10 Most Viewed Symbols On Stocktwits Last Week-Amid-Market-Rebound
By Stocktwits Inc | First Published Nov 25, 2024, 2:31 PM ISTThe US market rebounded in the week ended Nov. 22, with small-caps outperforming their larger peers.
The U.S. market returned to its winning ways in the week ended Nov. 22 as the S&P 500 Index posted a weekly gain. The broader market gauge, however, did not pick up enough momentum to retest its previous closing high of 6,001.35.
The week’s gains were broad-based, with small-caps outperforming their bigger counterparts. The post-election rally seen among cryptocurrencies continued, with Bitcoin ($BTC.X) getting tantalizingly close to the $100,000 mark.
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Looking ahead, traders remain wary about the implications of the incoming administration under President-elect Donald Trump.
Against the backdrop, the following tickers were the most viewed on the Stocktwits platform:
Nvidia Corp. ($NVDA)
Artificial intelligence stalwart Nvidia shares ended the week flattish with a slight negative bias after the company reported a third-quarter beat but issued a lukewarm guidance.
Wall Street analysts are largely upbeat, nudging up their price targets for the stock, premised on strong Blackwell AI accelerator production ramp-up and demand through the calendar year 2025.
Bitcoin
Riding on hopes that Trump’s policies will be crypto-friendly, Bitcoin and its ilk continued to head northward. While SEC Chair Gary Gensler - a crypto hawk, said he would step down on inauguration day, a Bloomberg report said Trump’s transition team is in discussions with the digital asset industry about creating a new White House post dedicated to cryptocurrency policies.
Bitcoin rose as high as $99,655.50 on Friday before pulling back from the level.
Most retailers on the Stocktwits are gearing up for Bitcoin breaching $100,000 this week.
Super Micro Computer, Inc. ($SMCI)
AI server manufacturer Super Micro continued to be on retailers’ radar this week as the company succeeded in appointing a new auditor and submitted to the SEC a compliance plan to avoid any potential delisting.
Super Micro also received a shot in the arm from Nvidia’s Jensen Huang mentioning the company as one of its "great partners."
The stock ended the week up over 78%, settling at its highest level in about a month.
Stocktwits users are generally bullish on the stock despite the headwinds. A user shared a technical chart and said the stock could hit $40 this week or in the next.
XRP (XRP.X)
XRP is the native token of enterprise software company Ripple’s open-sourced “Ripple Protocol." This protocol includes the Ripple Consensus Ledger, and Ripple Net, suite of payment solutions.
After closing above the $1 mark on Nov. 16 amid the frenzy set in motion by Trump’s victory, XPR has quickly run up past the $1.50 level. XRP is now the sixth biggest crypto in terms of market capitalization.
Prominent crypto analyst Ali Martinez said in a X post that whales bought over 50 million XRP over the weekend.
MicroStrategy, Inc. ($MSTR)
Michael Saylor’s MicroStrategy, which is in the spotlight due to its swelling Bitcoin treasury holdings, has seen its share outperform the crypto rally. The stock rallied nearly 24% for the week ended Nov. 22, ending at $421.88, off the record high of $473.83 hit on Wednesday.
Fund manager Gary Black said the stock price does not make any sense for him.
Stocktwits users are mixed on the stock. While one user called out the stock as a "pyramid scheme," another sees it bouncing back and hitting $500.
https://stocktwits.com/OnTrader1/message/593933077
Dogecoin (DOGE.X)
Meme crypto Dogecoin has also been on a tear, along with the rest of the cryptos, drawing strength from Trump’s victory and Tesla CEO Elon Musk’s stray references to ‘DOGE,’ albeit not in relation to the dog-themed crypto per se.
DOGE is trading off its Saturday’s intraday high of $0.477460.
Stellar (XLM.X)
Stellar’s native token XLM.X has jumped over 166% since Sunday, Nov. 17. At last check, the crypto traded at $0.52292.
Palantir Technologies, Inc. ($PLTR)
Palantir is widely seen as a catchup AI play, with its AIP platform making waves among enterprise and government customers. As recently as Sunday, Wedbush analyst Daniel Ives raised the price target for the stock from $57 to $75, premised on expected unprecedented demand as more enterprises realize the value of the company’s entire product suite with more AI use cases.
Stocktwits users are 'bullish' on Palantir even after the strong year-to-gains (+275%).
Tesla, Inc. ($TSLA)
Tesla shares jumped nearly 10% last week amid increasing optimism that the incoming Trump administration will prove to be positive. Fund manager Black, however, is wary of further upside.
Retail is "neutral" toward the stock.
SPDR S&P 500 ETF Trust ($SPY)
SPY, an exchange-traded fund that tracks the S&P 500 gauge, has attracted ‘bullish’ sentiment among retailers.
As a solid year draws to a close, Wall Street analysts have given bullish estimates for the S&P 500 Index for the upcoming year. Last week, BMO Capital Markets set a year-end 2025 price target of 6,700 for the index, Wells Fargo increased its target from 6,200-6.400 to 6,500-6,700, and Goldman has a more optimistic target of 7,200-7,400.
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