Shares of Baidu (BIDU), Marathon Patent Group (MARA), Riot Blockchain (RIOT) were among top moving stocks on the day. For some stocks, the major influence came from Bitcoin prices among other factors.
Baidu shares moved 15.26% in Friday’s trading session with its opening price at $277.10 to close at $240.25 It was reported that Baidu has struck a deal to create a standalone electric vehicle company in partnership with Geely, a leading Chinese car-maker. Geely would handle manufacturing, while Baidu would design and fit the electronics.
Marathon Patent Group (MARA)
MARA stock has swung wildly this year and is perhaps one of the stocks benefitting from the gains of bitcoin, leading to higher margins and stronger returns. On Friday’s tarding, it grew 18.02% from its starting price set at $25.06 to close at $26.39. Its previous day’s closing was $22.36. As the company builds out its inventory of specialized computer hardware equipment, expect the stock to keep soaring.
Riot Blockchain (RIOT)
The shares experienced unusual options activity on Friday with its stock price moving up to $26.79 following the option alert. It began trading at $24.74 after a a previous day’s closing at $22.72
Like Mara, Riot Blockchain can be said to be another bitcoin mining equities most likely to reach midcap status this year.
Resonant Inc. (RESN)
Although shares of Resonant traded with normal range, it made an upward movement of about 28.30% with its starting price at $4.00 to close at $4.77 on the day. The stocks previous day closing was $3.91.
The leader in transforming the way radio frequency, or RF, front-ends are being designed and delivered for mobile handsets and wireless devices is set to release earnings on 3/9/2021. During their last earnings release the company posted EPS of $-0.67.
It was a downward movement for shares of QS on the day as it dropped 8% from its opening price at $64.52 and closed at $56.79. It had previously closed Thursday at $62 The electric car battery developer had no company news nor major influencer to push the price upward hence closed the week on the downside.