2021 has reached the halfway point, and with that in mind, I’d like to take the time and list out five of the biggest stock gainers so far. I say ‘so far’ because it’s difficult to say definitively which stock will be the biggest gainer at the end of the year, but it’s still fun and interesting to speculate.
These entries aren’t the only stocks seeing massive growth in their respective industries but are among the best.
Marathon Oil Corporation (NYSE: MRO)
Marathon Oil has seen a lot of growth in the past 6 months with its stock having gone up 104.33% at the time of this writing, a growth that can be attributed to the waning of the COVID-19 pandemic. The lockdowns and travel restrictions caused demand to plummet to record lows and crude oil production having gone down by 8%.
Since then, crude oil prices have gone up to almost $68 a barrel (as we’ve seen at gas stations) and the Organization for Economic Cooperation and Development has predicted global production to go up significantly.
Microvision Inc (NASDAQ: MVIS)
Microvision, Inc develops laser scanning technology for projecting, 3D sensing, and capturing images, plus the company is working on autonomous vehicle technology and has seen its stock go up 742.64% in the past six months. The reason why Microvision in particular has seen this growth is that it caught the attention of WallStreetBets or WSB.
WallStreetBets took upon themselves to champion Microvision and now the company has been caught up in the meme stock storm with retail investors trying to boost MVIS to $25 per share.
AMC (NYSE: AMC)
AMC was undoubtedly one of the year’s biggest gainers with the company’s stock having gone up 1281% in the past six months thanks to the collective efforts of retail investors. Upon hearing that AMC was going to subject to a short squeeze, WallStreetBets rushed to the aid of the movie theater company and protected the company which led to its shares exploding.
— Stock Market News (@StockMKTNewz) June 5, 2021
AMC said that 80% of its 450 million shares is owned by individual shareholders, and the company’s CEO Adam Aron, aka Silverback on WSB, personally thanked the subreddit for what they did.
BioNano Genomics Inc (NASDAQ: BNGO)
BioNano Genomics is a medical company that finds gene mutations a DNA sequencing machine typically misses and it does this as a service. The company has seen its stock go up over 1515% and this growth can be attributed to these aspects: 1) WallStreetBets catching wind of a short squeeze occurring and 2) a genome mapping system that has attracted a lot of attention.
The Bionano Saphyr® system can identify mutations without complex pipelines. In this breast cancer cell line, a consensus map allowed OGM to identify a succession of a translocation, deletions, and an inversion missed by short & long read-sequencing. https://t.co/6DSletmnvQ pic.twitter.com/tSAsq8RGMA
— Bionano Genomics, Inc. (@bionanogenomics) June 3, 2021
GameStop (NYSE: GME)
GameStop was the obvious choice of being number one, as in the last six months company shares have gone up over 1552%. And this all started when retail investors on WallStreetBets decided to basically save GameStop from short-sellers like Melvin Capital who lost billions of dollars when the short squeeze failed.
— Myles France (@Myles_France) June 6, 2021
At this point, GameStop continues to move on as its seemingly endless rally chugs along.
2021 has been the year of retail investors and WallStreetBets. I think GameStop and AMC will go on to be the top stocks of the year, but we’ll have to wait and see.