During the Chinese New Year holiday from February 10th to February 17th, during the A-share market shutdown, both the Dow Jones and S&P 500 hit historic highs. The tech focused Nasdaq once exceeded 16080, second only to its historical high of 16212.23 points.
During this period, star technology stocks fluctuated, with Tesla up 3.29% and Meta up 1.1%, reaching a new high on February 15th. Amazon, Apple, Microsoft, Google, and others all closed lower.
It is worth noting that multiple stocks related to AI are eye-catching.
(1) Nvidia AI Moments Dancing Together
Nvidia broke through a new historical high, surpassing Google to become the third largest company in the US stock market, leading a group of friends to take off: Micro Micro Computer (SMCI. US), located in its core circle of friends, caught the eye. The company's main business is servers and storage systems, and its stock price broke through the $1000 mark for the first time during this period. After reaching a new high, it plummeted by 20%, and the cumulative increase during the period was 8.5%.
In addition, Nvidia's 13F report shows that it holds two AI stocks: Arm and SoundSound. In terms of investment scale, Nvidia has the largest investment in Arm, reaching $147.3 million, while its investment in SoundSound is relatively small, valued at $3.67 million.
Arm (ARM.US) rose by over 29% on February 12th, with a cumulative increase of over 11% during the Spring Festival period; Small cap newcomer SoundHound (SOUN. US) surged 66% on February 15th, with a cumulative increase of over 69% during the Spring Festival period. The company focuses on developing artificial intelligence software in the audio recognition field, with a current market value of $943 million.
(2) Sora's stone stirred up a thousand waves
Some people are happy while others are sad. On February 16th, OpenAI released the Sora, a large-scale model for cultural and biological videos, which can quickly generate 60 second videos that accurately reflect user prompts, and performs well in dimensions such as multi shot consistency.
The market expects that with the addition of OpenAI Sora, it will completely change the image and film industry, impacting the market positions of Netflix, Disney, Getty Images, and others. The stock price of image software giant Adobe (ADBE) plummeted by 7% on February 16th.
Bitcoin returns to high ground
On Wednesday (February 14th) local time, US Bitcoin concept stocks rose. Riot Platforms (RIOT. US) rose over 9%, Coinbase (COIN. US) rose over 12%, Marathon Digital (MARA. US) rose over 14%, and Cann. US rose over 19%. CoinGecko's data shows that Bitcoin's 22% increase so far this year has led to its market value exceeding $1 trillion for the first time since December 2021.
The gains of the above-mentioned stocks during the Spring Festival period (February 10th to February 17th) are shown in the table below:
The medical and pharmaceutical sector shines brightly
In terms of growth, the medical and pharmaceutical sector of the US stock market has shone brightly in the past week. During the Spring Festival holiday (February 10th to February 17th), more than three companies with a growth rate of over 50% became medical and pharmaceutical companies. Among the 17 companies with a cumulative increase of more than twice, the medical and pharmaceutical industry has the most companies, with a total of six.
These six companies are BioNexus Gene Lab (BGLC. US), a molecular diagnostic company that focuses on the application of functional genomics for early diagnosis and personalized health management; Sangamo Therapeutics (SGMO. US), a biopharmaceutical company, focuses on the development and commercialization of novel transcription factors for gene regulation and modification; Renalytix (RENX. US), the developer of artificial intelligence clinical in vitro diagnostic solutions for kidney disease; Nano x Imaging (NNOX. US), a medical imaging equipment company; Biotechnology company enGene (ENGN. US) is developing a non viral gene therapy based on local delivery of nucleic acid payloads to mucosal tissue; Nature Pharmaceutical Company (UPC. US), headquartered in Ji'an City, Jiangxi Province, China, is a traditional Chinese patent medicines and simple preparations manufacturing enterprise restructured from the former state-owned enterprise Ji'an Luling Pharmaceutical Factory.
Medical and pharmaceutical companies with a cumulative increase of over 80% in the US stock market during the Spring Festival period
It can be seen that multiple bull stocks involve gene therapy, and the medical and pharmaceutical sectors are intertwined with AI.
Among them, Nano-X Imaging is one of the two pharmaceutical companies invested by Nvidia, with a current market value of less than $800 million. The other is Recursion Pharmaceuticals (RXRX. US), a biotechnology company, whose stock price has risen by more than 30% during this period, with a market value of $2.849 billion.