The stock market extended losses on Thursday, with all the major indices ending in the red as investors continued to sell off positions to minimize risks from the ongoing trade tensions globally.

The tech-heavy Nasdaq fell the hardest, down 0.53 percent, followed by the Dow Jones at 0.37 percent, and the S&P 500 at 0.33 percent.

The broader market decline was mainly weighed down by shares in automakers following President Donald Trump’s announcement of a 25-percent tariff on all vehicles imported to the US.

Meanwhile, 10 companies defied a broader market pessimism amid fresh company developments that buoyed buying appetite. Two gold miners were particularly notable as investors sought safer assets amid the economic uncertainties.

In this article, we listed Thursday’s 10 best performers and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.

10. Bilibili Inc. (NASDAQ:BILI)

Shares of Bilibili rose for a second day on Thursday, adding 3.70 percent to close at $20.16 apiece as investors took heart from news that Bank of America increased its long-term positions in the company.

According to a report by Reuters, Bank of America purchased more shares in BILI last week, raising its ownership to 6.78 percent from 6.02 percent previously. The additional shares signaled investor confidence and pushed investors to gobble up shares in the firm.

During the last quarter, BILI swung to a net income attributable to shareholders of RMB89.96 million from a RMB1.296 billion net loss in the same period a year earlier, as revenues grew 21.8 percent to RMB7.7 billion from RMB6.3 billion in the same comparable period.

9. Equinox Gold Corp. (NYSEAMERICAN:EQX)

Equinox Gold grew its share prices by 3.95 percent on Thursday to end at $7.10 apiece in line with gold’s new all-time high as investors set sights on safer assets to minimize risks from the ongoing trade tensions.

As of Thursday, 4:19 pm ET, the spot prices of gold were up by 1.19 percent at $3,055.64 per ounce. This marked as the 17th time it hit a record high this year.

EQX is a leading gold producer with operations in the US, Canada, Mexico, and Brazil.

Last month, the company was able to produce 213,960 ounces of gold in the fourth quarter of 2024 and 621,870 ounces for the full year. Its Greenstone mine, which it now fully controls, contributed 111,710 ounces in its first partial year of operations after achieving commercial production.

EQX also said it ended the year with approximately $240 million in cash and equivalents and $105 million available to draw on its revolving credit facility, as well as another $100 million undrawn accordion feature.

During the fourth quarter, the company was able to slash its debt by $180 million with the payment of the final $40 million due to Orion Mine Finance for the purchase of its 40 percent interest in Greenstone and with the conversion to equity by the holders of $140 million in convertible notes.

8. Abbott Laboratories (NYSE:ABT)

Abbott Laboratories extended its rally for a second day, ending Thursday’s trading higher by 3.74 percent at $131.35 each as investor sentiment was fueled by a rating upgrade from an investment firm.

On Thursday, analysts from Oppenheimer gave the company an “outperform” rating and a price target of $134, a 2-percent upside from ABT’s last closing price.

Oppenheimer said its rating was buoyed by ABT’s receiving of the CE Mark in Europe for its Volt PFA catheter, a treatment for patients battling atrial fibrillation.

With the earlier-than-expected CE Mark, Abbott has begun commercial PFA cases in the EU with physicians who have already gained experience with the Volt PFA System within Abbott’s PFA clinical studies. The company will further expand the use of Volt in EU markets throughout the second half of the year.

According to Oppenheimer, the early CE Mark approval may suggest a potential for the US Food and Drug Administration approval to align with the earlier end of the projected timeline.

ABT expects to secure the CE Mark for the catheter in the United States between this year and 2026.

7. Aurora Innovation Inc. (NASDAQ:AUR)

Aurora Innovation rallied by 4.78 percent on Thursday to finish at $7.46 apiece as investors took heart from a positive rating from a financial services company.

On Thursday, Oppenheimer assigned an “outperform” rating on AUR and gave the company a price target of $15, a 101-percent upside from the firm’s latest closing price.

The rating was based on AUR’s methodical and sustainable progress in the industry which it will face a limited competition, further supported by its expected launch of driverless trucks this year.

According to Oppenheimer, AUR’s strategy positions itself as a pioneer in the sector. Its focus on developing integrated solutions for autonomous trucking is expected to set it apart from other players in the market. The combination of advanced technology and strategic partnerships underlines AUR’s potential for growth.

6. IAMGOLD Corporation (NYSE:IAG)

IAMGOLD extended its winning streak for a third straight day on Thursday, finishing 5.24 percent higher at $6.43 each as investors gobbled up shares in the company following spot gold prices’ new record high.

As of Thursday, 4:19 pm ET, the spot prices of gold were up by 1.19 percent at $3,055.64 per ounce. This marked as the 17th time it hit a record high this year.

IAG is a leading gold producer with assets across Canada and West Africa. The company fully owns the Westwood project in Quebec, holds a 60 percent stake in the Côté Gold project in Ontario, and controls 90 percent of Essakane in Burkina Faso.

For this year, it targets gold production to hit between 735,000 and 820,000 ounces, focusing on maximizing Côté Gold’s potential.

5. Rivian Automotive Inc. (NASDAQ:RIVN)

Shares of Rivian Automotive grew by 7.6 percent on Thursday to end at $13.02 apiece amid investor hopes for the expansion of its micromobility business.

In a statement, RIVN said it secured $105 million worth of investment from Eclipse Ventures for its newly spun-out business called Also Inc., which will focus on the development of small and lightweight vehicles.

“For the world to fully transition to electrified transportation, a range of vehicle types and form factors will be needed,” said Rivian Founder and CEO RJ Scaringe. “I am extremely excited about the innovations developed by the Also team that will underpin a range of highly compelling micromobility products that will help define new categories.”

As part of its expansion program, RIVN said it would continue to make significant progress toward the launch of R2, a five-seater SUV designed for the adventurous. It said it expects customer deliveries to begin in the first half of 2026.

4. Dollar Tree Inc. (NASDAQ:DLTR)

Dollar Tree rose for a second day on Thursday, adding 11.18 percent to its valuation to end at $76.95 apiece as investors resumed bargain-hunting following announcements that it was divesting its struggling business unit for $1 billion.

According to the company, it inked an agreement with Brigade Capital Management and Macellum Capital Management for the sale of Family Dollar for $1 billion. Albeit an 88-percent discount from the $8.5 billion it allocated in 2015 to acquire the business, the sale is expected to unlock value for DLTR shareholders and position Family Dollar for future success.

“Under the experienced, dynamic leadership of Family Dollar President Jason Nordin, and with the financial support of Brigade and Macellum, Family Dollar will be well-positioned for growth as a private company. With the support of a dedicated team, Family Dollar will be able to strengthen its commitment to providing affordable and essential goods to customers so they can do more with less,” said DLTR CEO Mike Creedon.

The transaction is expected to close in the second quarter of the year.

3. Avis Budget Group Inc. (NASDAQ:CAR)

Avis Budget surged by 20.49 percent on Thursday to end at $74.16 apiece on investor confidence that its core car rental business would benefit from the imposition of a 25-percent tariff on new cars manufactured outside the US.

Earlier this week, President Donald Trump announced that the US would begin to impose a 25-percent levy on all vehicles made outside the US beginning April 2.

In a report by Reuters, Stock Trader Network chief strategist Dennis Dick said that rental companies will actually benefit from the tariffs “because if car prices are going to go up, maybe some people who are like, ‘You know what? I don’t travel that much. I’ll just rent a car.”

“You get a little bit of a short squeeze here too and that’s really, really kickstarting this rally,” he added.

JP Morgan also posted confidence that some automotive parts and services firms could benefit from the new tariff announcements as consumers are likely to hold on to existing cars longer than usual, with repair frequency and size both benefiting the sector.

2. Soleno Therapeutics Inc. (NASDAQ:SLNO)

Soleno Therapeutics jumped by 37.61 percent on Thursday to end at $67.39 apiece as investors cheered news that it secured the approval of the Food and Drug Administration (FDA) for its diazoxide cholin—to be called Vykat XR—which aims to treat extreme hunger in patients with Prader-Willi syndrome.

The syndrome is a rare genetic disorder caused by abnormalities in chromosome 15. Its symptoms include low muscle tone, developmental delays, and behavioral challenges.

Meanwhile, extreme hunger poses a threat to people with the syndrome and can lead to severe obesity and associated health complications.

FDA’s approval followed a three-month delay after the agency classified responses from Soleno as a “major amendment” to its new drug application, requiring additional time to review.

1. Concentrix Corporation (NASDAQ:CNXC)

Concentrix extended its winning streak for a fourth straight day on Thursday, soaring 42.38 percent to finish at $65.04 apiece following a strong earnings performance in the first quarter ending February 2025.

In a statement, CNXC said net income jumped by 35 percent to $70.2 million in the last quarter from the $52 million registered in the same period a year earlier.

Revenues, however, decreased by 1 percent to $2.37 billion from $2.4 billion year-on-year.

For the next quarter, CNXC said it expects revenues to settle between $2.37 billion and $2.39 billion, and between $9.49 billion and $9.63 billion for the full year.

“Our first quarter results demonstrate our progress as we win quality business and take advantage of GenAI opportunities, leveraging our unique technology and service capabilities to drive our clients’ success,” said CNXC President and CEO Chris Caldwell. “With a solid start to the year, we remain on track to deliver ongoing constant currency revenue growth, while expanding margins and growing free cash flow in 2025 and beyond.”

While we acknowledge the potential of CNXC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CNXC but trades at less than 5 times its earnings, check out our report about the 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 address below.