Written by Dreamer
Weekly Summary from June 24 to June 28, 2024:
- S&P 500: Started the week at 5,431.11 and closed at 5,464.62, up by 33.51 points or +0.62%.
- Dow 30: Started the week at 38,565.18 and closed at 39,150.33, up by 585.15 points or +1.52%.
- Nasdaq: Started the week at 17,697.30 and closed at 17,689.36, down by 7.94 points or –0.04%.
- Russell 2000: Started the week at 2,002.57 and closed at 2,022.03, up by 19.46 points or +0.97%.
This varied performance across major indices reflects differing investor sentiment across market segments.
Contents:
- Stock Trading Volume
- Average Number of Companies By Sector in a Week
- Average Market Cap By Sector in a Week
- Average Trading Volume By Sector in a Week
- Top 10 Growth Stocks
- Stock in Focus
Insights:
Stock Trading Volume:
| Date | Day | Daily Trading Volume |
|---|---|---|
| 24/6/2024 | Monday | 9,008,848,778 |
| 25/6/2024 | Tuesday | 8,350,020,186 |
| 26/6/2024 | Wednesday | 9,149,928,065 |
| 27/6/2024 | Thursday | 9,065,157,105 |
| 28/6/2024 | Friday | 8,457,992,042 |
Overall, the week started with high trading volume on Monday, saw a dip on Tuesday, recorded the highest trading volume on Wednesday, and then gradually decreased.
Average Number of Companies By Sector in a Week:
- Leader: Finance leads with 1,677 companies.
- Follow Closely: Health Care and Consumer Discretionary follow closely with 1,211 and 1,184 companies, respectively.
- Last in the List: Miscellaneous has the fewest with 60 companies.
The Finance, Health Care, and Consumer Discretionary sectors are the most populated, suggesting high level of importance in the market.
Average Market Cap By Sector in a Week:
- Leader: Technology is the leading sector, accounting for 34.3% of the total market cap.
- Follow Closely: Consumer Discretionary comes next with 18.2%.
- Last in the List: Basic Materials (0.8%) and Miscellaneous (0.1%) have the second smallest and smallest market caps, respectively.
The Technology sector holds a commanding lead in market capitalization, indicating its critical role in the market. Consumer Discretionary also has substantial market cap, reflecting its significant impact. In contrast, sectors like Basic Materials and Miscellaneous have minimal market presence.
Average Trading Volume By Sector in a Week:
- Leader: Consumer Discretionary sector leads with the highest average trading volume of 2,522 million shares.
- Follow Closely: Technology (1,990 million) and Health Care (1,842 million) also have high trading volumes.
- Last in the List: Miscellaneous (111 million) has the lowest trading volumes.
The Consumer Discretionary sector dominates in trading volume, highlighting its attractiveness to investors. Technology and Health Care also see substantial trading activity. In contrast, Miscellaneous has the lowest trading volumes, indicating less market interest.
Top 10 Growth Stocks:
Stock Trading Summary as of 28 June 2024
| Stock | Sector | Market Cap Category | Trading Volume @ 28/06/2024 | Closing Price @ 28/06/2024 |
|---|---|---|---|---|
| SHCRW | Health Care | Micro Cap | 11,237 | 0.0802 |
| RGS | Consumer Discretionary | Micro Cap | 286,402 | 23 |
| LSF | Consumer Staples | Micro Cap | 637,741 | 5.62 |
| MLGO | Technology | Micro Cap | 6,153,919 | 16.31 |
| MDIA | Consumer Discretionary | Micro Cap | 109,387 | 3.6 |
| ASTS | Consumer Discretionary | Mid Cap | 14,024,399 | 11.61 |
| BBLGW | Health Care | Micro Cap | 4 | 43.5 |
| BRFH | Consumer Staples | Micro Cap | 116,748 | 3.66 |
| ASNS | Telecommunications | Micro Cap | 71,474,782 | 2.31 |
| REBN | Consumer Discretionary | Micro Cap | 89,286 | 6.97 |
These are the top 10 growth stocks that have shown significant growth in recent months. Out of these 10 stocks, MLGO is selected for detailed analysis as shown below.
Stock in Focus:
Overview:
MicroAlgo Inc. (MLGO) develops and applies central processing algorithm solutions for various industries, including internet advertisement, gaming, and intelligent chip industries. The company operates globally, offering services through two segments: Central Processing Algorithm Services and Intelligent Chips and Services. Headquartered in the People’s Republic of China, Hong Kong, and internationally, MLGO focuses on algorithm services and intelligent chip applications.
Institutional Investment:
MLGO has minimal institutional investment, with only 0.14% of shares held by institutions. The majority ownership is by insiders, holding 60.63% of the company’s shares. The low percentage of institutional investment suggests limited confidence or visibility among large investment firms.
Financial:
- Market Cap: $124.196 million
- Profit Margin: -46.24%
- Recent Earnings (Most Recent 4 Quarters)
There is no detailed information provided on the earnings per share (EPS) or growth for the recent quarters. However, the company shows a negative profit margin and operating margin, indicating ongoing losses.
The chart:
In the last six months, there is a significant upward trend, with the stock price increasing by 91.88%. The closing price on 28 June 2024 was $16.31, down by 5.21% from the previous close.
Conclusion:
MLGO is a company specializing in central processing algorithms and intelligent chip services. Despite having a high insider ownership, the company is currently experiencing financial losses with negative profit and operating margins. The stock has shown strong growth over the past six months, reflecting a significant price increase. However, the low institutional investment may indicate a cautious approach from larger investors.
See more:
Yahoo Finance: MicroAlgo Inc. (MLGO)
