5 of Last Week's Biggest Winners
What's better than momentum? Mo' momentum. Let's take a closer look at five of this past week's biggest scorchers.
Eagle Rock Energy
Let's start with Kandi Technologies Group. The Chinese maker of electric vehicles and ATVs took off after some encouraging words by its CEO. He sees electric vehicles potentially surpassing the company's bread-and-butter go-kart business as Kandi's biggest sector. Kandi is expected to deliver 2,800 electric cars during the fourth quarter.
Inovio Pharmaceuticals soared as buzz continues to build for the synthetic vaccine maker's INO-5150 and INO-1800 pre-clinical drugs that aim to tackle prostate and liver cancers, respectively. A hedge fund also recently disclosed a stake in Inovio.
Ambarella continued its rally that kicked off earlier this month, when the maker of high-def video chips announced a partnership with Google to develop a wearable camera that will be unveiled during next month's Consumer Electronics Show. Ambarella's chips are already in Dropcam and GoPro products, but this could be potentially even bigger if it takes off with the online search giant's promotional muscle.
Eagle Rock Energy moved higher after selling its natural gas business in a $1.3 billion deal that will help it focus on its hydrocarbons production. The asset sale inspired Raymond James and Wells Fargo to upgrade the Eagle Rock.
Finally we have Tower Group. The insurer shed nearly a third of its value a week earlier after a reserve shortfall that would force it to add as much as $105 million to its reserves. It bounced back this past week, though naturally an 11% weekly pop after a 30% drop the prior week is still a steep two-week slide.
Keep the good vibes coming
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The article 5 of Last Week's Biggest Winners originally appeared on Fool.com.Longtime Fool contributor Rick Munarriz owns shares of Ambarella. The Motley Fool recommends Ambarella, Google, and Wells Fargo and owns shares of Google and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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