Last week saw Bitcoin’s market value soar to record highs, sending investors bullish on stocks of crypto companies. As earnings season wraps up, there’s also plenty of fresh intel into which companies have been performing well—and those who haven’t.
Wondering what this means for your portfolio? Read on to find out the best-performing stocks from last week.Riot Blockchain
Riot Blockchain (RIOT), the Colorado-based company that focuses on Bitcoin mining and aims to be one of the largest and lowest-cost producers of bitcoin in North America. Due to increased bitcoin traffic last week, the company’s stock has soared by 65.54%.Canaan
Blockchain company Canaan (CAN)’s stocks rose over 132.77% this last week, thanks to Bitcoin’s meteoric market value rise to $1 trillion.
The bitcoin machine maker recently received an order for 100,000 mining machines for its North American customer base. CEO Nangeng Zhang says the increase in sales comes from an increased demand from publicly traded companies and crypto investment funds.Wix.com
Israeli-based software company Wix.com (WIX) has seen its stocks increase by 19.36% during earning season.
Reports show that although the company, which allows users to create HTML5 websites and mobile sites, suffered a fourth-quarter loss, it beat estimated revenue. It has since seen an increase in interest from investors.Gores Holdings VI
Gores Holidings VI, a special purpose acquisition company, recently announced its merger with spatial data company, Matterport. Gores’ stock increased by 47.26% last week, due to this recent agreement that will result in Matterport becoming a publicly listed company.
Media coverage from CNBC analyst Josh Brown last week also contributed to increased interest from investors.Churchill Capital IV
One of the most hyped up SPAC deals of recent times sent stock of Churchill Capital IV soaring 68.06% last week. Rumours say this Tuesday the company prepares to announce a deal acquiring electric vehicle company Lucid Motors, sending the company public.
If the deal goes through, valuation would be $15 billion for the electric vehicle company, up from $12 billion reported last week.Cloud Nine Education Group
Another crypto company to keep your eye on this week is Cloud Nine Education Group Ltd (CNI).
Shares rose 4.7% last week of the tech company, who recently made a deal to acquire cutting-edge crypto assets. The C$6 million deal, made through incubator Victory Square Technologies, is an exciting step forward for the Vancouver-based company.QuantumScape
A recent breakthrough in charging technology for electric vehicles has been good news for investors of battery maker QuantumScape. Shares were up more than 38.46% after the company disclosed that a new breakthrough that could impact electric vehicle battery range and re-charging speeds.
In additono to news that George Soros has taken a $4.6 billion stake in the company, investors are bullish on QuantumScape.Up Fintech Holding
Up Fintech Holding aka Tiger Brokers (TIGR) was up 26.60% last week. The Chinese version of Robinhood saw its competitor’s CEO, Vlad Tenev, under fire from lawmakers in a GameStop hearing, sparking investors to look for worthwhile alternatives.
Also giving the company’s stocks a boost is the recent news that China is taking regulatory steps to make it easier for Chinese citizens to invest in companies abroad.
Market Buzz contributor Shelley Mason has no position in any of the stocks mentioned.