Ten companies soared by double digits on Tuesday, mirroring the rally on Wall Street, fueled by a combination of macroeconomic developments and strong corporate earnings. Of the 10 firms, five notably climbed to fresh 52-week highs.
Meanwhile, the three major indices all finished in the green, led by Nasdaq with a 0.80 percent gain. The Dow Jones and the S&P 500 eked out 0.34 percent and 0.23 percent, respectively.
In this article, we focus on Tuesday’s 10 top performers and break down the reasons behind their gains.
To compile the list, we focused on companies with a market capitalization exceeding $2 billion and a trading volume of at least 5 million shares.
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10. Denison Mines Corp. (NYSEAMERICAN:DNN)
Denison Mines bounced back by 10.43 percent on Tuesday to close at $3.07 apiece as investors hunted for uranium stocks after the US government announced an $80 billion investment aimed at unleashing the country’s energy sector.
During the session, Denison Mines Corp. (NYSEAMERICAN:DNN) piggybacked on optimistic sentiment for the nuclear industry following the US government’s partnership with Cameco Corp., Brookfield Asset Management, and Westinghouse Electric Company to accelerate the deployment of nuclear power through the development of new reactors across the US.
The country’s nuclear development sparks good news for uranium producers, such as Denison Mines Corp. (NYSEAMERICAN:DNN), as it would spark higher demand in uranium products to power nuclear facilities.
Denison Mines Corp. (NYSEAMERICAN:DNN) rallied alongside its counterparts, namely NexGen Energy, Uranium Energy, and Energy Fuels, among others.
9. Pony AI Inc. (NASDAQ:PONY)
Pony AI rallied for a third straight day on Tuesday, jumping 11.13 percent to end at $21.87 apiece following the official filing of an initial public offering in Hong Kong, which could help the company raise as much as $1 billion in fresh funds.
In a statement, Pony AI Inc. (NASDAQ:PONY) said that it would issue more than 41.95 million shares for a global offering, comprising 4.19 million shares to be offered to Hong Kong investors, alongside 37.76 million shares for an international offering.
Depending on the demand, Pony AI Inc. (NASDAQ:PONY) could exercise a full overallotment option of up to 7.2 million additional shares.
The offer price would be set not more than HK$180 ($23.17) apiece, with the final price to be determined on November 3, 2025.
The shares will be traded under the stock code “2026” and in board lots of 100 shares.
According to the firm, proceeds from the offer will be used to carry out its Level 4 autonomous driving technology in its key addressable markets, while the balance will be allocated for research and development, and other general corporate purposes.
In line with the offer, Pony AI Inc. (NASDAQ:PONY) already secured $120 million worth of cornerstone investments from institutional investors, including $100 million from Uber Technologies Inc.
8. NexGen Energy Ltd. (NYSE:NXE)
NexGen Energy saw its share prices jump by 12 percent on Tuesday to close at $9.52 apiece as investor sentiment was bolstered by the US government’s $80 billion investment aimed at unleashing the country’s energy sector.
During the session, NexGen Energy Ltd. (NYSE:NXE) rallied alongside its uranium counterparts, namely Denison Mines, Uranium Energy, and Energy Fuels, piggybacking on the US government’s billion-dollar partnership with Cameco Corp., Brookfield Asset Management, and Westinghouse Electric Company to accelerate the deployment of nuclear power in the US.
Investors turned optimistic that the partnership would spill over to NexGen Energy Ltd.’s (NYSE:NXE) business and other uranium stocks, as more nuclear reactors could spark further demand in uranium products.
In other recent news, NexGen Energy Ltd. (NYSE:NXE) successfully raised as much as A$1 billion from the issuance of new shares through a global offering. Proceeds were allocated for the development of the Rook I Project, the largest development-stage uranium project in Canada.
7. Uranium Energy Corp. (NYSEAmerican:UEC)
Uranium Energy jumped by 14.34 percent on Tuesday to finish at $15.23 apiece as investors gobbled up shares in uranium stocks following the US government’s $80 billion investment to unleash the American energy sector.
Uranium Energy Corp. (NYSEAmerican:UEC) rallied alongside its counterparts, Denison Mines, NexGen Energy, and Energy Fuels, after the Trump administration clinched a billion-dollar partnership with Cameco Corp., Brookfield Asset Management, and Westinghouse Electric Company to accelerate the deployment of nuclear power through the development of new reactors across the US.
Uranium companies stand to benefit from the development, with uranium fuel vital in running nuclear power plants.
In other news, Uranium Energy Corp. (NYSEAmerican:UEC) recently raised $30 million through the issuance of new shares. Proceeds from the offer were allocated for the development of a new, state-of-the-art American uranium refining and conversion facility through its wholly owned subsidiary, United States Uranium Refining & Conversion Corp., as well as for general corporate and working capital purposes.
6. TeraWulf Inc. (NASDAQ:WULF)
TeraWulf soared to a new all-time high on Tuesday, as investors cheered a new $9.5 billion deal with Fluidstack for the joint development of a new data center at the Abernathy campus in Texas.
In intra-day trading, TeraWulf Inc. (NASDAQ:WULF) jumped to its highest price of $17.05 before trimming gains to end the day just up by 16.86 percent at $15.94 apiece.
In a statement, TeraWulf Inc. (NASDAQ:WULF) said it partnered with Fluidstack to jointly develop a new facility capable of powering 168 MW of critical IT load to global AI hyperscalers. The former will hold a majority stake of 51 percent in the facility, while Fluidstack will own the remaining.
With a 25-year hosting commitment, the joint venture also has the right to develop subsequent phases at the Abernathy campus beyond the initial 168 MW, leveraging existing transmission and development infrastructure to support incremental high-density capacity additions.
Separately, TeraWulf Inc. (NASDAQ:WULF) said it secured the exclusive right to partner with Fluidstack for up to 51 percent of the next Fluidstack-led data center project capable of powering another 168 MW of critical IT load capacity on substantially similar commercial terms.
Following the transactions, TeraWulf’s contracted HPC platform now exceeds 510 MW of critical IT load, and supported the revised growth strategy targeting an additional 250 MW to 500 MW of contracted critical IT load per year, having already secured 510 MW of contracted critical IT load in the last 10 months.
5. Nokia Oyj (NYSE:NOK)
Nokia soared to a new all-time high on Tuesday after Nvidia Corp. announced a $1 billion backing and partnership with the company for the development of AI technologies and infrastructures to bolster 5G-advanced and 6G networks.
In intra-day trading, the stock soared to an all-time high of $8.19 before trimming gains to end the day just up by 22.84 percent at $7.77 apiece.
In a statement, Nvidia said that it would acquire $1 billion worth of shares in Nokia Oyj (NYSE:NOK) at a price of $6.01 apiece, and partner to integrate its commercial-grade AI-RAN products into the latter’s RAN portfolio, taking advantage of the $200 billion projected RAN market opportunity by 2030.
The partnership would enable communication service providers to launch AI-native 5G-Advanced and 6G networks on NVIDIA platforms and mark the beginning of an AI-native wireless era.
Together, NVIDIA and Nokia Oyj (NYSE:NOK) are also working on laying the foundation for strategic infrastructure and opening up a new high-growth frontier for telecom providers by delivering distributed edge AI inferencing at scale.
T-Mobile US will collaborate with Nokia and NVIDIA to drive and test AI-RAN technologies as a part of the 6G innovation and development process, reinforcing its global leadership in driving wireless innovation. Trials are expected to begin in 2026, focused on field validation of performance and efficiency gains for customers.
4. Wayfair Inc. (NYSE:W)
Wayfair soared to a new 52-week high on Tuesday, as investors cheered a stellar revenue performance in the third quarter of the year, suggesting strong consumer demand despite the threats of import tariffs.
In intra-day trading, Wayfair Inc. (NYSE:W) jumped to a new high of $108.44 before trimming gains to finish the session just up by 23.22 percent at $106.52 apiece.
This followed a surprise 8 percent revenue jump in the third quarter of the year to $3.117 billion from $2.884 billion in the same period last year.
Revenues from its US business alone rose by 8.6 percent to $2.7 billion, while those from its international operations grew by 4.6 percent to $389 million.
However, net loss widened by 34 percent to $99 million from $74 million in the same period last year.
Commenting on the performance, Wayfair Inc. (NYSE:W) CEO Niraj Shah said that the third quarter “was a great success.”
“As we’ve promised, substantial profitability flows through is powered by a strong contribution margin and fixed cost discipline as our business has returned to growth,” he noted.
3. Cameco Corp. (NYSE:CCJ)
Cameco climbed to a new 52-week high on Tuesday, as investors gobbled up shares following an $80 billion investment partnership with the US government and Brookfield Asset Management to support nuclear energy growth in the country.
In a statement, Cameco Corp. (NYSE:CCJ)—one of the largest uranium providers globally—said that the partnership would support the deployment of new reactors using Westinghouse technology across the US.
The deal was aimed at generating reliable and secure power to amid the growing energy demand of AI data centers.
The partnership contains profit-sharing mechanisms to all parties once certain thresholds are met.
“Our highly successful partnership with Brookfield … will be further strengthened through this collaboration with the US Government. We expect this new partnership to support the global growth opportunities for both Westinghouse’s and Cameco’s nuclear products, services, and technologies, adding significant long-term value for our stakeholders and enhancing energy, national, and climate security around the world,” said Cameco Corp. (NYSE:CCJ) CEO Tim Gitzel.
Apart from Cameco Corp. (NYSE:CCJ), optimism for the US government’s backing of the industry also spilled over to other listed uranium stocks.
2. Fermi Inc. (NASDAQ:FRMI)
Fermi rallied for a third straight day on Tuesday, as investors cheered its historic partnership deals with two South Korean companies to support the United States’ nuclear energy development.
In a statement, Fermi Inc. (NASDAQ:FRMI) said it inked a deal with Doosan Enerbility for the development of nuclear equipment such as reactor pressure vessels and steam generators to support Westinghouse Electric’s AP1000 reactor projects.
In addition, it also partnered with Hyundai Engineering & Construction for a major engineering contract for the design works for four AP1000 nuclear reactors under the Project Matador—a hypergrid energy campus currently under development, which is expected to power 11 GW of different sources of power such as natural gas, solar, nuclear, and battery.
“Working with our allies, who have successfully constructed multiple large-scale nuclear projects on time and on budget across the globe, is exactly the kind of expertise required for America to win this race,” Fermi Inc. (NASDAQ:FRMI) co-founder and CEO Toby Neugebauer said.
“Doosan Enerbility and Hyundai E&C have been waiting for an American company to stop power pointing about nuclear and start building it. Their firm commitment to Fermi America positions us for action, leveraging their track record of success to build clean, new nuclear power at the velocity and scale the President demands and the US requires,” he added.
1. Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT)
Arcutis jumped to a fresh record high on Tuesday, as investors cheered a stellar earnings performance in the third quarter of the year, having more than doubled its revenues to reach profitability during the period.
In intra-day trading, Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) jumped to its highest 52-week price of $25.75 before trimming gains to end the day just up by 27.04 percent at $24.95 apiece.
This followed announcements that it swung to a net profit of $7.4 million in the third quarter of the year from a $41.5 million net loss in the same period last year.
Total revenues soared by 121 percent to $99 million from $44.7 million in the same comparable period.
For the nine-month period, Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) remained at a net loss of $33.5 million, albeit 74 percent lower than the $129 million year-on-year.
Revenues, on the other hand, surged by 97 percent to $246 million from $125 million.
“This success provides a tremendous foundation for sustained, long-term growth—offering the opportunity to reinvest in the ZORYVE franchise, systematically evaluate new opportunities, and expand our pipeline with new molecules that leverage our deep expertise in dermatology, as well as our best-in-class development and commercialization capabilities,” said President and CEO Frank Watanabe.
For next year, Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) is targeting to generate between $455 million and $470 million in net revenues.
While we acknowledge the potential of ARQT 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 ARQT and that has 100x upside potential, check out our report about this cheapest AI stock.
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