This week, which stocks led? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.
Below are the top 25 US stock gainers with market cap above $5 billion for the week ended Oct. 25:
Trump Media & Technology Stock Spikes 32% on Bets Trump Will Win US Election
Trump Media stock gained 32% this week on shifts in perception about Donald Trump's chances of winning the 2024 presidential election.
On Sept. 23, Trump was down by three points on PolyMarket and 11 points on PredictIt, but that’s fully reversed and he’s now up by 31 points on PolyMarket and 15 points on PredictIt.
“It seems that Trump’s political prospects have gotten a bit better over the past several weeks,” says NYU law professor Michael Ohlrogge. “I think a lot of people are therefore thinking that makes the stock more valuable.”
ZEEKR Launches New Model Mix in Latest Foray into Uncharted Waters
Zeekr shares surged nearly 30% this week. Zeekr launched its new model, the Zeekr Mix, on October 23, another foray into uncharted waters for the Geely Holding Group's premium electric vehicle (EV) subsidiary after its first model, the Zeekr 001 shooting brake.
The company refers to the Zeekr Mix as a family-oriented five-seater, rather than explicitly defining it as an SUV (sport utility vehicle) or MPV (multi-purpose vehicle), unlike industry practice.
The starting price for the variant with a 76-kWh lithium iron phosphate (LFP) battery pack is RMB 279,900 ($39,280), while the other long-range version with a nickel-cobalt-manganese (NCM) ternary battery pack with a capacity of 102 kWh starts at RMB 299,900.
Tesla Motors Shares Leap After Elon Musk Predicts Sales Rebound
Tesla’s shares rose 22% this week after the world’s largest electric vehicle maker reported higher than expected quarterly profit while forecasting “slight growth” in deliveries this year and a big jump in 2025.
Musk on Wednesday afternoon predicted vehicle sales could increase 20 per cent to 30 per cent next year after cost cuts reduce the prices of existing cars which in turn would spur demand.
He also cited improvements to the self-driving technology and new products, including its autonomous “Cybercab” unveiled earlier this month. Musk also said lower interest rates were reducing monthly financing payments and that was having a meaningful impact on demand.
Qualcomm Announces Partnerships with Li Auto, Mercedes-Benz
Li Auto rose 14% this week. The strength in Li Auto comes as reports indicate that both China and the European Union (EU) are seeking alternatives to the EU’s proposed tariffs on Chinese EVs. Despite broader economic challenges in China, Li Auto's stock has also risen in anticipation of additional economic stimulus measures, as Beijing considers EVs critical to the economy’s growth.
Li Auto's newly announced collaboration with Qualcomm (QCOM) to integrate advanced automotive chips highlights its commitment to technological advancement and future-ready vehicles. However, it’s worth pointing out that Li’s earnings have been under pressure due to its increased investments in technology and expansion, impacting profit margins.
The company's recent financial performance is encouraging, with a significant year-over-year increase in vehicle deliveries contributing to robust revenue growth. That said, Li’s valuation metrics suggest it is trading at a premium compared to its industry peers, which indicates heightened expectations for its future performance.
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