Ten companies boasted a strong performance on Tuesday, defying a broader market pessimism, following a series of macroeconomic developments that spurred buying appetite for their shares.
In contrast, the tech-heavy Nasdaq fell by 0.91 percent, the S&P 500 dropped by 0.84 percent, and the Dow Jones was down by 0.70 percent.
In this article, we highlight the 10 best-performing stocks and explore the reasons behind their gains.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and over 5 million in trading volume.
10. First Majestic Silver Corp. (NYSE:AG)
First Majestic saw its share prices grow by 3.39 percent on Tuesday to close at $8.55 apiece, as investor funds flocked to mining stocks following silver prices’ rally to a new all-time high.
As of 4:20 PM EST, the spot prices of silver are up by 2.18 percent at $37.10 per troy ounce, with investors resorting to risk-safe assets such as precious metals amid the ongoing geopolitical tensions in the Middle East.
First Majestic Silver Corp. (NYSE:AG) is one of the publicly listed companies focused heavily on silver mining. In recent news, the company said it discovered a new silver-gold deposit called Santo Nino, one kilometer away from the Santa Elena mining property in Sonora, Mexico.
It was also able to ramp up the production of its Navidad deposit following successful drilling operations.
First Majestic Silver Corp. (NYSE:AG) said that the addition of Navidad and Sto. Nino raised the number of its hosted production sites to four, the others being Sta. Elena and Ermitano.
9. Cleveland-Cliffs Inc. (NYSE:CLF)
Cleveland-Cliffs rallied by 4.92 percent on Tuesday to finish at $7.67 apiece as investor sentiment was boosted by President Donald Trump’s decision to keep tariffs on UK steel imports.
At the sidelines of the G7 summit in Canada, President Donald Trump threatened to keep 25 percent duties on some or all of its steel imports from the UK unless it gives specific guarantees over the Indian-owned steelmaking plant at Port Talbot in South Wales.
“There’s further work to do in relation to steel, but we’re getting on and doing that work,” said UK Prime Minister Keir Starmer.
Duties on imported steel and aluminum products make domestic manufacturers such as Cleveland-Cliffs Inc. (NYSE:CLF) more appealing to customers as it may bolster demand for their products, support competitive pricing for locally-produced goods, and further reduce competition with international producers.
Cleveland-Cliffs Inc. (NYSE:CLF) is a US-based steel and iron ore manufacturer based in Cleveland, Ohio.
8. Bath & Body Works, Inc. (NYSE:BBWI)
Bath & Body Works rallied for a second day on Tuesday, adding 5.03 percent to close at $27.13 apiece as investors continued to load up positions while digesting the developments on the global trade landscape.
In particular, the positive sentiment appears to be supported by the improving relationship between the US and China, having agreed on a new trade deal last week.
Earlier this year, Bath & Body Works, Inc. (NYSE:BBWI) forecast annual sales largely below its expectations with uncertainties in consumer spending due to the global trade tensions.
Late last month, Bath & Body Works, Inc. (NYSE:BBWI) earned a lower price target from Morgan Stanley, but kept a “buy” recommendation.
According to Morgan Stanley, Bath & Body Works, Inc. (NYSE:BBWI) remains under pressure from expectations of lesser insulation from tariffs and deceleration in quarter-on-quarter sales, among others, but holds the potential for future growth.
7. Remitly Global, Inc. (NASDAQ:RELY)
Remitly Global grew its share prices by 5.68 percent on Tuesday to close at $20.64 apiece following the US Senate’s move to loosen taxes on international money transfers, sparking optimism for increased digital remittances.
The taxes were among the points under scrutiny under the “One Big, Beautiful Bill Act,” which, based on the version of the House of Representatives, wanted to slap a 3.5-percent excise tax on remittances and would have imposed an additional burden on immigrants sending money back home.
However, the Senate’s version eliminates remittance taxes funded from certain US accounts or with US-issued debit or credit cards. Senate’s exception only applies to US citizens and American bankers, among others.
In the first quarter of the year, Remitly Global, Inc. (NASDAQ:RELY) swung to a net income of $11.35 million from a net loss of $21 million in the same period a year earlier.
Revenues also increased by 34 percent to $361 million from the $269 million registered year-on-year.
6. Reddit Inc. (NYSE:RDDT)
Reddit extended its winning streak to a fourth straight day on Tuesday, adding 6.05 percent to close at $133.84 apiece as investors cheered the launch of its new Artificial Intelligence-powered feature.
On Monday, Reddit Inc. (NYSE:RDDT) launched the AI-powered Reddit Community Intelligence, which will offer new ad tools that help brands and showcase conversations happening on the platform.
Community Intelligence is the collective knowledge from the billions of human conversations across the Reddit platform. It powers products and insights and turns more than 22 billion posts and comments into structured intelligence for smarter marketing decisions.
As part of its early-stage products, Reddit Inc. (NYSE:RDDT) is offering Reddit Insights and Conversation Summary Add-ons.
Reddit Insights is an AI-powered social listening tool that provides precise, real-time insights that help marketers confidently plan campaigns, validate creative ideas, and make smarter business decisions.
5. PBF Energy Inc. (NYSE:PBF)
PBF Energy rallied for a third day on Tuesday, adding 6.6 percent to close at $24.39 apiece as investors loaded up positions following the surge in oil prices.
As of writing, Brent crude prices have gone up by 4.4 percent, while WTI crude oil prices are up by 0.77 percent.
PBF Energy Inc. (NYSE:PBF), a petroleum refining and logistics company, rallied alongside its counterparts amid the ongoing tensions between Israel and Iran, putting pressure on oil prices.
In recent news, PBF Energy Inc. (NYSE:PBF) said it expects to save more than $200 million of annualized, run-rate sustainable cost savings by year-end 2025.
As a result of the ongoing measures, PBF Energy Inc. (NYSE:PBF) is now programming between $750 million and $775 million in capital expenditures. The amount excludes the costs to restore the fire damage to the Martinez Refinery last February.
In the first quarter of the year, PBF Energy Inc. (NYSE:PBF) swung to an attributable net loss of $401.8 million from a net income of $106.6 million in the same period last year. Revenues declined by 18 percent to $7.07 billion from $8.64 billion year-on-year.
4. Oscar Health, Inc. (NYSE:OSCR)
Oscar Health grew its share price by 7.76 percent on Tuesday to close at $16.11 apiece following news that lawmakers are proposing a new measure that would allow individuals and employers to voluntarily enroll in a new version of Medicare.
Under the proposed legislation, it would establish “Part E,” a self-funded Medicare plan to be offered alongside private insurance across all states and federal marketplaces.
Oscar Health, Inc. (NYSE:OSCR) is among the American insurance companies offering government-backed health insurance services, including Medicare and Medicaid.
In other recent news, Oscar Health, Inc. (NYSE:OSCR) announced a 55-percent increase in net income attributable to the company of $275 million versus the $177 million in the same period last year.
Revenues were also higher by 42 percent to $3.05 billion from $2.14 billion year-on-year.
3. CoreWeave, Inc. (NASDAQ:CRWV)
CoreWeave rallied by 8.47 percent on Tuesday to close at $171.93 apiece, hitting a new all-time high on continued investor excitement over artificial intelligence.
In recent news, CoreWeave, Inc. (NASDAQ:CRWV) announced record-breaking performance results using Nvidia Corp.’s latest Grace Blackwell chips.
CoreWeave, Inc. (NASDAQ:CRWV) said in a statement that it used 2,496 Nvidia GPUs on its AI-optimized cloud platform, making its submission the largest-ever benchmarked under MLPerf.
CoreWeave, Inc. (NASDAQ:CRWV) said that the test was 34x larger than the only other submission from a cloud provider.
“AI labs and enterprises choose CoreWeave because we deliver a purpose-built cloud platform with the scale, performance, and reliability that their workloads demand,” said CoreWeave, Inc. (NASDAQ:CRWV) Chief Technology Officer Peter Salanki.
“These MLPerf results reinforce our leadership in supporting today’s most demanding AI workloads,” he added.
The announcement followed its newly clinched $7-billion deal with Applied Digital Corporation (NASDAQ:APLD), covering two 15-year lease agreements, under which the latter will deliver 250 megawatts of critical IT load to host its artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus.
2. Jabil Inc. (NYSE:JBL)
Jabil Inc. rallied by 8.89 percent on Tuesday to end at $196.89 apiece following news that it would invest $500 million over the next several years for the expansion of cloud and AI data center infrastructure in the US.
The commitment will enable new large-scale manufacturing capabilities, capital investments, and workforce development.
“This initiative is a key element of our long-term strategy to diversify our commercial portfolio and strengthen Jabil’s presence in the US,” said Jabil Inc. (NYSE:JBL) CEO Mike Dastoor.
“While the geopolitical landscape remains dynamic, our position as a US-based company with a significant domestic footprint enables us to help the world’s leading brands navigate challenges with agility and resilience,” he added.
Based in St. Petersburg, Florida, Jabil has 30 sites across the United States including automation, robotics, and process optimization. These facilities support demand for production at scale across industries.
1. PureCycle Technologies, Inc. (NASDAQ:PCT)
PureCycle Technologies jumped by 18.96 percent on Tuesday to end at $14.12 apiece after raising $300 million in fresh funds through the issuance of convertible preferred stock.
In a statement on Tuesday, PureCycle Technologies, Inc. (NASDAQ:PCT) said it entered into a transaction with a series of new and existing investors, including Duquesne Family Office LLC, Wasserstein Debt Opportunities, Samlyn Capital, Pleiad Investment Advisors, and Sylebra Capital Management.
Proceeds from the offer will be used to bring one billion pounds of installed capacity online before 2030 across the United States, Europe, and Asia.
“Following significant production progress at the Ironton Facility, momentum in our commercialization efforts, and confidence in financing efforts, the time for growth is now. Over the last several years, we have continued to invest time and resources in progressing our global growth plans, and this capital will allow us to execute on those plans,” said PureCycle CEO Dustin Olson.
“This is an impressive group of investment organizations, and we are thankful for their continued support,” he added.
While we acknowledge the potential of PCT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PCT and that has 100x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email below.
