Ten stocks finished the trading week standing stronger, booking mid-double-digit gains week-on-week, as company-specific developments were promising enough to spark high rallies.
On Wall Street, only the tech-heavy Nasdaq and the S&P 500 finished in the green, clocking 1.5 percent and 0.60 percent gains, respectively. In contrast, the Dow Jones dipped by 0.07 percent.
In this list, we name this week’s 10 biggest players and break down the reasons behind their gains.
To compile the list, we focused exclusively on stocks with at least $2 billion in market capitalization and over 5 million shares in trading volume.
10. SharpLink Gaming, Inc. (NASDAQ:SBET)
SharpLink Gaming capped off the trading week, boasting a 33.86-percent gain to close at $28.98 versus the $21.65 close on July 11, as investors cheered its new leadership position in the cryptocurrency industry.
This came after announcements on Wednesday that it is now the largest holder of Ethereum cryptocurrencies globally following the acquisition of 74,656 ETH last week, pushing its total ownership to 280,706. The assets were acquired between July 7 and 13 at a weighted average price of $2,852 each.
Investors snapped up shares following the news, propelling its stock price by 80.51 percent during the week alone.
The transaction also coincided with SharpLink Gaming, Inc.’s (NASDAQ:SBET) successful raising of $413 million through the issuance of more than 24 million shares At-The-Market between July 7 and 11.
As of July 13, SharpLink Gaming, Inc. (NASDAQ:SBET) said approximately $257 million of the total proceeds have yet to be spent on ETH purchases.
9. NuScale Power Corporation (NYSE:SMR)
NuScale Power saw its share prices surge by 34.07 percent week-on-week, ending Friday’s trading at $50.25 versus the $37.48 last Friday, as investors turned optimistic about a research study that projected the fuel cell market to expand by more than 21 percent annually through 2029.
The highest rally was notable on Friday following BCC Research’s release of the Global Fuel Cell Generator Market study that said the sector was projected to increase to $3.1 billion by 2029 from $1.4 billion in 2024, at a compound annual growth rate (CAGR) of 21.2 percent.
“Fuel cell generators provide a steady and dependable power source, especially during grid outages, making them a smart choice for backup or even main power,” it said.
Additionally, investors positioned portfolios ahead of the release of NuScale Power Corporation’s (NYSE:SMR) release of its second quarter earnings performance on August 8.
Investors will be closely watching for cues of deals with companies following President Donald Trump’s signing of an executive order in May which would support a government target to quadruple the US nuclear power industry by 2050.
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