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The week in review: Snapchat surges while Netflix shares tumble

by LLB Finance Reporter
26th Oct 20 1:28 pm

As the financial markets continue to experience volatility amidst the ongoing COVID-19 pandemic, here are the most rising and most falling instruments on AvaTrade’s retail trading platform over the past week:

Most rising

Instrument                         Previous Week Change (%)

Snapchat                                           39.00% 

XLMUSD                                            16.50%

General Motors                               14.50%

BTCUSD                                             13.70%

BTCJPY                                               12.80%

Most falling

Instrument                         Previous Week Change (%)

Netflix                                                -10.40%

Tesla                                                   -5.20%

Amazon                                             -5.00%

Saipem                                               -4.80%

Telecom Italia                                   -4.40%

“This week saw Snapchat’s share price soar as the social media app smashed third-quarter revenue expectations by more than US$100m,” said Naeem Aslam, Chief Market Analyst, AvaTrade.

“Cryptocurrency pairings also continue to remain strong with BTCUSD spending a second week in our most rising table, along with BTCJPY which enters this week’s table in fifth place.”

“Meanwhile, Netflix stocks suffered this week on the back of its quarterly results, which revealed it missed its own guidance for subscriber growth. Tesla and Amazon also join Netflix with drops of around 5%, and it’s yet another disappointing week for Saipem – its second in a row in our most falling table – as European and oil shares continue to slide.”

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