What's better than momentum? Mo' momentum.

Let's take a closer look at five of this past week's biggest scorchers.


July 1

Weekly Gain

My Watchlist

Renren (NYSE: RENN)




ChinaCache (Nasdaq: CCIH)




LinkedIn (NYSE: LNKD)




Country Style Cooking (NYSE: CCSC)








Source: Barron's.

China's Renren finally caught a break. Shares of the social networking website have been pounded since hitting an intraday high of $24 in its May debut. Things got so bad that even last week's 48% pop wasn't enough to drag the shares out of the single digits.

The market's strongest weekly gain in more than two years will work wonders for high-beta stocks, and Renren certainly showed that on the way down. It also only helped that the week kicked off with Goldman Sachs upgrading a Web 2.0 peer in China.

I singled out ChinaCache as one of five broken IPOs worth buying three weeks ago. The provider of online services in China didn't take long to prove me right. There was no news out of ChinaCache -- a company that is best described as the Akamai (Nasdaq: AKAM) of China -- as it simply took flight with many of the other recent IPOs that had been pinned down given the market's bearish bent until two weeks ago.

Like clockwork, the four firms that helped take LinkedIn public several weeks ago chimed in with bullish ratings last week. It was expected. It was obvious. The only real amusing sidebar here is that LinkedIn's stock rose so high last week that it is now trading above the price targets of all four analysts.

Country Style Cooking was another of the names on my list of five broken IPOs that were attractive in mid-June. The quick-service restaurant chain is coming off a disappointing quarter in May and a subsidiary being bumped to a higher enterprise tax rate two weeks ago. The stock had shed more than two-thirds of its peak value, and the selling appears to have been overdone.

Shares of EMCORE rose every single day last week. A pair of websites issued upbeat reports on the provider of semiconductor-based components for the fiber optics and solar power markets. EMCORE also achieved Telcordia qualification status for the production release of its Tunable XFP transceiver.

It was a great week for these five stocks. Now let's see if they're up for an encore.

Which of these five stocks do you think will continue to move higher? Share your thoughts in the comment box below.

Motley Fool newsletter services have recommended buying shares of Country Style Cooking and Akamai Technologies. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.

Longtime Fool contributor Rick Munarriz enjoys cheering on winners and whispering words of encouragement to the losers. He does not own shares in any of the companies in this story, except for Country Style Cooking. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.