Ten stocks kicked off the trading week with strong gains, bucking a lackluster performance on the broader market, thanks to a flurry of positive industry news that spilled over to their stocks. Of the 10 in the list, five notably hit new record highs.
Among Wall Street’s three major indices, only the Dow Jones finished in the green, up 0.29 percent. The Nasdaq and the S&P 500, on the other hand, declined by 1.32 percent and 0.37 percent, respectively.
In this article, we spotlight the 10 top-performing stocks on Monday and break down the reasons behind their gains.
Our list exclusively considered the stocks with a market capitalization of $2 billion and 5 million shares in trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. Innio NV (NASDAQ:INIO)
Innio saw its share prices climb to a fresh high on Monday, as investors positioned their portfolios amid the rosy prospects for its business, thanks to the rapidly growing artificial intelligence industry.
Innio NV (NASDAQ:INIO)—which only joined the roster of publicly listed companies on June 8—has already seen its stock price climb to as much as 27 percent since its IPO, amid a combination of strong demand for energy from the power-hungry AI data centers, alongside optimism from market analysts.
Mad Money host and former hedge fund manager Jim Cramer, for his part, recommended buying Innio NV (NASDAQ:INIO) shares, saying that the company is similarly a “hostage to AI.”
“Until we see a slowdown in the great data center buildout, and I don’t think we’re going to, I am not fretting it. Here’s the bottom line: I think Innio is worth owning here. And while I prefer you wait for a pullback to pull the trigger, it wouldn’t be crazy to put on a small position, at least right here, right now,” Cramer said.
Innio NV (NASDAQ:INIO) joined the stock market without raising any funds, with 90 million of its shares sold during the IPO fully raised by its existing shareholders for a total of $2.43 billion.
Backed by Advent and ADIA, it is a global distributed energy solutions provider that commits to delivering reliable, flexible, transient, decentralized, modular, and efficient power through the design, manufacture, and service of high-performance power systems under its Jenbacher and Waukesha brands.
The company delivers power for applications including data centers, microgrids, grid stabilization, industrial energy, and gas compression.
9. T1 Energy Inc. (NYSE:TE)
T1 Energy saw its share prices jump by 11.23 percent on Monday to close at $10.40 apiece as investors loaded up on its shares following its official inclusion in the S&P Semiconductors Select Industry Index.
On the same day, June 22, the S&P Dow Jones Indices named T1 Energy Inc. (NYSE:TE) as one of the companies added to the S&P Semiconductors Select Industry, sparking significant buying demand among investors.
Companies being added to or removed from benchmark indices typically see a significant movement in their share prices as exchange-traded funds tracking them would need to rebalance their portfolios to mirror their composition.
This also provided higher exposure for its stock across global retail and institutional investors.
In other news, T1 Energy Inc. (NYSE:TE) recently earned a market perform rating from investment firm Bernstein, alongside a $9 price target for its stock. The figure was 13 percent lower than its latest closing price.
Bernstein said that the coverage reflected its position on T1 Energy Inc.’s (NYSE:TE) outcomes tied to its second manufacturing facility buildout, the contracting backdrop, and an unresolved patent dispute with First Solar Inc.
8. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)
Credo Technology rallied to a fresh all-time high on Monday, as investors took heart from an investment firm’s bullish coverage for its stock amid further rosy prospects from AI.
In intra-day trading, the stock jumped to its highest price of $308.67 before paring gains to end the session just up by 11.29 percent at $302.52 apiece.
In a market note during the day, BNP Paribas said that it expects Credo Technology Group Holding Ltd. (NASDAQ:CRDO) to continue benefitting from the artificial intelligence buildout amid its copper and optical interconnects.
“We continue to view Credo as a key beneficiary of hyperscalers adopting innovations in copper and optical interconnects for both scale-out and scale-up backend networks, as well as frontend network deployments driven by agentic AI,” BNP said.
“Indeed, we believe [active electrical cables], ZF optical transceivers, silicon photonics, Active LED Cables, and OmniConnect gearboxes expand Credo’s [total addressable market] to over $10 billion, or 3x from Credo’s opportunity just 18 months ago,” it noted.
However, BNP issued a price target of $275 on shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO), lower by 9 percent than its closing price on Monday.
It said that the company is increasingly diversifying its customer base, with 3-4 10 percent hyperscale customers expected in full-year 2027.
“We also expect Neoclouds to approach 20 percent of sales over time. Credo initiated that they are involved with 5 of 6 hyperscalers, which we believe are Amazon, Meta, Microsoft, xAI, and Oracle.”
7. Precigen Inc. (NASDAQ:PGEN)
Precigen rallied for a second day on Monday, surging 11.62 percent to end at $5.38 apiece, as investors loaded portfolios ahead of the end of the second quarter, with optimism for the period boosted by the orphan drug exclusivity of its therapy for recurrent respiratory papillomatosis (RRP).
Late last month, Precigen Inc. (NASDAQ:PGEN) secured a six-year approval from the Food and Drug Administration (FDA) to exclusively treat RRP in the US through its therapy, Papzimeos.
Orphan drug exclusivity is granted to certain drugs and biologics approved for rare diseases or conditions that affect fewer than 200,000 people in the United States, and will benefit Precigen Inc. (NASDAQ:PGEN) until August 14, 2032.
“This regulatory exclusivity, together with Precigen’s patent portfolio covering Papzimeos and its therapeutic use, enhances the product’s value by strengthening market protection and long-term revenue potential, which in turn supports continued innovation for rare diseases,” Precigen Inc. (NASDAQ:PGEN) President and CEO Helen Sabzevari earlier said.
6. Viavi Solutions Inc. (NASDAQ:VIAV)
Viavi Solutions rebounded by 12.23 percent on Monday to close at $52.94 apiece, as investor sentiment was boosted by its official inclusion in a benchmark index.
Earlier this month, the S&P Dow Jones Indices announced the inclusion of five companies in the S&P MidCap 400, including Viavi Solutions Inc. (NASDAQ:VIAV). Other companies include Sanmina, Semtech, Coeur Mining, and Roku. The recomposition took effect on the same day, June 22.
Meanwhile, the S&P Dow Jones Indices dropped Flex, BellRing Brands, Coty, Concentrix, and Blackbaud from the same group.
Companies added to or removed from benchmark indices typically see a significant movement in their share prices as exchange-traded funds tracking the indices would need to rebalance their portfolios to mirror their composition.
In other developments, the rally can also be partly attributed to Viavi Solutions Inc.’s (NASDAQ:VIAV) announcement last week that its Xgig platform for PCI Express 6.0 specification testing has achieved Gold Suite acceptance from PCI-SIG.
The recognition enables the platform to be used for PCIe 6.0 link and transaction protocol compliance testing at PCI-SIG compliance workshops worldwide.
“Designed to support AI workloads and other high-performance computing applications, PCIe 6.0 specification delivers faster, more dependable data transfer, driving greater overall efficiency,” Viavi Solutions Inc. (NASDAQ:VIAV) SVP and General Manager for Lab Production Tom Fawcett said.
“Compliance testing remains a cornerstone of PCI-SIG’s standards development, and we look forward to continuing to support its members in upcoming compliance workshops.”
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