Tech stocks have been the most significant market movers so far in 2019. The tech sector fluctuated along with the sentiment towards trade talks this year, so it’s been an up and down year. However, tech stocks went hot over the past few weeks, and they continue to perform.
Chinese officials are pessimistic about the chances of a phase one trade deal with the US. The news has affected several stocks on Monday, November 18. However, some tech stocks have managed to keep their trend and record higher prices.
To stay up on all the hottest tech stocks, be sure to follow The Dork’s latest top stock picks. Check out our other high-tech sector reports:
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Four Best Tech Stocks to Trade this Week
With the market slightly retreating on Monday, some stocks are trading in the red zone. However, here are the top four tech stocks you can trade this week.
GlobalSCAPE, Inc. (GSB)
GlobalSCAPE is a software developer based in San Antonio. The company’s stock has had an exciting couple of days, rising by 14.27% during Monday’s trading session. It is also up by 3% at Tuesday’s pre-market session and currently trades at $11.88 per share. Following its recent trend, GlobalSCAPE’s stock might soar in the coming days.
On Monday, the company announced that it has come to a five-year agreement with several banks, led by JP Morgan. The deal will see the company receive a $55 million credit facility. The company also declared a special cash dividend of $3.35 per share, slated for November 29. However, the dividends will be paid on December 5, 2019.
Orion Energy Systems, Inc. (OESX)
Orion Energy Systems, Inc. is another tech company whose stock has been performing well. The Plymouth based intelligent controls enterprise has seen its stock price rise by 12.46% in the past 24 hours. After recording gains in recent days to trade at $3.79 per share at Tuesday’s pre-market session, Orion’s stock price could rise higher.
Although there is no underlying catalyst behind its recent moves, institutional investors are increasing their stake in the company. North Star Investment Management Corp, Bailard Inc., Hillsdale Investment Management Inc., Bank of New York Mellon Corp, and Acadian Asset Management LLC, increased their stakes in Orion.
Veritone Inc. (VERI)
Veritone is a Costa Mesa-based developer of artificial intelligence (AI) platforms. Veritone’s stock has one of the best performers so far. It could be set to rise higher over the coming days. It is up by 1.3% at Tuesday’s pre-market trading session after rising by 9.7% on Monday. The stock is currently trading at $3.15 per share.
On Monday, Zacks Investment Research upgraded Veritone’s stock from a ‘HOLD’ to a ‘BUY.’ Researchers at Zacks Investment expect the share to increase by 6% from its current price. Similarly, analysts at Northland Securities maintained their ‘BUY’ ratings of the stock. They expect it to reach the $10 mark soon. Meanwhile, ValuEngine upgraded Veritone from a ‘BUY’ to a ‘STRONG BUY.’
Synchronoss Technologies, Inc. (SNCR)
Synchronoss is a global software and service company based in New Jersey. The tech company’s stock is trading at $4.52 per share at Tuesday’s pre-market session. It rallied by 9% on Monday and might continue the trend for the remainder of the week.
On November 12, the company, which is an expert in cloud, messaging, digital, and IoT products, announced a partnership with AT&T, Sprint, T-Mobile, and Verizon.
The agreement will see Synchronoss deliver a superior mobile messaging experience on all four largest mobile operators in the US. The partnership could see the stock recover, following an abysmal performance so far this year.
More Best Tech Stocks to Trade
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