The stock market fell heavily into the red territory on Friday as investors sold off positions to mitigate risks from a series of macroeconomic factors.
The Dow Jones declined by 1.69 percent, the S&P dropped by 1.71 percent, and the tech-heavy Nasdaq nosedived by 2.20 percent.
Despite the broader market downturn, ten companies gained momentum, recording price growths on a week-on-week basis.
In this article, we have listed 10 companies that performed well last week. Note that shares performances were based on closing prices last Friday, February 21, as against their prices on February 14, or a week earlier.
To come up with last week’s advancers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. The Goodyear Tire & Rubber Company (NASDAQ:GT)
The Goodyear saw its share prices grow by 4.17 percent week-on-week to end at $9.98 apiece as investors cheered news of an impressive earnings performance last year.
On February 13, GT reported a sharp rebound in its net income performance for the fourth quarter and full year 2024, with adjusted net profit in the quarter ending at $76 million, a significant turnaround from the $291 million net loss in the same period a year earlier.
Meanwhile, GT swung to a net profit of $70 million, a turnaround from a $689 million net loss in 2023.
Looking at the data, GT’s stock price began to jump following the release all through February 19, before investors took profits until Friday.
9. XPeng Inc. (NYSE:XPEV)
XPeng saw a 10.4-percent jump in its share prices week-on-week, finishing at $18.4 apiece on Friday versus the $16.66 registered on February 14, as share prices traded in line with its Chinese counterparts thanks to the boom in China’s AI and electric vehicles industries.
In recent news, XPEV CEO He Xiaopeng announced that the company plans to double down on expansion plans to penetrate more countries by the end of the year.
“We are going to accelerate from the 30 countries and regions where we were present in 2024. This year, we will increase to 60 and will have established more than 300 after-sales service points worldwide,” he said.
Over the next 10 years, he said that the international markets are expected to power its sales.
The ambitious plan comes amid the European Union’s move to impose a 35.30-percent higher tariff on China-made electric cars, saying Beijing was unfairly undercutting European automakers.
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