There were some defining moments for scores of ASX shares over the week gone by.
Here are five stocks that made it to the top of my list.
ASX shares that boomed during the week
Nickel Industries Ltd (ASX: NIC) closed out the week with a bang.
The ASX mining share gained a whopping 13.2% on Friday.
This came after the nickel miner reported it had conducted a capital raising at a significant premium to the closing share price on Thursday day.
Nickel Industries announced a conditional 19.99% placement to PT United Tractors at $1.10 per share, 27% above the prior day's closing price. The capital raising brought in a massive $943 million.
Also ending the week on a very high note was Limeade Inc (ASX: LME), which provides employee well-being software solutions.
The ASX tech share closed up an eye-popping 305% on Friday after reporting that it had entered into an agreement with United States-based WebMD Health Services to acquire 100% of Limeade's shares.
The offer price of 42.5 cents per share represented a 325% premium to Thursday's closing price.
A third ASX share that defined the week was Polynovo Ltd (ASX: PNV).
Shares in the medical device company closed up an impressive 16% on Wednesday on the back of a positive sales update. Polynovo reported that it had achieved sales of $7.2 million in May, a record for the month.
Monthly sales in the United States leapt 97% year on year, while sales in the rest of the world increased by 189%.
"There is a lot to like about our growth, but particularly our rate of growth," Polynovo chairman David Williams said.
With the ASX share soaring on the day, investors clearly agreed.
Not every stock shot higher
Of course, not every ASX share enjoyed a stellar week.
Among the companies losing ground, the Appen Ltd (ASX: APX) share price closed down 12% over the week, despite gaining 10% on Wednesday.
The artificial intelligence data services company has been flying high since US tech giant Nvidia Corporation (NASDAQ: NVDA) forecast second-quarter revenue of US$11 billion, far above analyst expectations.
But atop some likely profit-taking during the week, things took a downward turn on Friday when the ASX share announced it had completed its share purchase plan, raising just under $30 million from retail investors.
Shares were issued at $1.85, well below Monday's opening price of $3.87 per share.
And rounding off the list of ASX shares that defined the week, we have the ASX Ltd (ASX: ASX) itself.
The ASX share price plunged 10% on Tuesday following the company's investor day presentation.
Among the reasons investors were hitting the sell button, the securities exchange increased its guidance for total expenses by 12% for FY23 and by 12% to 15% for FY24.
Investors likely were also displeased by the reduction in the ASX dividend payout ratio policy commencing in FY24.
