Shares of Marathon Patent Group (MARA), Lemonade Inc (LMND), Plug Power Inc (PLUG) were among top moving stocks on the day. The confirmation of Joe Biden as US President as well as Georgia Democratic victories are some of the factors responsible for the movements in the market on Thursday.
Marathon Patent Group (MARA)
The stock has swung wildly this year following the positive momentum in bitcoin prices as several shares of companies in the broad technology space are trading higher amid market strength. Stocks gained for the session as the confirmation of Joe Biden as US President and Democratic victories in Georgia alleviate some gridlock concerns and raise stimulus optimism. Better-than expected jobless claims also helped lift the market sentiment. The stock gained 31% with movement from an opening price of $20.27 to close at $22.36 on the day.
Lemonade Inc (LMND)
Lemonade grew 27% as shares of financial service companies traded on a high amid rise in yields. It opened trading at $122.92 to close at $152.18. Motley Fool pitched the stock as its pick of the month after a similar recommendation in early December. The upward trend was also influenced by the confirmation of Joe Biden as US President and Democratic victories in Georgia which could help alleviate some gridlock concerns and raise stimulus optimism.
Plug Power Inc (PLUG)
Shares of Plug Power PLUG closed the day up 35% after announcing a $1.5 billion deal with South Korean industrial firm SK Group. The company plans to sell a 10% stake in itself to SK Group, which values new shares issued at $29.29 each; current investors saw their shares surge in value to $45.50 in trading this morning.
It had closed the previous day trading at $35 and began Thursday at $43.66 to close at $47.29.
Social Capital Hedosophia Holdings Corp. (IPOE)
The stock soared 57.92% after the company announced that it would merge with SoFi. Both companies are going to be publicly traded under the company’s ticker. Closed at $12.12 the previous day, opened the market at $12.20 to close trading at $19.14 on Thursday.
Smith & Wesson Brands (SWBI)
Shares of SWBI traded in the lower region as a result of selling off following Wednesday’s strength. Wednesday unrest at the US Capitol caused firearm and law enforcement stocks to surge. It dropped 6.64% after closing at $22.52 on the previous day, opened Thursday at $21.99 to close at 21.02