Ten stocks started the trading week jumping by double-digits and mirroring the highly optimistic broader market, thanks to the US and Iran’s deal to end the war.
Wall Street’s three major indices all finished higher, with the Nasdaq leading gains by 3.07 percent, followed by the S&P 500 jumping 1.65 percent, and the Dow Jones, up 0.92 percent.
Indices aside, we explore the 10 top-performing stocks on Monday and break down the reasons behind their gains.
To come up with the list, we considered the stocks with a market capitalization of $2 billion and 5 million shares in trading volume.
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10. D-Wave Quantum Inc. (NYSE:QBTS)
D-Wave Quantum saw its share prices climb by 12.37 percent on Monday to close at $26.26 apiece, mirroring a wider market optimism, while investors increased their exposure in industries with rosy long-term prospects.
The stock climbed alongside its counterparts, helped primarily by rosy prospects for the sector after the US government last month announced $2 billion in funding support to accelerate the country’s leadership in quantum computing.
D-Wave Quantum Inc. (NYSE:QBTS) was among the nine named beneficiary companies, with a $100 million in funding from the Department of Commerce to help finance its critical advancements in annealing and gate-model superconducting quantum computing systems, including qubit counts, error rates, and coherence through advanced dielectric material optimization, interface control, and high-density advanced packaging.
The government backing was ultimately aimed at supporting the US government’s goal to become the leader in quantum computing.
Additionally, investors positioned their portfolios ahead of the two-day Bank of America Transforming World Conference on Tuesday and Wednesday, June 16 and 17, where investors expect key quantum computing players to announce updates about their businesses and outlooks.
It was unclear, however, whether D-Wave Quantum Inc. (NYSE:QBTS) would participate in the event, albeit its counterparts have already announced participation.
9. Hims & Hers Health Inc. (NYSE:HIMS)
Hims & Hers rallied by 12.49 percent on Monday to finish at $30.17 apiece, as investors cheered rosy growth prospects for the obesity market, alongside its efforts to bridge the gap between the rapidly increasing demand for weight-loss care and the limited capacity of traditional healthcare systems to serve it at scale.
In a health summit conducted last week, Hims & Hers Health Inc. (NYSE:HIMS) Chief Medical Officer Craig Primack highlighted the strong need for obesity to be treated with the same urgency as other chronic diseases.
“[Around] 64 percent of UK adults are overweight or living with obesity, but NHS specialist weight management services are so overwhelmed that waiting lists have closed entirely across multiple regions, and where services remain open, the average wait is two to three years. This isn’t a UK-specific problem. Traditional health systems around the world, the US included, were not designed to absorb this level of demand,” Primack underscored.
“What we’ve built at Hims & Hers helps remove that friction. Medication, nutritional coaching, activity guidance, and clinical support, all in one place, on the patient’s schedule. Those aren’t small details. They’re what can turn a treatment plan into a lasting outcome,” he noted.
Hims & Hers Health Inc. (NYSE:HIMS) currently offers FDA-approved obesity and weight loss treatments, Wegovy and Ozempic, under an ongoing partnership with Novo Nordisk.
“The gap between the scale of the obesity epidemic and the capacity of traditional care systems is not closing on its own. Closing it will require clinical rigor, genuine accessibility, and the kind of sustained support that keeps patients in treatment long enough for it to change their lives. That is what Hims & Hers is building,” Primack said.
8. Applied Optoelectronics Inc. (NASDAQ:AAOI)
Applied Optoelectronics ended two straight days of losses on Monday, surging 13.31 percent to end at $191.55 apiece, mirroring the rally in the broader market, while investors poured funds back into industries riding the AI boom.
The stock mimicked the steep rally in Nasdaq, jumping 3.07 percent, after the US and Iran officially announced the end of a four-month-long war and the reopening of the Strait of Hormuz.
The news immediately dragged prices of oil and gas products, which have since been benefiting from the war, due to supply constraints and logistics bottlenecks.
Meanwhile, optimism for Applied Optoelectronics Inc. (NASDAQ:AAOI) was further supported by Nvidia Corp. CEO Jensen Huang’s validation of the sector, saying that the right strategy “is to scale up with copper as long as you can. After that, you scale up further with optics.”
“You scale out with optics, and you scale across with optics. So you use optics wherever you must, you use copper wherever you can,” he noted.
Apart from Huang, investment firm Rosenblatt also issued a highly optimistic outlook for the optics sector, saying that it expects key players to expand production capacities by approximately 12x through 2030 to support the growing demands from AI. It noted, however, that the expansion rate will remain slower than the rapid demand growth from AI.
Rosenblatt noted that last year alone, the supply of indium phosphide-based Datacom components lagged by 50 percent. However, this gives room for huge growth and expansion opportunities for key players such as Applied Optoelectronics Inc. (NASDAQ:AAOI).
For its part, Applied Optoelectronics Inc. (NASDAQ:AAOI) is underway with the expansion of its new manufacturing facility in SugarLand, Texas, as it aims to support the growing needs of its customers.
The company initially programmed $150 million in capital expenditures for the site development, and later doubled it to $300 million by the end of 2027.
7. X-Energy Inc. (NASDAQ:XE)
X-Energy saw its share prices increase by 13.50 percent on Monday to end at $21.10 apiece, mirroring the broader market optimism and Cathie Wood’s increased exposure to its stock.
Last week, Wood’s global asset management, ARK Invest, announced that it increased its stake in X-Energy Inc. (NASDAQ:XE), alongside companies namely Kodiak AI, Pony AI, and DoorDash.
Meanwhile, it trimmed its ownership in Pacific Biosciences, Recursion Pharmaceuticals, Twist Bioscience, and 10x Genomics, among others.
X-Energy Inc. (NASDAQ:XE) also jumped alongside the wider market after the US and Iran announced the official end to a four-month war and the reopening of the Strait of Hormuz.
The news sparked renewed optimism, with investors rotating into stocks tied to long-term growth such as AI, energy, semiconductor, nuclear, and quantum computing, among others.
In other news, X-Energy Inc. (NASDAQ:XE) earlier this month said that it sought the approval of the United Kingdom’s Generic Design Assessment for its Xe-100 High Temperature Gas-Cooled Reactor. Subject to acceptance, the approval would support the company’s plan with Centrica to deploy up to 6 GW of new nuclear in the UK.
Its latest submission builds on its US licensing progress and is expected to further benefit from expanded collaboration between ONR and the US Nuclear Regulatory Commission that allows for direct transfer of design documentation and safety analyses. This would allow applicants to leverage NRC-approved technical documents throughout the assessment, creating opportunities for enhanced efficiency in the UK’s licensing process.
6. Wolfspeed Inc. (NYSE:WOLF)
Wolfspeed saw its share prices climb by 13.79 percent on Monday to close at $49.09 apiece, mimicking optimism in the overall market after the US and Iran officially reached a deal to end the war.
Investors appeared to have increased their exposure in companies and industries riding the AI boom, such as semiconductors, among others.
In other developments, Wolfspeed Inc. (NYSE:WOLF) last week unveiled the fifth generation of its Silicon Carbide (SiC) MOSFETs, which was able to achieve up to 27 percent efficiency improvement over the currently available competitive 1200 V solutions.
The Gen 5 technology was designed to address various issues being faced by automotive OEMs, with vehicle cost, safety, mileage range, and charging infrastructure availability remaining a barrier to broader consumer adoption of EVs.
“Wolfspeed’s Gen 5 technology was designed to holistically address those barriers and sets a new benchmark for specific on-resistance (RSP)—a core figure of merit for efficiency relative to the MOSFET’s active die area. Gen 5 products enable system architects to design more compact traction inverters and improve mileage per charge and right-size costly EV batteries. They also unlock new SiC opportunities by replacing mechanical relays with solid-state circuit breakers and set new efficiency standards for EV charging infrastructure. The benefits extend well beyond automotive, with applications like industrial power supplies equally positioned to take advantage of the Gen 5’s uncompromised switching performance,” Wolfspeed Inc. (NYSE:WOLF) said.
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