Ten stocks stood firmer on Thursday, defying a lackluster performance in the broader market, thanks to strong earnings and outlook, and corporate partnerships, among others.
Meanwhile, only the S&P 500 finished in the green, albeit inching up by a mere 0.03 percent. The Dow Jones slipped by 0.02 percent, while the tech-heavy Nasdaq dipped by 0.01 percent.
In this article, we focus on the 10 top performers on Thursday and break down the reasons behind their gains.
To compile the list, we focused exclusively on stocks with $2 billion in market capitalization and at least 5 million shares in trading volume.
Photo by George Morina on Pexels
10. IREN Ltd. (NASDAQ:IREN)
IREN Ltd. snapped a four-day losing streak on Thursday, jumping 7.61 percent to close at $19.08 as investors began repositioning portfolios ahead of the release of its earnings performance for the full fiscal period of 2025.
According to the company, it is scheduled to report its financial and operating highlights after market close on August 28, a Thursday, alongside an investor call to elaborate on the results.
Investors will be closely watching out for the company’s outlook for fiscal year 2026, having achieved its operating hash rate target of 50 EH/s, which is expected to help bolster revenues from Bitcoin mining moving forward.
According to the company, a 50 EH/s hash rate could generate $830 million in annualized hardware profit.
Further supporting sentiment, IREN Ltd. (NASDAQ:IREN) announced last week that it was able to generate $83.6 million in revenues from 728 Bitcoins mined in July, or 27.6 percent higher than the $65.5 million in revenues from 620 Bitcoins mined in June.
Average Bitcoin prices in July were also 8.66 percent higher at $114,891 versus the $105,730 the month before.
9. LifeStance Health Group, Inc. (NASDAQ:LFST)
LifeStance Health extended its winning streak to a 5th straight day on Thursday, adding another 7.93 percent to close at $5.58 apiece, on strong investor confidence supported by an impressive earnings performance.
In its updated report on Wednesday, LifeStance Health Group, Inc. (NASDAQ:LFST) said it narrowed its net loss by 84 percent to $3.8 million from $23.3 million in the same period last year. Revenues increased by 11 percent to $345.3 million from $312.3 million year-on-year on the back of a higher visit volume supported by an 11-percent net clinician growth.
Clinician base ended at 7,708 during the period, an increase of 173 from the first quarter of the year.
“I am incredibly proud of the LifeStance team for the strong results achieved in the second quarter,” said LifeStance Health Group, Inc. (NASDAQ:LFST) CEO Dave Bourdon, underscoring the double-digit organic revenue growth and 10 percent adjusted EBITDA margin.
Following the strong performance, LifeStance Health Group, Inc. (NASDAQ:LFST) reaffirmed its full-year revenue growth target of $1.4 billion to $1.44 billion, as well as adjusted EBITDA to $140 million to $150 million.
8. Cipher Mining Inc. (NASDAQ:CIFR)
Cipher Mining rallied for a second day on Thursday, adding 8.57 percent to close at $5.32 as investors continued to take path from investment firms’ bullish ratings and higher price targets for the company.
For its part, Macquarie raised its price target to $8 from $6 previously, marking a 50.4 percent upside potential from its latest closing price. It also assigned an “overweight” rating for the stock.
Keefe, Bruyette, & Woods Inc. gave Cipher Mining Inc. (NASDAQ:CIFR) a new price target of $8, albeit a reduction from the $10 previously, but it remained markedly higher than its closing price on Thursday.
Other firms, Needham and Rosenblatt, also posted a bullish stance, giving a “buy” recommendation, with price targets of $8 and $7, respectively. Rosenblatt’s price target represented a 31.6-percent upside potential from the firm’s latest closing price.
In the second quarter of the year, Cipher Mining Inc. (NASDAQ:CIFR) saw revenues from Bitcoin mining increase by 18.2 percent to $43.56 million from $36.8 million in the same period last year. However, net loss nearly tripled to $45.78 million from $15.29 million, dragged by a 67.6-percent increase in total costs and operating expenses.
7. Cellebrite DI Ltd. (NASDAQ:CLBT)
Cellebrite rallied for a third consecutive day on Thursday, jumping 9.29 percent to end at $15.29 apiece after swinging to profitability in the second quarter of the year.
In its updated report, Cellebrite DI Ltd. (NASDAQ:CLBT) climbed to a net income of $19.48 million from a $23.8 million net loss in the same period last year. Revenues increased by 18 percent to $113.28 million from $95.7 million.
In the first half, the company posted a net profit of $36.88 million, reversing a $95.18 million net loss in the same comparable period. Revenues were higher by 19 percent to $220.8 million versus $185.3 million year-on-year.
Despite strong figures, Cellebrite DI Ltd. (NASDAQ:CLBT) lowered its outlook on key metrics for the full-year period, with revenues now pegged at $465 million to $475 million, versus the $470 million to $485 million targeted previously. The new outlook represents a 16 to 18 percent annual growth, versus the 17 to 21 percent expected prior.
For the third quarter alone, revenues were targeted at $121 million to $126 million, or a 13 to 18 percent growth year-on-year.
Following the performance, investment firm Needham lowered its price target for Cellebrite DI Ltd. (NASDAQ:CLBT) to $18 from $24 previously, but maintained a “buy” recommendation on the stock.
6. Bullish (NYSE:BLSH)
Cryptocurrency exchange Bullish saw its share prices grow by 9.75 percent on Thursday to close at $74.63 apiece as investors continued to post strong confidence in the company.
After its debut on the stock market on Wednesday, August 13, shares of Bullish (NYSE:BLSH) already rose by a whopping 219 percent from its $37 IPO price, to an intra-day high of $118, before paring gains to finish lower.
The company successfully raised $1.1 billion in fresh funds from its IPO, covering 30 million shares or 19.9 percent of its total stock. As of Thursday, it was valued at nearly $11 billion.
Bullish (NYSE:BLSH) joins the roster of publicly listed cryptocurrency exchange platforms, taking advantage of President Donald Trump’s favorable attitude towards the cryptocurrency industry.
Unlike most crypto exchanges, Bullish (NYSE:BLSH) primarily caters to institutional clients, offering spot trading, margin trading, and crypto derivatives, targeting the stable and recurring revenue stream that institutional investors provide.
5. Weibo Corp. (NASDAQ:WB)
Weibo Corp. rallied for a third straight day on Thursday, soaring 11.28 percent to close at $11.44 apiece following an impressive earnings performance in the second quarter of the year.
During the period, Weibo Corp. (NASDAQ:WB) grew its net income attributable to shareholders by 12.23 percent to $125.68 million from $111.9 million in the same period last year. Net revenues, however, grew by only 1.6 percent year-on-year to $444.8 million from $437.9 million, but surpassed analysts’ expectations of $439.68 million.
In the first half, attributable net profit jumped by 44 percent to $232.6 million from $161.37 million, while revenues inched up by nearly 1 percent to $841.6 million from $833.37 million.
Commenting on the figures, Weibo Corp. (NASDAQ:WB) CEO Gaofei Wang said that the company delivered a solid performance for the quarter.
“On the user product front, we focused on the integration of social products and upgrade of recommendation system, which are aimed at improving user engagement and content consumption on the platform. On the AI technology application front, our user community of AI-powered intelligent search grew robustly, which further drove the increase of the overall search needs of users. On the monetization front, our advertising business exhibited solid trend this quarter, leveraging our strengths in new product launch marketing and our capability to capture advertising budget during the e-commerce season,” he said.
4. Equinox Gold Corp. (NYSEAmerican:EQX)
Equinox soared to a new record high on Thursday, as investors took heart from expectations of a strong second half of the year, despite a dismal earnings performance in the past quarters.
At intra-day trading, the company soared to a new high of $7.9, before paring gains to end the day just up by 15.17 percent at $7.82 apiece.
In its updated report, Equinox Gold Corp. (NYSEAmerican:EQX) said it is officially entering a pivotal phase on expectations of strong production in the years ahead, following the completion of its acquisition of Calibre Mining Corp.
“We expect a strong second half of the year, with production on track to meet our full-year consolidated guidance of 785,000 to 915,000 ounces and anticipate continued growth in both production and cash flow into 2026,” said Equinox Gold Corp. (NYSEAmerican:EQX) CEO Darren Hall.
“Our focus is clear as we grow into a top-tier producer—operational excellence, disciplined capital allocation, and deliver on our commitments to drive debt reduction, optimize our balance sheet, and maximize returns for shareholders,” he added.
In the second quarter of the year, Equinox Gold Corp. (NYSEAmerican:EQX) dropped its net income by 93 percent to $23.8 million from $353.5 million in the same period last year, despite revenues increasing by 77.6 percent to $478.6 million from $269.4 million in the same period.
In the first half, the company swung to a net loss of $51.6 million from a $310.7 million net income in the same period last year. Revenues increased by 76.7 percent to $902.4 million from $510.8 million.
3. Opendoor Technologies Inc. (NASDAQ:OPEN)
Opendoor Technologies soared by 25.62 percent on Thursday to end at $3.04 apiece, in what appeared to be a meme rally amid the lack of fresh catalysts to spark buying appetite.
Investors may have taken path from a prominent crypto investor and podcast host, who announced on social media on Wednesday that he had personally acquired shares in Opendoor Technologies Inc. (NASDAQ:OPEN).
“I believe retail investors are a powerful force in financial markets. They can help a company grow, generate new ideas, and bring valuable attention to a narrative,” said Anthony Pompliano, who serves as CEO of ProCap Acquisition Corp. and a former employee of Meta Platforms.
Pompliano also owns a podcast called The Pomp Podcast and a YouTube channel under his name, where he discusses topics about crypto, business, and investing. To date, his channel has more than 624,000 subscribers.
Meanwhile, Opendoor Technologies Inc. (NASDAQ:OPEN) recently regained compliance from the Nasdaq after the latter notified the company earlier this year of its failure to meet the $1 minimum bid price requirement to stay listed.
The issue was resolved after Opendoor Technologies Inc. (NASDAQ:OPEN) announced on August 1 that it had successfully traded above the minimum level for 12 consecutive days from July 15 to 30.
2. DLocal Ltd. (NASDAQ:DLO)
Shares of DLocal skyrocketed by 31.31 percent on Thursday to end at $15.35 apiece, as investor optimism was buoyed by the company’s strong growth outlook for full-year 2025 despite the threats of macroeconomic uncertainties.
In its updated report, DLocal Ltd. (NASDAQ:DLO) said it expects full-year revenues to jump by 30 to 40 percent year-on-year, with adjusted EBITDA growth of 40 to 50 percent in the same comparable period.
“Our updated guidance reflects the strong performance in the first half of the year and the sustained momentum anticipated across our business,” it said.
However, it outlined risks that could potentially impact the company moving forward, including trade tariffs, shifting fiscal regimes in Brazil, and the possibility of currency devaluations or changes in foreign exchange regimes in Argentina and Egypt.
In the first six months of the year, DLocal Ltd. (NASDAQ:DLO) saw its net income increase by 40 percent to $89.5 million from $64 million in the same period last year, while revenues grew 33 percent to $473.2 million from $355.7 million.
1. Terawulf Inc. (NASDAQ:WULF)
Shares of Terawulf soared by as much as 60 percent on Thursday as investors cheered an $8.7-billion revenue opportunity backed by Google for the delivery of critical IT load to a premier AI cloud platform.
In a statement on Thursday, Terawulf Inc. (NASDAQ:WULF) said it entered into an agreement with Fluidstack for the delivery of 200 MW of critical IT load at its Lake Mariner data center campus in Western New York.
The agreements represent approximately $3.7 billion in contracted revenue over the initial 10-year term, with an option for two five-year extensions, which, if exercised, would bring the total contract revenue to $8.7 billion.
According to Terawulf Inc. (NASDAQ:WULF), it received a $1.8-billion fund backing from Google to support project-related debt financing for the Fluidstack project, in exchange for warrants covering 41 million WULF common shares or 8 percent pro-forma equity.
The first phase of deployment will involve 40 MW of critical IT load and is expected to come online in the first half of 2026, with the remaining 160 MW targeted for completion by year-end.
In addition to Google’s backstop, Terawulf Inc. (NASDAQ:WULF) announced its intention to access the capital market, but did not elaborate on whether in the form of debt or share sale.
While we acknowledge the potential of WULF 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 WULF and that has 100x upside potential, check out our report about the cheapest AI stock.
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