Shares of Marathon Patent Group (MARA), SunPower Corporation (SPWR), Tutor Perini Corporation (TPC) were among top moving stocks on the day. The Georgia Senate election result was a major drive for some stocks. We have highlighted the reasons for their movement to aid your investing decisions.
Marathon Patent Group (MARA)
Marathon Patent Group shares traded higher amid recent strength in Bitcoin prices and after the company completed a capital raise. The stock rose 23.43% on Tuesday and continues its upward rally at 24.80% in Wednesday’s session. Its opening price was a $14.58 to close at $16.69 on the trading day.
SunPower Corporation (SPWR)
Several stocks in the solar industry traded higher as investors watch the incoming Georgia Senate election results. A Democratic victory would be seen as favourable for renewable energy. It grew 20.17% with its starting price at $27.17 to close at $29.73. Elsewhere in the sector Sunrun and Enphase Energy each gained more than 11%, while Sunnova rallied 9%.
Tutor Perini Corporation (TPC)
Shares of Tutor Perini grew 18.70% in Wednesday’s trading to continue its upward movement from Tuesdays $13 closing. Tutor, one of the largest general contractor in the United States began Wednesday’s trading at $13.51 to close at $15.55.
Smith & Wesson Brands (SWBI)
Shares of firearm companies were trading higher as investors watched the incoming Georgia elections results. A Democratic victory could lead to concerns of stricter firearms regulations, which may drive an increase in gun buying. Firearms stocks also got a boost later in the session amid unrest in Washington DC.
SWBI shares grew 18.40% with its starting price as $19.51 to close at $22.52.
United States Steel Corp. (X)
The share grew 17.14% as stocks of several commercial companies traded on a high. Investors watched the Georgia Senate elections results with hopes, meanwhile a Democratic victory has raised the infrastructure optimism, which could lift demand outlook.
Its opening price was $18.74 to close at $21.32 on the trading day