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May 30, 2023Bright Health Group Inc., Marvell Technology Group Ltd, Pinduoduo made Friday's list of top gainers.
Leading equity indices in the US rose as Nasdaq closed the day at 12,976, having gained 2.19%. S&P 500 ended the session at 4,205.45 after a 1.3% gain.
Here are the biggest stocks gainers from Friday.
Pinduoduo | Closed +19% at $71.42
The Chinese e-commerce platform operator closes its best day in 1 year, jumping by 19% ($11.4) to $71.42. Over the past 4 months, the Chinese e-commerce platform operator has retreated 42.66% from a noteworthy peak of $104.68. Pinduoduo's market cap is currently $94.89 billion with an average daily trading volume of 8.89 million shares.
Marvell | Up 32.42% to $65.51 Friday
The integrated circuits developer closed at $65.51 after it made its largest daily jump of $16.04 (32.42%) since December 2021. The integrated circuits design company reached a significant high of $65.51 around 4 days ago but has lost 24.48% since then. The Nasdaq has been doing worse in 2022, it has been passing it by 127.58%. The company is currently trading with a market cap of $56.28 billion with an average daily volume of 16.74 million shares.
Marvell Technology Group 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 Technology Group gained 42.47%.
Bright Health | Up 45.85% to $11.77 Friday
Pronounced bullish sentiment in the market helped the health insurance provider to make a notable 45.85% gain Friday, rising $3.7 and ultimately closing at $11.77.
