10 Stocks Lead Friday’s Charge

The stock market finished in the green territory on Friday, albeit muted trading persisted over the lack of catalysts to fuel investing appetite.

The tech-heavy Nasdaq led gains among Wall Street’s benchmark indices, finishing up by 0.52 percent. Meanwhile, both the Dow Jones and S&P 500 ended the week eking out 0.08-percent gains.

Ten companies mirrored the broader market optimism, finishing the week with modest gains. In this article, we have identified today’s top performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with $2 billion in market capitalization and $5 million in trading volume.

Photo by George Morina on Pexels

10. Roblox Corp. (NYSE:RBLX)

Shares of Roblox Corp. grew by 5.59 percent on Friday to end at $61.16 apiece as investors bought up shares in the company following its adoption of an AI model that would enable 3D creation.

In a statement, RBLX said it now offers what it calls the Cube 3D,  a foundational AI model that can be used to generate 3D objects and environments from simple text prompts.

“Cube will underpin many of the AI tools we will develop in the years to come, including highly complex scene-generation tools. It will ultimately be a multimodal model, trained on text, images, video, and other types of input—and will integrate with our existing AI creation tools,” RBLX said.

“We invest in infrastructure to support AI at every stage of the creation cycle…We envision a future where developers will give their users new ways to create by enabling AI in their experiences. This puts the power of AI in the hands of more than 85 million daily active users as part of their gameplay,” it added.

9. Hims & Hers Health Inc. (NYSE:HIMS)

Hims & Hers rallied by 5.72 percent on Friday to finish at $34.75 apiece as investors loaded up on its shares despite the lack of catalysts to boost investing appetite.

However, its shares noticeably traded sideways based on the generally muted movement in its five-day historical price, as investors appeared to have already priced in the Food and Drug Administration’s (FDA) earlier announcement that the best-selling Wegovy and Ozempic drugs—which HIMS has been making knock-off versions of and which significantly propelled its sales to new heights—is already back in sufficient supply.

Further adding to sideways trading was Bank of America’s outlook for the company, raising its price target by $1 to $22 apiece, a figure that is 37 percent lower than its latest closing price. In addition, Bank of America also assigned an “underperform” rating on HIMS.

Last month, HIMS saw a spike in sales from the Super Bowl event, but investors started to cast doubt that it would sustain momentum due to the FDA’s exclusion of the Wegovy and Ozempic from the shortage list.