Ten stocks gained momentum on Thursday, with some hitting fresh all-time highs, as investor confidence continued to be bolstered by high expectations of an interest rate cut.
The stocks rallied alongside the broader market, with the Dow Jones leading the gains with 1.36 percent, followed by the S&P 500 with a 0.85-percent increase, and the tech-heavy Nasdaq, up 0.72 percent.
Indices aside, the top 10 performers on Thursday came from a mixed sector, five of which notably reached new highs. In this article, we explore the reasons behind their gains.
To come up with the list, we considered the stocks with at least $2 billion in market capitalization and 5 million shares in trading volume.
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10. Planet Labs PBC (NYSE:PL)
Shares of Planet Labs rallied to a new all-time high on Thursday, as investors took path from a price target and rating upgrade from an investment firm.
During the trading session, Planet Labs PBC (NYSE:PL) touched its highest 52-week price of $10.08 before trimming gains to end the day just up by 7.8 percent at $9.67 apiece.
In a market note on Tuesday, Craig-Hallum raised its price target for the stock to $11 from $9 previously, while maintaining a “buy” recommendation amid its strong performance across various businesses, including military, maritime, agriculture, and wide area monitoring.
Additionally, it was optimistic for the company’s expansion beyond imagery, having tapped the power of artificial intelligence to detect objects and changes, and the launch of high-resolution Pelican satellites, among others.
In other developments, Planet Labs PBC (NYSE:PL) announced plans to raise $300 million from the issuance of senior convertible notes to qualified institutional buyers to raise funds for general corporate purposes.
The notes will bear interest rates payable semi-annually in arrears, and will mature on October 15, 2030, unless earlier redeemed, converted, or repurchased.
9. Sandisk Corp. (NASDAQ:SNDK)
Sandisk extended its winning streak to a 7th straight day on Thursday to reach a new all-time high after Morgan Stanley raised its price target and named it as its “top pick” in the sector.
During the session, Sandisk Corp. (NASDAQ:SNDK) jumped to its highest price of $85.89 before paring gains to end the day just up by 14.04 percent at $84.30 apiece.
In a market note, Morgan Stanley upgraded its price target to $96 from $70 previously, while maintaining a “buy” recommendation for the stock.
The upgrade reflected its optimism for the NAND chip market amid the strong demand for enterprise solid-state drivers (eSSDs) from hyperscalers, alongside the ongoing HDD shortages.
Morgan Stanley expects the total NAND market to grow to 250 to 300 exabytes, potentially driving NAND pricing higher by the end of the year, as the AI sector continues to transition from training massive large language models to AI inference, capable of answering questions in real time.
While Sandisk Corp.’s (NASDAQ:SNDK) exposure to eSSDs was limited, Morgan Stanley said it continues to see upside for the firm as it ramps up the BICS 8 process in the second half of the year and positions it for a better 2026.
8. Ondas Holdings Inc. (NASDAQ:ONDS)
Ondas Holdings extended its rally to a second day on Thursday, adding 15.47 percent to close at $6.42 apiece after successfully raising $217 million in fresh funds from the issuance of new shares.
In a statement, Ondas Holdings Inc. (NASDAQ:ONDS) said its follow-on offer received strong demand, having been fully subscribed by investors.
Under the issuance, the company offered 46 million new shares, including 6 million shares under its overallotment option.
Ondas Holdings Inc. (NASDAQ:ONDS) said it plans to use the proceeds for corporate development and strategic growth, including acquisitions, joint venture,s and investments.
Earlier this month, the company launched a new business unit focused on accelerating the global deployment of unmanned and autonomous systems to Allied defense and security markets.
Called Ondas Capital, the unit will combine advisory services with direct investment to support the rapid scaling of mature and combat-proven defense technologies. The unit will initially emphasize activity in Eastern Europe, with a particular focus on Ukraine, and build bridges to Allied markets in the United States and Europe.
Ondas expects to deploy at least $150 million to this initiative over the next two years, with investments expected to begin in the fourth quarter of 2025.
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