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May 29, 2023
Bright Health Group Inc., Marvell Technology Group Ltd, Pinduoduo made Friday's list of top gainers.
Markets had an interesting day Friday; Nasdaq closed the day at 12,976, having gained 2.19%. S&P 500 gained 1.3% and closed at 4,205.45.
Here are the biggest stocks gainers from Friday.
+19%: solid session for Pinduoduo generates 19% gain Friday
The Chinese based e-commerce platform operator rose as high as $71.5 before giving up its gains and dropping back to $71.42 before the close on Friday. Currently, the Chinese e-commerce platform operator has a market capitalization of $94.89 billion with an average daily volume of 8.89 million shares.
Marvell Technology Group | Up 32.42% to $65.51 Friday
The integrated circuits developer topped out at $65.75 having ended Friday at $65.51. However, despite early momentum, the stock gave up its gains to now trade at $65.51.
Marvell released its quarterly earnings report Thursday, beating analysts estimates. The company reported earnings of 0.37 per share on revenue of $1.32 billion, topping estimates of 0.29 per share on revenue of $1.30 billion. Since the release of its earnings report, Marvell gained 42.47%.
+17.9%: RingCentral bulls in charge as markets close for Memorial Day
Ending Thursday at $29.5, the cloud-based comms company rallied 17.9% Friday and stayed at the $34.78 level. RingCentral is currently trading with a market cap of $3.33 billion with an average daily volume of 2.79 million shares. So far this year, it has been under-performing the Nasdaq by 19.71%.
Bright Health | Closed +45.85% at $11.77
Approximately 7 days ago, the US health insurance company reached a significant high of $15.1 but has struggled to hold onto its gains and declined 46.56% since then. The Nasdaq has been doing worse in 2022, it has been passing it by 337%. Bright Health's market cap currently stands at $93.59 million with an average daily trading volume of 7.65 million shares. Bright Health is forecasted to generate revenues of $772.51 million and EPS of -18 cents.
