This week, which stocks lagged or dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.
Below are top 10 stock gainers with market cap above $1 billion for the week ended Jan. 3:
EV Maker Rivian Beats Expectations for Deliveries as Supply Snag Eases
Rivian stock jumped 20.8% this week. Rivian surpassed analysts' expectations for fourth-quarter deliveries on Friday and said its production was no longer constrained by a component shortage, a positive sign for the electric vehicle maker aiming to turn its first profit.
Rivian handed over 14,183 vehicles in the three months ended Dec. 31, compared with estimates of 13,472, according to 15 analysts polled by Visible Alpha.
That was a 42% jump from the previous quarter and marked Rivian's highest deliveries in more than a year, even though Amazon.com AMZN.O, its biggest backer, takes fewer deliveries in the fourth quarter due to its focus on holiday season sales. Rivian produced 12,727 vehicles in the quarter, compared with estimates of 11,398 units.
MINISO Stock Soars 14% on Strong Financials and Booming ACG Goods Strategy
MINISO Group Holding Limited saw its stock surge 14.55% this week, following the company's positive financial performance and successful strategy in tapping into the booming ACG (animation, comics, games) goods market.
MINISO has demonstrated robust financials, with a remarkably high return on equity (ROE) of 28% and an impressive 70% earnings growth over the past five years, outperforming the industry average. This strong performance is a testament to the company's efficient management of shareholders' capital and its ability to generate consistent profits.
Another key factor driving MINISO's growth is its strategic focus on the ACG goods economy, which has emerged as a significant trend driven by the rise of interest-driven consumption, particularly among younger generations. MINISO has partnered with over 150 renowned IPs, including popular franchises like "One Piece" and the recently acclaimed game "Black Myth: Wukong," to offer a diverse range of ACG merchandise that resonates with fans' interests and passions.
Riot Platforms, CleanSpark Shares Surge as Crypto Market Rally Fuels Optimism
Riot Platforms, CleanSpark shares surged 12.8%, 10.3% respectively this week. This surge can be attributed to the broader rally in the cryptocurrency market and renewed optimism for the sector.
As the new year kicked off, leading cryptocurrencies like Bitcoin and Ethereum witnessed a bullish rally, with traders anticipating a "golden crypto era" under the incoming Donald Trump administration. Bitcoin surged close to $100,000, while Ethereum approached $3,500, fueling optimism among investors.
Furthermore, crypto-dependent stocks such as Canaan Inc. (CAN), Bit Digital (BTBT), Coinbase (COIN), and MicroStrategy (MSTR) also saw significant gains, reflecting the positive sentiment surrounding the crypto industry. This broader market enthusiasm appears to have spilled over to CleanSpark, driving its stock price higher this week.
ARM Holdings Soars 9% as Microsoft's $80B AI Spend Spurs Growth Optimism
Shares of ARM Holdings, a leading semiconductor design company, soared 9% this week, as the company was caught in a wave of optimism surrounding the growth prospects of the artificial intelligence (AI) industry.
The rally in ARM's stock price was likely fueled by a blog post from Microsoft's Vice President Brad Smith, who disclosed that the tech giant plans to invest $80 billion in building AI data centers in the current fiscal year ending in June. This massive spending plan signaled Microsoft's unwavering commitment to the AI sector and its belief in the transformative potential of the technology.
As a key player in the AI semiconductor ecosystem, ARM stands to benefit significantly from the surging demand for chips powering AI applications and data centers. The company's low-power chip architecture is increasingly being adopted in AI-focused chips designed by major cloud providers and chipmakers like NVIDIA, further solidifying ARM's position in this lucrative market.
