Let’s take a closer look at the top ten performing small-cap stocks that have captured investors' attention this Wednesday, August 23.
CarGurus (CARG): CarGurus is an online automotive marketplace that helps users find cars to buy or sell. The company has been growing rapidly in recent years, and it is now the leading online automotive marketplace in the United States. CarGurus is expected to continue to grow in the future, as more and more people use the internet to shop for cars. CARG is up 14.2%.
Recent news: CarGurus announced on August 22, 2023, that it had acquired Instamotor, a competitor in the online automotive marketplace space. This acquisition is expected to help CarGurus expand its reach and grow its market share.
Upstart Holdings (UPST): Upstart Holdings is a lending platform that uses artificial intelligence to assess borrowers' creditworthiness. The company has been growing rapidly in recent years, and it is now one of the leading online lenders in the United States. Upstart is expected to continue to grow in the future, as more and more lenders adopt artificial intelligence to assess borrowers' creditworthiness. UPST is up 12.8%.
Recent news: Upstart announced on August 22, 2023, that it had raised $750 million in funding. This funding will be used to grow the company's operations and expand its reach.
SoFi Technologies (SOFI): SoFi Technologies is a financial technology company that provides student loans, personal loans, and other financial products. The company has been growing rapidly in recent years, and it is now one of the leading neobanks in the United States. SoFi is expected to continue to grow in the future, as more and more people use technology to manage their finances. SOFI is up 10.9%.
Recent news: SoFi announced on August 22, 2023, that it had acquired Technisys, a provider of cloud-based banking software. This acquisition is expected to help SoFi expand its product offerings and improve its efficiency.
Affirm Holdings (AFRM): Affirm Holdings is a buy-now-pay-later company that allows users to make purchases and pay for them over time. The company has been growing rapidly in recent years, and it is now one of the leading buy-now-pay-later companies in the United States. Affirm is expected to continue to grow in the future, as more and more people use buy-now-pay-later options to finance their purchases. AFRM is up 10.2%.
Recent news: Affirm announced on August 22, 2023, that it had partnered with Amazon to offer its buy-now-pay-later option to Amazon customers. This partnership is expected to help Affirm reach a wider audience and grow its business.
Alector (ALEC): Alector is a clinical-stage biotechnology company developing treatments for neurodegenerative diseases. The company's lead product candidate is AL001, which is a monoclonal antibody targeting tau, a protein that is involved in Alzheimer's disease. Alector is expected to continue to develop its product pipeline and advance its clinical trials in the future. ALEC is up 9.8%.
Recent news: Alector announced on August 22, 2023, that it had received a $200 million investment from Pfizer. This investment will be used to support the development of AL001 and other product candidates in Alector's pipeline.
Cloudflare (NET): Cloudflare is a cloud computing company that provides a variety of services, including content delivery network (CDN), security, and DDoS protection. The company has been growing rapidly in recent years, and it is now one of the leading cloud computing companies in the world. Cloudflare is expected to continue to grow in the future, as more and more businesses and organizations move their operations to the cloud. NET is up 6.71%.
Recent news: Cloudflare announced on August 22, 2023, that it had acquired Incapsula, a competitor in the CDN and security space. This acquisition is expected to help Cloudflare expand its reach and grow its market share.
Sea Limited (SE): Sea Limited is an e-commerce company that operates in Southeast Asia. The company's main businesses are Shopee, an e-commerce platform; SeaMoney, a digital payments platform; and Garena, a gaming platform. Sea Limited has been growing rapidly in recent years, and it is now one of the largest e-commerce companies in Southeast Asia. Sea Limited is expected to continue to grow in the future, as the e-commerce market in Southeast Asia continues to grow. SE is up 5.96%.
Recent news: Sea Limited announced on August 22, 2023, that it had raised $6 billion in funding. This funding will be used to grow the company's businesses in Southeast Asia and expand into other markets.
Roblox Corporation (RBLX): Roblox is a gaming platform that allows users to create and play games. The platform has been growing rapidly in recent years, and it is now one of the most popular gaming platforms in the world. Roblox is expected to continue to grow in the future, as the gaming market continues to grow and as more and more people use the platform to create and play games. RBLX is up 5.65%.
Recent news: Roblox announced on August 22, 2023, that it had acquired Loom Network, a blockchain platform for games. This acquisition is expected to help Roblox integrate blockchain technology into its platform and create new opportunities for its users.
Futu Holdings Limited (FUTU): Futu Holdings Limited is a Chinese online brokerage firm. The company provides a variety of services to investors, including online trading, margin financing, and research. Futu Holdings has been growing rapidly in recent years, and it is now one of the leading online brokerage firms in China. Futu Holdings is expected to continue to grow in the future, as the Chinese economy continues to grow and as more and more people invest in the stock market. FUTU is up 5.52%.
Recent news: Futu Holdings announced on August 22, 2023, that it had raised $500 million in funding. This funding will be used to grow the company's businesses in China and expand into other markets.
Snowflake (SNOW): Snowflake is a cloud-based data warehousing company. The company provides a platform for businesses to store, analyze, and share data. Snowflake has been growing rapidly in recent years, and it is now one of the leading cloud-based data warehousing companies in the world. Snowflake is expected to continue to grow in the future, as more and more businesses move their data to the cloud. SNOW is up 5.46%.
Recent news: Snowflake announced on August 22, 2023, that it had acquired StreamSets, a data integration platform. This acquisition is expected to help Snowflake expand its capabilities in the data integration space.