Each week Forcerank runs a variety of games covering different industries. What we have found, is that the highest ranked companies in their respective games deliver the biggest positive price movement for that week. This week the winners include popular names like GoPro Inc (NASDAQ:GPRO) and Apple Inc. (NASDAQ:AAPL) and some lesser known ones such as Gilead Sciences, Inc. (NASDAQ:GILD).
GoPro was one of the most battered stock last week, losing nearly 12% in value through Friday’s close. The stock has partially recovered to start the week and sits atop the most heavily shorted game. Shares were up over 3.25% in trading Monday with the hopes of reconciling losses as the week progresses. GoPro has its own event next Monday that is expected to feature the Hero 5 seen side by side with the Karma drone. If these two products are successful in spurring growth then sky’s the limit for this stock. The short term 50 day moving average just recently crossed the 200 day average in a bullish manner, often referred to as a golden cross and sign of upcoming fortunes.
Apple stock stumbled last week after the debut of the highly anticipated iPhone 7 failed to impress investors. The stock was down 4.25% but didn’t take long to bounce back. In Monday trading the stock is up 2.25% and more than half of the way to reconciling last week’s losses. Apple made additional headlines when it was rumored that it’s super secretive self driving car project hit its first roadblock. Apple laid off a dozen of employees last week who were working on its Project Titan car initiative. The company is now retooling its strategy with a reboot expected down the road. By any estimation the stock is still oversold which could spark a string of buying this week.
Gilead Sciences, Inc.
Gilead Sciences has been one of the least popular biotech giants over the past year. In the past 12 months the stock has declined 29% as its flagship products continue to lose market share. Merck’s newer and cheaper hepatitis C drug has been one of the main reasons for Gilead’s decline. However, Gilead may have received the boost it needed when Jeffreys upgraded the stock to a buy and German bank, Berenger, initiated coverage on the company with a buy. Analyst recommendations are one of the fastest ways for a stock to dig itself out of a hole. Meanwhile the MACD recently signaled bullish movement with its crossover at the end of last week.