The stock market kicked off the trading week in the red territory, as investors repositioned portfolios ahead of the highly anticipated earnings release of technology giant Nvidia Corp.
The Dow Jones led the drop among Wall Street’s main indices, shedding 0.77 percent, followed by the S&P 500 with 0.43 percent, and the Nasdaq by 0.22 percent.
Despite the broader market drop, 10 companies boasted a strong performance, gaining by high single digits to double digits during the day.
In this article, we name the 10 companies that shone out on Monday and detail the reasons behind their gains.
To come up with the list, we considered the stocks with more than $300 million in market capitalization and at least 5 million shares in trading volume.
A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels
10. Roblox Corp. (NYSE:RBLX)
Roblox saw its share prices grow by as much as 8 percent on Monday before paring gains to close at $124.81 apiece as investors took path from an investment firm’s bullish stance, saying that it was “the most compelling growth opportunity in the video game sector.”
In a market note, Wedbush maintained its “outperform” rating and price target of $165 on Roblox Corp.’s (NYSE:RBLX) stock amid its on-hit games that could drive platform growth, developer incentives, infrastructure improvements, and AI-driven discovery features.
The price target represents a 32-percent upside potential from its latest closing price.
Additionally, Wedbush said that Roblox Corp.’s (NYSE:RBLX) expansion into new genres and tapping the older demographics has raised its potential for advertising opportunities, while pricing optimization across games and regions continues to improve revenue streams.
While Wedbush acknowledges risks from ongoing legal challenges over the company’s alleged child sexual exploitation, the investment firm highlighted Roblox Corp.’s (NYSE:RBLX) track record in quick response with meaningful actions to create a safe environment across all age groups.
9. AST SpaceMobile, Inc. (NASDAQ:ASTS)
AST SpaceMobile grew its share prices by as much as 9 percent on Monday before paring gains to end the day at $50.01 apiece as investor sentiment continued to be bolstered by plans to launch 60 satellites next year.
Last week, AST SpaceMobile, Inc. (NASDAQ:ASTS) confirmed its fully-funded plan to deploy 45 to 60 satellites into orbit by 2026, saying that it would support continuous service in the US, Europe, Japan, and other strategic markets, including the US Government.
“We also have planned orbital launches every one to two months on average during 2025 and 2026,” he added.
Additionally, AST SpaceMobile, Inc. (NASDAQ:ASTS) is planning to deploy nationwide intermittent service in the US by the end of the year, followed by the UK, Japan, and Canada in the first quarter next year. This, alone, is expected to rake in revenues between $50 million and $75 million from government and commercial customers in the second half of the year.
In the second quarter, AST SpaceMobile, Inc. (NASDAQ:ASTS) widened its net loss attributable to shareholders by 37 percent to $99.4 million from $72.5 million in the same period last year, despite revenues growing by 28 percent to $1.156 billion from $900 million year-on-year.
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