Micro- and small-cap companies dominated the stock market last week, clocking in impressive gains on the back of a flurry of catalysts that boosted investing appetite.
In this article, we named last week’s top 10 performers that outperformed the Russell 2000 index, which dropped by 4.04 percent week-on-week. Among them, one firm particularly stood out with its outstanding 317-percent jump, thanks to a $1-billion deal that could fuel its growth prospects.
To come up with the list, we considered the stocks with the highest week-on-week change, comparing their share prices on March 7 and February 28.
We classified micro-cap companies as those with a market capitalization below $300 million and small-cap firms as those with a market capitalization below $2 billion.
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10. NetClass Technology Inc. (NASDAQ:NTCL)
NetClass Technology saw its share price grow by 43 percent last week to end at $10.27 apiece from its $7.14 closing price on February 28. Similar to its Chinese peers, the firm has also been riding on the booming artificial intelligence industry in China.
NTCL is a newly-listed company that debuted on the US stock exchange on December 13, 2024, yet its last share price already marked a 105.4-percent increase from its $5 close on its first trading, underscoring investor confidence.
During its initial public offering, NTCL successfully raised as much as $9 million from offering 1.8 million ordinary shares, as well as another $1.35 million from the full exercise of the underwriters’ allotment option.
According to NTCL, proceeds from the offer will be used to fund the development of its courseware and online technology platform, expansion of application development service and subscription services, marketing and brand building, as well as for working capital and general corporate purposes.
9. Fold Holdings Inc. (NASDAQ:FLD)
Fold Holdings grew its share price by 44 percent week-on-week to end Friday’s trading at $7.58 apiece versus the $5.26 finish on February 28 following news that it hiked its Bitcoin ownership by 475.
Following the purchase, FLD’s total Bitcoin ownership now stands at 1,485.
According to FLD, it financed its new acquisition through the issuance of convertible notes at a 100-percent premium with a conversion price of $12.50 per share.
FLD CEO Will Reeves also said that Bitcoin will play a huge role in the foundation of a new financial era, which FLD promised to support moving forward.
Reeves emphasized that Bitcoin’s corporate treasury serves a dual purpose by providing value to investors seeking Bitcoin exposure while also functioning as a strategic reserve to support its Bitcoin-native financial products.
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