The end of February marks the end of the shortest month of the year and another interesting month in the investing world. The S&P 500 and the EURO STOXX 50 posted gains of 2.61% and 4.45% respectively.
In this article, we discuss the companies that made an appearance on the map for the first time and share February’s biggest winner and loser.
Newcomers on the map
While we see some companies on the map month after month, three companies were traded the most for the first time, making their debut on our map:
Not only did Sundial Growers make an appearance for the first time, but it is also the first time a cannabis stock is on our map. It was the most traded stock by our Spanish, Greek and Italian investors.
Sundial is a Canadian company that produces and markets cannabis products for the adult-use market. Its portfolio of brands includes Topleaf, Palmetto, Sundial Cannabis, Grasslands and BC Weed Co. It is a penny stock, and prices increased by 63.19% in February.
According to Reuters, cannabis stocks rallied in November when Joe Biden won the US election and again in January when democrats secured control over the senate. Biden’s administration has suggested the federal decriminalisation of marijuana in the US. However, it is unclear what the upside of US decriminalisation will be for Canadian companies.
Similar to GameStop, Sundial has gotten attention on the WallStreetBets forum on Reddit this year, along with other cannabis companies. On February 10th, a website that tracks stock ticker mentions on Reddit, Swaggy Stocks, found that Sundial Growers was mentioned the most. That same day, prices jumped by 79%.
SOS was traded the most by our Hungarian investors. Formally called China Rapid Finance, it is a Chinese company that provides rescue services in China with marketing data, technology and solutions. It is engaged in big data, cloud computing, Internet of Things, blockchain and artificial intelligence. It created an SOS cloud emergency rescue service as a software (SaaS) platform, which is used by insurance companies, financial institutions, medical institutions, auto manufacturers, senior living assistance providers and others in the emergency rescue services industry.
SOS has also recently entered the cryptocurrency space. In February, SOS announced a securities purchase agreement with certain accredited investors to purchase $110 million worth of shares and warrants. The proceeds are said to be used to help develop its cryptocurrency mining and cryptocurrency security and insurance business. Stock prices ended the month up by 56.91%.
SpineGuard is a small-cap French company that develops and markets its products for spine surgeries. Its devices have been used worldwide in over 80,000 surgical procedures. It was traded the most among our French investors.
Last month, the company received FDA (Food and Drug Administration) clearance in the US for the commercial release of its DSG (Dynamic Surgical Guidance) sensing technology. The technology includes probes and smart screws for spine surgery that transmit real time information X-Ray free to its DSG Connect module. SpineGuard CEO said that the clearance affirms its position as a player in the digital surgery industry. Prices were up by 101.77% at the end of the month.
SpineGuard was February’s winner of the stocks on the map, with prices increasing by 101.77%. On the losing end was GameStop, as prices dropped by 68.70%. In January, Reddit users and retail investors drove stock prices up by 1,625.05% in a short squeeze. Prices fell drastically from January highs at the beginning of February. However, prices began to increase during the last week of February, posting a weekly gain of 151%.
Investing via DEGIRO
Would you like to invest in one of the companies seen on the map? For all stocks trading on US exchanges, we offer a low fee of €0.50 + $0.004 per share. Fees vary for all other exchanges. For details, please visit our Fees page.
In addition to these, we offer a multitude of other companies and financial products to invest in on more than fifty exchanges across thirty countries. For details, please visit our Markets page.
You can trade GameStop with a DEGIRO account with Limit and Stop Limit order types. Due to the extreme volatility, placing a Market order might result in executions at unintended prices. This is why Market orders for this product have temporarily been disabled.
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The information in this article is not written for advisory purposes, nor does it intend to recommend any investments. Please be aware that facts may have changed since the article was originally written. Investing involves risks. You can lose (a part of) your deposit. We advise you to only invest in financial products that match your knowledge and experience.
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Sources: Bloomberg, Reuters, Motley Fool, Sundial Growers, SOS, SpineGuard