Ten stocks kicked off the trading week with whopping gains, mirroring the rally on Wall Street, amid the start of the third-quarter earnings season. Of the 10 firms, four soared to fresh record highs.

Meanwhile, the Nasdaq led the rally among Wall Street’s indices, jumping by 1.37 percent, followed by the Dow Jones, up 1.12 percent, and the S&P 500, increasing 1.07 percent.

In this article, we highlight the names of the 10 companies that led Monday’s charge, breaking down the reasons behind their strong performance.

To come up with the list, we focused exclusively on stocks with a $2 billion market capitalization and 5 million shares in trading volume.

10. iQIYI Inc. (NASDAQ:IQ)

iQIYI rebounded from a 15-day drop on Monday, jumping 8.37 percent to close at $2.2 apiece, as investors appeared to have hunted for bargains to take advantage of its cheap value.

Since September 24, shares of iQIYI Inc. (NASDAQ:IQ) have been trading lower, only recovering on Monday, nearly a month later, amid the lack of fresh developments to spark buying appetite.

In recent news, iQIYI Inc. (NASDAQ:IQ) announced that it partnered with Japan-based comprehensive entertainment firm, Kadokawa Corp., for the distribution of animated series on its platform.

“We have seen a growing global demand for high-quality Chinese animation, driven by audiences’ appreciation for authentic stories and cultural richness,” said iQIYI Inc. (NASDAQ:IQ) General Manager for International Distribution Alice Leung.

“Through the collaboration with Kadokawa … we look forward to bringing more captivating and culturally meaningful stories to viewers around the world,” she noted.

Additionally, it registered an 11.2 percent surge in viewership data during the recently concluded National Holiday in China, versus the pre-holiday period.

9. Riot Platforms, Inc. (NASDAQ:RIOT)

Riot Platforms grew its share prices by 9.89 percent on Monday to finish at $22.01 apiece as investors began loading portfolios ahead of the results of its third quarter earnings performance.

In a statement late last week, Riot Platforms, Inc. (NASDAQ:RIOT) said that it is scheduled to announce its financial and operating highlights on October 30 after market hours. A conference call will be held to elaborate on the results.

Earlier this month, Riot Platforms, Inc. (NASDAQ:RIOT) announced a 7 percent decline in Bitcoins produced for September, ending only at 445 versus the 477 mined in August.

It also sold 465 Bitcoins at an average price of $113,043 during the period, as compared with the 450 units sold at an average of $115,035 in the same comparable period. As of last month, the company’s total Bitcoin holdings stood at 19,287.

Meanwhile, investors will be watching out for cues on the company’s outlook for its business, particularly with its planned transition to servicing the growing artificial intelligence (AI) and high-performance computing (HPC) segments.

8. Joby Aviation, Inc. (NYSE:JOBY)

Joby Aviation snapped a three-day losing streak on Monday, surging 11.3 percent to close at $17.43 apiece over renewed optimism for the electric vertical take-off and landing (eVTOL) industry.

The rally was supported by Florida’s announcement of a new test site, which it hopes to attract the next-generation air transport companies, as the US ramps up the development of air taxis in the country.

According to Florida Gov. Ron DeSantis, a new aerial test bed is set to be developed at the SunTrax facility in Polk County, which will include two vertiports and is intended for eVTOL aircraft’s take-off and landing.

“The idea would be, if they could do this to scale, if they can make it economical, it would take some traffic off the roads, because people—they could cycle through with travelers on doing that. So we’re just trying to have as many options as possible,” DeSantis was quoted as saying in a report.

Joby Aviation, Inc. (NYSE:JOBY) currently stands as one of the two leading eVTOL companies in the US, with the other being Archer Aviation Inc. (NYSE:ACHR)

Earlier this month, Joby Aviation, Inc. (NYSE:JOBY) successfully raised $591 million in fresh funds from the issuance of new shares, with proceeds to be used to fund its certification, manufacturing efforts, preparations for commercial operations, as well as general corporate purposes.

7. Enovix Corp. (NASDAQ:ENVX)

Enovix ended two straight days of losses on Monday, jumping 13.02 percent to finish at $12.67 apiece as investors continued to hunt for shares in firms that are expected to benefit from China’s battery export restrictions.

Investors gobbled up shares in Enovix Corp. (NASDAQ:ENVX), a California-based battery company, on expectations that China’s new export policies would push customers to look elsewhere for supplies.

Additionally, the rally was supported by the US government’s backing of the lithium industry following its recent investment in Lithium Americas, as it aims to prop up domestic manufacturing and reduce reliance on imports.

In other news, Enovix Corp. (NASDAQ:ENVX) last week announced its inclusion in Fast Company’s Next Big Things in Tech list, which highlights emerging technologies such as artificial intelligence and robotics, among others, that have the potential to impact industries.

“AI is transforming how we use our devices, but it also puts unprecedented strain on battery performance,” Enovix Corp. (NASDAQ:ENVX) CEO Raj Talluri said.

“Our product architecture enables 100 percent active silicon-anode solutions that deliver the energy density, safety and speed needed for next-generation smartphones and AI devices. Fast Company’s recognition underscores the industry’s need for a step-change in battery performance—and Enovix is delivering it.”

6. Intellia Therapeutics, Inc. (NASDAQ:NTLA)

Intellia Therapeutics soared to a new all-time high on Monday, despite the lack of catalysts to boost buying appetite.

During the session, the stock soared to its highest 52-week price of $27.98 before paring gains to end the day just up by 13.05 percent at $27.98 apiece.

Earlier this month, Intellia Therapeutics, Inc. (NASDAQ:NTLA) earned an overall bullish sentiment from two investment companies, on strong optimism for its earnings and hereditary angioedema (HAE) program.

In a market note earlier, JMP Securities gave an “outperform” rating for the stock with a price target of $33, or an upside potential of 17.9 percent from its latest closing price.

According to the investment firm, the company’s drug candidate, lonvo-Z, could capture a 19-percent market share and potentially translate to $2.8 billion market opportunity.

Topline data are expected in the first half of 2026, while a biologics license application (BLA) is targeted to be submitted in the second half of 2026.

If and when approved by the Food and Drug Administration, Intellia Therapeutics, Inc. (NASDAQ:NTLA) is scheduled to launch the drug in the first half of 2027.

5. USA Rare Earth, Inc. (NASDAQ:USAR)

USA Rare Earth snapped a four-day losing streak on Monday, jumping 13.92 percent to finish at $31.59 apiece as investors took heart from investment firm William Blair’s bullish coverage for the stock.

In a market note, William Blair gave an outperform rating on USA Rare Earth, Inc. (NASDAQ:USAR), alongside United States Antimony Corp., American Resources Corp., NioCorp Developments Ltd., and Royalty Management Holding Corp., on the belief that they were uniquely positioned to benefit from the surge in interest and investments in domestic rare earth production.

For USA Rare Earth, Inc. (NASDAQ:USAR) alone, William Blair highlighted the looming start of operations of a magnet facility that is expected to support its growth.

Earlier this month, USA Rare Earth, Inc. (NASDAQ:USAR) announced that it was in talks with the US government and that it was keeping it informed about its plans.

The negotiations followed the Trump administration’s acquisition of significant stakes in other listed mining companies, namely MP Materials and Lithium Americas, in line with plans to prop up domestic supply and reduce reliance on imports.

4. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Recursion Pharmaceuticals soared by 13.99 percent on Monday to close at $6.68 apiece as investors resorted to bargain-hunting following a two-day drop, while repositioning portfolios ahead of earnings release.

Based on its historical reporting dates, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) will announce the results of its third quarter financial and operating highlights in the first week of November 2025.

To recall, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) incurred a 76 percent higher net loss in the second quarter of the year, at $171.9 million, versus the $97.5 million in the same period last year.

Revenues, on the other hand, increased by 33 percent to $19.2 million as compared with the $14.4 million year-on-year, with the bulk consisting primarily of revenues from collaboration agreements.

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is a clinical stage biotechnology company leveraging sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry. It is among the few companies that technology giant Nvidia Corp. directly invested in.

3. Navitas Semiconductor Corp. (NASDAQ:NVTS)

Navitas rebounded on Monday to hit a new all-time high as investors began loading positions ahead of the results of its earnings performance, supported by strong optimism for the booming semiconductor sector.

In intra-day trading, Navitas Semiconductor Corp. (NASDAQ:NVTS) surged to a 52-week high of $17.79 before paring gains to end the day just up by 16.64 percent at $17.10 apiece.

According to the firm, it is scheduled to release the results of its third quarter financial and operating highlights after market close on November 3, to be followed by a conference call to elaborate on the results.

Last week, Navitas Semiconductor Corp. (NASDAQ:NVTS) unveiled a new chip capable of supporting Nvidia Corp.’s 800-volt direct current (VDC) system for the next-generation artificial intelligence (AI).

Called GaNFast and GeneSic, Navitas Semiconductor Corp. (NASDAQ:NVTS) said that both technologies are capable of providing unprecedented levels of power density, efficiency, and scalability for the 800-VDC system.

“As NVIDIA drives transformation in AI infrastructure, we’re proud to support this shift with advanced GaN and SiC power solutions that enable the efficiency, scalability, and reliability required by next-generation data centers,” Navitas Semiconductor Corp. (NASDAQ:NVTS) President and CEO Chris Allexandre said.

“[With] the industry [moving] rapidly toward megawatt-scale AI computing platforms, the need for more efficient, scalable, and reliable power delivery becomes absolutely critical. The transition … to 800 VDC is not just evolutionary, it’s transformational,” he added.

2. Cleveland-Cliffs Inc. (NYSE:CLF)

Cleveland-Cliffs snapped a three-day losing streak on Monday to jump to a new all-time high as investors cheered the company’s plans to diversify into rare earth mining as part of its commitment to support government goals.

In intra-day trading, the stock soared to its highest 52-week price of $16.7 before paring gains to finish the session up by 21.47 percent at $16.18 apiece.

In an updated report, Cleveland-Cliffs Inc. (NYSE:CLF) Chairman and CEO Lourenco Goncalves said that the company officially kicked off efforts to expand beyond steelmaking and into rare earth mining, with the potential of two mining sites in Michigan and Minnesota being explored at present.

“If successful, it would align Cleveland-Cliffs with the broader national strategy for critical material independence, similar to what we achieved in steel. American manufacturing shouldn’t rely on China or any foreign nation for essential minerals, and Cliffs intends to be part of the solution,” Goncalves said.

In the third quarter of the year, Cleveland-Cliffs Inc. (NYSE:CLF) widened its net loss attributable to shareholders by 2.87 percent to $251 million from $244 million in the same period last year. Revenues, on the other hand, inched up by 2.8 percent to $4.7 billion from $4.57 billion year-on-year.

1. Celcuity Inc. (NASDAQ:CELC)

Celcuity soared to a fresh record high on Monday, as investors cheered stellar results of the third phase of a clinical trial for the efficacy of gedatolisib in patients with advanced breast cancer.

In intra-day trading, the stock jumped to its highest price of $83, or a 59.7-percent jump, before trimming gains to end the day just up by 35.84 percent at $70.58 apiece.

This followed announcements that its drug candidate—gedatolisib, in combination with two other drugs (called the triplet)—showed a marked 76 percent reduction in the disease progression of enrolled patients with HR+/HER2- advanced breast cancer.

Meanwhile, gedatolisip doublet, which is in combination with a partner drug, reduced the disease progression by 67 percent.

According to Celcuity Inc. (NASDAQ:CELC), hazard ratios for the triplet and doublet were more favorable than have ever been reported by any Phase 3 trial for patients with the said illness.

Following the results, Celcuity Inc. (NASDAQ:CELC) said it is now readying its new drug application with the Food and Drug Administration, with the official submission targeted by the end of the year.

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