the S&P. How bout that.
The top 7 stocks stayed put.
Zoom Video zipped 13.6% this week to extend its lead on Tesla. $ZM is this week’s Top Dawg, see it below.
#23 NetEase fell 2.3% WTD and moved down a spot on the list.
$ADSK was the only new Freshman to the list. It snuck in at #25.
The ST Top 25 Nasdaq 100 Momentum Meter rose 2.18% for Week #42 while the full Nasdaq 100 gained 1.08%. The 1.10% differential suggests the top stocks performed better by a hair.
Small-Cap Russell 2000
The ST Top 25 Russell 2000 was a mixed bag this week. Lots of red and green.
$PRTS and $HOME both closed up 13% respectively. 💪
Twist Bioscience gained 6% and partnered with Neogene Therapeutics. It’s a Winner below.
$VXRT was the biggest loser and is on the Sinners list below. It fell 16.67%.
The ST Top 25 R2K Momentum Meter fell 0.83% while the Russell 2000 index closed down 0.23%. The 0.50% differential suggests that the top stocks outperformed in line with the full index.
ST Top 25 TOP DAWG OF THE WEEK 🐶
The ST Top 25 Top Dawg for Week 42, 2020 is Zoom Video Communications.
$ZM blasted another 13.5% higher this week and extended its lead to 265% ahead of $TSLA. Is it too early to crown it the champ of 2020?? The stock trades at all-time highs once again…
Zoom hosted its annual Zoomtopia conference on Wednesday and Thursday. The company rolled out new features including end-to-end encryption (E2EE) which helps ease the privacy worries. Only message senders and recipients can access transmitted data with E2EE, law enforcement and Zoom itself won’t be able to access the data.
$ZM also introduced “OnZoom”, a platform for users to design and host paid, free, and fundraising events. Immersive Scenes was the other feature released. Hosts are able to set custom backgrounds for meetings. Zoom leverages AI to better enable communication between participants.
$ZM is now up 721.5% YTD. Quite the year.
The Winners 📈
△ #18 R2K – Twist Bioscience marched 6% this week. The biotech closed at its fourth consecutive new weekly-high and improved 6 spots on the ST Top 25 R2K List
On Tuesday, Twist Bioscience announced that it partnered with Neogene Therapeutics. The companies are partnering to leverage Neogene’s skill in attacking tumor neoantigens, mutated proteins found in cancer cells, with Twist’s DNA synthesis platform and product lines to produce chimeric antigen receptor (CAR) T cell therapies and T cell receptor (TCR) therapies for patients with cancer.
Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience had this to say:
Engineered T cell therapies have demonstrated benefit to patients with difficult-to-treat cancers. We are delighted to partner with Neogene, a company pioneering fully personalized T cell therapies for solid tumors. Putting our platforms together, we believe we will be able to expedite the identification and genetic engineering of TCR genes to create personalized T cell therapies for cancer, bringing new hope to address the current limitations of treatments available today.
Here’s the weekly chart dating back to its 2018 IPO. It’s up 578% in that time.
△ #6 S&P 500 – FedEx Corp. delivered nearly 36 million packages this week. The transport company also closed the week up 4.5% and jumped from #10 to #6 on the ST Top 25 S&P 500 List.
$FDX closed higher 15 out of the last 16 weeks. 🤯 It’s up 118% in that time vs. the $SPX +16%. You could say it’s trending.
Fedex Corp. is up 88.5% YTD.
△ #25 N100 – Autodesk, Inc. turned up this week and rose 9.5%. $ADSK was the ST Top 25 N100’s only Freshman in Week 42. It’s ranked #25.
On Tuesday, Autodesk announced the international expansion of BuildingConnected, a construction management solution that smoothes the bidding process and embraces the Autodesk Construction Cloud builders network, a crowdsourced network of construction professionals. Owners and general contractors utilize BuildingConnected to find trade partners and identify proper subcontractors. With its expansion, the BuildingConnected solution is now accessible in the United Kingdom, Ireland, Australia and New Zealand.
Jim Lynch, vice president and general manager of Autodesk Construction Solutions had this to comment:
There are more than one million construction professionals on the BuildingConnected network in North America alone, with over 2,000 general contractors and owners actively bidding out projects – totaling $56 billion in project values each month. BuildingConnected effectively replaces an antiquated approach that has relied on Rolodexes and spreadsheets, and ensures the right teams are in place for every kind of construction project, whether a commercial building, data center, medical facility or infrastructure project. As BuildingConnected further expands internationally, we want to empower construction firms around the world with the resources they need to increase productivity and decrease project risk.
△ #19 S&P 500 – IDEXX Laboratories, Inc let the momentum carry it once again. The medical stock was the ST Top 25 S&P 500 List’s biggest mover as it improved from #24 to #19.
Annual growth estimates were revised higher recently. Analysts expect earnings growth of 15% for the quarter, and 13% growth for the full year. $IDXX is set to report its quarterly earnings on Oct. 29.
$IDXX is up 62% YTD.
The Sinners 📉
▼ #9 R2K – Workhorse Group, Inc. was the biggest loser on the ST Top 25 R2K list, down 15%.
On Friday, Workhorse closed the previously announced $200 million financing with Antara Capital GP LLC as lead investor. The notes are convertible into common stock by the holders at $35.29/share, mature in four years and bear interest at a rate of 4.0% per year.
Workhorse CEO Duane Hughes said:
We are excited to close this transaction with our financial partners led by Antara Capital. The funds will allow an acceleration of production, an advancement of new products directly for the last-mile delivery market and an expansion of our drone operations. We appreciate our financial partners’ faith in us and their support in further solidifying our leadership and reach in the last-mile delivery segment.
$WKHS is up 650% YTD.
▼ #2 R2K – Vaxart, Inc is the other sinner belonging to the ST Top 25 R2K List. The biotech fell 16.6% but still sits tight in 2nd place on the ST Top 25 R2K List. It trails $NVAX by over 700%.
$VXRT has tumbled steadily since making a 3-year high in mid-July. It now trades 64% off that high. Can the stock pull itself out of the gutter and stop the bleeding? Place your bets…
$VXRT is up 1,674% YTD.