As October has ended, it is time to look back on another month of trading, which was positive for European and American equities. The EURO STOXX 50 posted gains of 5.00%, and the S&P 500 closed at an all-time high on October 29th, seeing a 6.91% increase, its biggest monthly gain so far this year.
In this article, we discuss the companies that made an appearance on the map for the first time and share October’s biggest winner and loser.
Newcomers on the map
Two companies made their map debut in October, being traded the most for the first time. While not a newcomer, there is also a third new name on our map. In case you missed it, Facebook Inc changed its name to Meta Platforms Inc on October 28th.
Below is a brief introduction of the two new stocks on our map:
Progenity is a California-based biotech company engaged in developing molecular testing in the fields of women’s health, gastrointestinal health and oral biotherapeutics. It is a small-cap company and is also heavily shorted. According to The Motley Fool, the stock has recently been favourited by retail investors looking for a short squeeze. At the time of writing, Progenity is at the top of Fintel’s Short Squeeze Leaderboard, which ranks companies that have the highest likelihood of experiencing a short squeeze based on their quantitative model.
Progenity went public in June 2020, with an IPO price of $15 per share. Since then, stock prices have been volatile, dropping as low as $0.66 in August 2021. Last month, prices soared, increasing by 136.84%.
Thryv Holdings Inc
Thryv is a global software and marketing services company based in Texas that provides its services to small-to-medium-sized businesses. Similar to Progenity, it is also a small-cap company. Thryv operates in three segments: Software as a Service (SaaS), Marketing Services and Thryv International.
In October, stock prices ended in the green, increasing by 5.43%.
The companies that saw the biggest price movements during October were Progenity and company AMC Entertainment. On the positive end was Progenity, with its 136.84%% price increase. AMC was on the losing end, with prices dropping by 7.07%.
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The information in this article is not written for advisory purposes, nor does it intend to recommend any investments. Please be aware that facts may have changed since the article was originally written. Investing involves risks. You can lose (a part of) your deposit. We advise you to only invest in financial products that match your knowledge and experience.
Sources: Bloomberg, Yahoo! Finance, Motley Fool, Reuters, The Street, New York Times, Progenity, Thryv