Between Joe Biden winning the US presidency, encouraging vaccine announcements and the start of the holiday (shopping) season, November was another interesting month for the financial markets.
The EURO STOXX 50 saw its highest close price since the March selloff on November 27 and ended the month up by 18.06%. US stocks also climbed. The S&P 500 closed at an all-time high on November 27 and saw a 10.75% increase at the end of the month.
In this article, we discuss the most popular stock on the map and share November’s biggest winner and loser.
NIO takes over
While Tesla made an appearance on our map, its Chinese rival NIO has taken its place of being the most popular stock among our investors. NIO started November off on a strong foot as it announced that it had delivered 5,000 vehicles in October, double the amount from the same period year-over-year. This news was received well by investors.
The electric car maker then published its results for the third quarter later in the month. Total revenues beat analysts’ estimates and increased by 164.40% year-over-year and by 21.70% from the previous quarter.
Biggest movements
Not only was NIO the predominant stock on the map, its 65.24% price increase made it the winner out of the stocks on the map. NIO has had a strong run this year, with prices increasing by 98.16% in the first 11 months of the year.
Novacyt, a small-cap biotechnology company headquartered in France, was the loser this month, with prices decreasing by 23.49%. Like many other companies, Novacyt has been making efforts to combat the spread of the coronavirus. The company manufactures and supplies Covid-19 test kits and is working to expand its Covid-19 product portfolio. Although share prices were down in November, they are still up by 4976.47% since the beginning of the year.
The information in this article is not written for advisory purposes, nor does it intend to recommend any investments.
Sources: Bloomberg, Yahoo Finance
