Weekly Winners|Coinbase Soared 27%; AMD Soared 10%; Enphase Energy Slumped 21%; First Solar Plunged 17%

Tiger Newspress
22 Jun

This week, which stocks lagged or dragged? Weekly Winners column keeps up with market trends, helping Tigers sort out the week's hottest sectors, stock winners and important news.

Below are top 10 S&P 500 stock gainers for the week ended June 20:

Coinbase’s Stock Soars 27% Amid Regulatory Wins

Coinbase Global has experienced a significant stock price increase of 27% over the past week, driven by two major developments. Firstly, the company became the first U.S.-based crypto exchange to receive a Markets in Crypto Assets (MiCA) license under the European Union’s new regulatory framework. This license, granted by Luxembourg’s financial regulator, allows Coinbase to offer its full range of crypto products across all 27 EU member states, marking a major expansion in one of the world’s largest economic regions.

Additionally, the U.S. Senate’s passage of the GENIUS Act, which establishes a regulatory framework for stablecoins, has further fueled investor optimism. This legislation is expected to drive significant growth in the stablecoin market, potentially increasing its value to over $2 trillion. As a co-founder of USDC, a major stablecoin, Coinbase stands to benefit greatly from this regulatory clarity, which could lead to increased trading activity and user engagement on its platform.

AMD Stock Soars 10% as Analyst Praises Next-Gen Server Rack Architecture

AMD stock jumped this week as investors remain optimistic about its upcoming artificial-intelligence chips and systems that were unveiled last week — perhaps more so than in the initial moment.

The chip maker introduced its Instinct MI350 series of AI accelerators at its annual Advancing AI event on Thursday.

Solar stocks plunge on Senate proposal to phase out tax credits by 2028

U.S. solar stocks tumbled on Tuesday after a Senate panel proposed phasing out solar and wind tax credits by 2028, as part of changes to President Donald Trump's sweeping tax-and-spending bill.

Solar inverter maker Enphase Energy and solar panel manufacturer First Solar slid 21% and 17%, respectively, this week.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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