Friday can only be described as carnage on Wall Street. The UK’s decision to leave the European Union sent stocks plunging. The S&P was down more than 3.5% while the NASDAQ lost more than 4%. The Dow shed 3.3% or 610 points. Globally, markets sold off and stripped $2.1 trillion in value!
But amidst the carnage, not everything was down. In fact, a few stocks showed some pretty impressive gains.
Skullcandy (:SKULN/A) managed to gain 23% Friday after being acquired by consider-technology provider Incipio for $177 million—a 23% premium over Thursday’s closing price. The stock is up more than 19% since the company disclosed in June that it was in takeover talks.
Despite reporting a 30% decline in profit, Finish Line (:FINLN/A) managed to book a nearly 22% gain Friday. The “challenging retail environment”—better known as Amazon (NASDAQ:AMZNB) was cited as the reason for the decline in profits. The company is aggressively working on closing non profitable stores and a share repurchase program. This sent the stock higher.
Biostar Pharmaceuticals (NASDAQ:BSPMC) is a $9 million Chinese biotech company that soared 30% Friday. News coverage is light on such small stocks but since the beginning of the month the stock is up about 400%.
Gold soared to 2-year highs Friday as a result of Brexit. That sent gold companies higher as well. B2Gold (AMEX:BTGC) was up 10% on the day. The company has seen a major uptrend since late January, adding more than 350% of value.
Exact Sciences, (NASDAQ:EXASC) a $1.6 billion company that makes a colon cancer test was up more than 4% on Friday. The company recently announced that received an upgrade from the United States Preventative Medicine Task Force that puts its test on a level playing field with other screenings. This has resulted in a more than 70% rise in the company’s stock since March with most of the gains coming this month.