What's better than momentum? Mo' momentum. Let's take a closer look at five of this past week's biggest scorchers.
|
Company |
March 7 |
Weekly Gain |
|---|---|---|
|
Plug Power (PLUG 2.41%) |
$8.27 |
77% |
|
MeetMe (MEET) |
$3.78 |
42% |
|
Gogo (GOGO -2.34%) |
$24.80 |
19% |
|
J.C. Penney (JCPN.Q) |
$8.68 |
19% |
|
Kandi (KNDI -0.79%) |
$19.40 |
16% |
Source: Barron's.
Let's start with Plug Power. The fuel-cell specialist rallied after expanding a deal for hydrogen fuel cell charging stations with the world's largest retailer that will triple its presence in the chain's distribution centers. Fuel cells are becoming a popular choice for alternative energy solutions. Plug Power's news validated the niche, sending fuel-cell players higher.
MeetMe soared after announcing a few upcoming conference engagements. The social discovery player that was birthed when QuePasa merged with myYearbook a couple of years ago will be presenting at the 26th Annual ROTH Conference this Tuesday afternoon, followed the net day by a stint at the Northland Capital Markets 2014 Growth Conference. An executive also spoke at South by Southwest on Friday. Conference presentations rarely move stocks this much, but it's always a great way for some of the market's more obscure companies to get noticed.
Gogo moved higher after the provider of Wi-Fi solutions for commercial airlines demoed its in-flight phone platform. Gogo also had a presentation at Morgan Stanley's Technology, Media, & Telecom Conference on Wednesday afternoon.
J.C. Penney continued to rally after posting stronger-than-expected quarterly results a week earlier. The struggling department store chain still has a long way to go, but the market was heartened by the retailer's positive comps during the highly contested holiday shopping season. Yes, the comps likely would have been negative if the company hadn't lumped online sales into the same-store-sales mix, but investors are starting to see some level of stability.
Kandi shares popped 25% a week earlier after the Chinese maker of electric vehicles announced plans to introduce its now profitable electric car-rental service in Beijing and Shanghai. The stock kept rallying after investor enthusiasm for electric-car stocks intensified. A bullish ProfitableTrading.com article being disseminated through Yahoo! Finance earlier in the week, suggesting that Kandi has 30% more in upside, didn't hurt.
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