Ten stocks kicked off the trading week boasting double-digit gains, mirroring a broader market rally, on the back of company-specific developments.

On Wall Street, the Nasdaq led gains with 2.69 percent, followed by the S&P 500 with 1.55 percent, and the Dow Jones, up 0.44 percent.

In this article, we name the 10 top performers on Monday and break down the reasons behind their gains.

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

10. WeRide Inc. (NASDAQ:WRD)

WeRide saw its share prices grow by 14.72 percent on Monday to close at $8.26 apiece as investors cheered its strong performance in the third quarter of the year.

In an updated report, WeRide Inc. (NASDAQ:WRD) said it narrowed its net loss attributable to shareholders by 70 percent to 307 million yuan from 1.04 billion yuan in the same period last year.

Revenues, on the other hand, increased by 144 percent to 170.98 million yuan from 70 million yuan in the same comparable period, primarily driven by its continued global fleet expansion and increasing service penetration.

Of the total, revenues from products and services soared by 428 percent and 66.9 percent, respectively.

As of the third quarter, WeRide Inc. (NASDAQ:WRD) now operates more than 1,600 vehicles, of which nearly 750 are robotaxis.

It was also able to expand into eight countries, the latest being Switzerland, after securing the latter’s driverless permit approval just this month, authorizing it to operate autonomously on public roads in the Furttal region in the Canton of Zurich.

9. IREN Ltd. (NASDAQ:IREN)

IREN Ltd. snapped a three-day losing streak on Monday, jumping 14.74 percent to close at $48.49 apiece, as investors took heart from an investment firm’s higher price target for its stock.

In a market note on the same day, IREN Ltd. (NASDAQ:IREN) earned a new price target of $39 from JPMorgan, or a 39 percent jump from its previous fair value assessment of $28.

The new price, however, was 19 percent lower than its latest closing price.

The revision reflected JPMorgan’s optimism for the overall high-performance computing (HPC) sector, having similarly upgraded IREN Ltd.’s (NASDAQ:IREN) counterparts, namely CleanSpark and Cipher Mining.

In other news, IREN Ltd. (NASDAQ:IREN) earlier this month received a higher price target of $70 from Canaccord Genuity, versus $42 previously.

Canaccord’s price target marked a 44 percent upside potential from IREN Ltd.’s (NASDAQ:IREN) latest closing price.

In other news, IREN Ltd. (NASDAQ:IREN) swung to a net income of $384.6 million in the first quarter of fiscal year 2026 from a $51.7 million net loss in the same period last year.

Revenues jumped by 355 percent to $240.3 million from $52.8 million year-on-year.

8. Celestica Inc. (NYSE:CLS)

Celestica rebounded by 15.17 percent on Monday to close at $322.54 apiece as investors resorted to bargain-hunting after falling back to the $200 territory last week.

Last Friday, Celestica Inc. (NYSE:CLS) dropped to its lowest price in November—at $263.08—but ended the session slightly higher at $280.06. The previous session provided an opportunity for investors to load up portfolios at a bargain.

In other news, Celestica Inc. (NYSE:CLS) saw its net income in the third quarter of the year soar by 199 percent to $267.8 million from $89.5 million in the same period last year.

Revenues jumped by 27.8 percent to $3.194 billion from $2.499 billion year-on-year, hitting the high-end of its guidance range.

Additionally, Celestica Inc. (NYSE:CLS) raised its revenue growth outlook for the full-year 2025, now to $12.2 billion from $11.55 billion previously.

Non-GAAP adjusted EPS is now targeted at $5.90, higher than the $5.50 previously.

“Furthermore, we are announcing our 2026 annual outlook with revenue of $16 billion, and non-GAAP adjusted EPS of $8.20, representing growth of 31 percent and 39 percent, respectively. The demand outlook from our largest customers, who continue to make significant investments in AI data center infrastructure, remains strong, supporting our 2026 annual outlook with indications of these dynamics continuing into 2027,” the company said.

7. BigBear.ai Holdings Inc. (NYSE:BBAI)

BigBear ended three straight days of losses on Monday, climbing 16.02 percent to close at $6.26 apiece as investors cheered its expansion into Malaysia following a partnership for the development of advanced technologies to support the Pahang Aerospace City (PAC).

In a statement late last week, BigBear.ai Holdings Inc. (NYSE:BBAI) said it signed a strategic memorandum of understanding with Pahang Aerospace City Development Berhad and its established partners, Easy Lease, and Vigilix Technology Investment LLC, to ramp up the development and integration of advanced technologies throughout the aerospace city.

In particular, BigBear.ai Holdings Inc. (NYSE:BBAI) would focus on AI-driven border operations to help advance regional and international security.

PAC is a national transit hub for air, land, and sea modes of passenger travel. The development is expected to attract further significant domestic and foreign investment, strengthening Malaysia’s aerospace and support industries, while enabling the establishment of the region’s first international spaceport.

“By integrating mission-ready AI, predictive analytics, and secure orchestration technologies, together we can help Malaysia build a first of its kind aviation, transit, and space ecosystem that strengthens both national economic growth and regional security. This collaboration represents an exciting step forward for innovation and for BigBear.ai’s engagement in Southeast Asia,” said BigBear.ai Holdings Inc. (NYSE:BBAI) CEO Kevin McAleenan.

6. Lumentum Holdings Inc. (NASDAQ:LITE)

Lumentum Holdings rallied for a second day on Monday, jumping 17.13 percent to close at $299.36 apiece as investor sentiment was boosted by an investment firm’s higher price target for its stock.

In a market note on Monday, Needham raised its price target for Lumentum Holdings Inc. (NASDAQ:LITE) to $290 from $235 previously, while maintaining its “buy” recommendation for the stock.

According to Needham, Lumentum Holdings Inc. (NASDAQ:LITE) stands to become a key supplier in the AI optical segment amid the strong demand for its products.

“Within its Datacom segment, EML chip production for the global XCVR market has been capacity-constrained and on allocation through CY25,” Needham said.

“Management has pointed to industry estimates for the high-speed (400G to 1.6T) XCVR market sustaining 30%+ CAGR from 2023 to 2028. Its acquired Cloud Light XCVR products are now shipping to all 3 hyperscaler customers, and LITE plans to eventually integrate its in-house CW lasers,” it added.

“We expect Lumentum will deliver improved results across top line, margins, income, and cash flow, and shares should continue to trend higher as major segments hit stride,” the investment firm said.

5. Cipher Mining Inc. (NASDAQ:CIFR)

Cipher Mining bounced back from two days of losses on Monday, jumping 18.09 percent to close at $16.71 apiece as investors took heart from JPMorgan’s bullish coverage for its stock.

In a market note on the same day, JPMorgan upgraded its price target for Cipher Mining Inc. (NASDAQ:CIFR) to $18, implying a 7.7 percent upside potential from its latest closing price.

“Cipher shares have declined ~45 percent from recent highs just a few weeks ago, presenting a nice entry point for one of the top operators within our coverage universe with ~600 MW of gross capacity contracted to high-quality HPC tenants (AWS and Fluidstack, backed by Google),” JPMorgan said.

“Additionally, we think Cipher is well positioned to sign additional deals at other approved sites (e.g. Stingray, 100 MW), which could drive additional medium-term upside,” it added.

Earlier this month, Cipher Mining Inc. (NASDAQ:CIFR) bagged a new $5.5 billion, 15-year high-performance computing (HPC) lease agreement with Amazon Web Services (AWS) for the delivery of some 300 MW of computing capacity starting in 2026.

The capacity would be delivered in two phases, in July and in the fourth quarter of the year, while the lease contract would commence in August 2026.

In other developments, Cipher Mining Inc. (NASDAQ:CIFR) announced stellar earnings performance in the last quarter, with net loss narrowing by 96 percent to $3.28 million from $86.75 million in the same period last year.

Operating loss also shrank by 59 percent to $37.6 million from $91.4 million year-on-year.

4. CleanSpark, Inc. (NASDAQ:CLSK)

CleanSpark snapped a three-day losing streak on Monday, surging 17.99 percent to close at $11.48 apiece as investors took path from an investment firm’s bullish coverage for its stock.

In a market note on the same day, the investment firm raised its rating for CleanSpark, Inc. (NASDAQ:CLSK) to “overweight” from “neutral” with a price target of $14, marking a 21.9 percent upside potential from its latest closing price.

JPMorgan said that the upgrade took into account CleanSpark, Inc.’s (NASDAQ:CLSK) recent acquisition of a 271-acre land in Austin, Texas, which would support its existing 285 MW power supply agreements with AI companies.

CleanSpark, Inc. (NASDAQ:CLSK) already kicked off the construction of a new substation for the project after securing the long lead-time items. Development would be implemented in phases to support AI workloads as the company continues to expand its digital infrastructure platform.

Energization of more than 200 MW is expected in the first half of 2027.

In other news, CleanSpark, Inc. (NASDAQ:CLSK) is set to release the results of its earnings performance for the full fiscal year 2025 after market close on Tuesday, November 25.

3. Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR)

Bitmine snapped a three-day losing streak on Monday, jumping 19.62 percent to close at $31.10 apiece as investors took heart from its acquisition of more Ethereum coins to bring its total ownership to $10.3 billion.

In an updated report, Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) said that it acquired 69,822 new Ethereum tokens last week, bringing its total ownership to 3.6 million as of November 23, and achieving its target of hitting 3 percent of the token’s total supply. Its Ethereum tokens carry an average price of $2,840 apiece.

Apart from Ethereum, Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) also owns 192 Bitcoins, maintains a $38 million stake in Worldcoin-focused Eightco Holdings, as well as unencumbered cash amounting to $800 million.

“The continued decline in crypto prices in the past week reflects the impaired liquidity since October 10th, as well as price technicals, which remain weak. A few weeks ago, we noted the likely downside for ETH prices would be around $2,500 and current ETH prices are basically there. This implies asymmetric risk/reward as the downside is 5% to 7%, while the upside is the supercycle ahead for Ethereum,” said Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) Chairman Thomas Lee.

2. Oscar Health Inc. (NYSE:OSCR)

Oscar Health extended its gains for a second day on Monday, jumping 22.33 percent to close at $16.49 apiece as investors took heart from reports that President Donald Trump would implement an extension of the Affordable Care Act (ACA) for another two years.

According to news outlets, Trump was mulling over an extension to the December deadline, but he would cap the eligibility of individuals with income up to 700 percent of the federal poverty line.

The news sparked rosy prospects for listed insurers, including Oscar Health Inc. (NYSE:OSCR), as it could support stability and help insurance companies maintain lower ACA offerings to customers.

Without the ACA, insurance premiums for some 22 million Americans are expected to more than double by early next year.

In other news, Oscar Health Inc. (NYSE:OSCR) announced the results of its earnings performance in the third quarter of the year, where it widened its net loss attributable to shareholders by 152 percent to $137 million from $54.60 million in the same period last year.

Revenues, on the other hand, increased by 23 percent to $2.98 billion from $2.42 billion year-on-year, on the back of higher membership.

1. Ondas Holdings Inc. (NASDAQ:ONDS)

Ondas Holdings rallied for a second day on Monday, soaring 29.47 percent to close at $8.72 apiece as investors placed bets following news that it invested $35 million in advanced robotics company, Performance Drone Works.

In a statement late last week, Ondas Holdings Inc. (NASDAQ:ONDS) said that the investment would support and address a broad set of critical missions to empower warfighters with targeting capabilities, enhance surveillance and sensing technology, as well as force protection.

In line with the initiative, Ondas Holdings Inc. (NASDAQ:ONDS) would ramp up production of its in-demand systems, namely C100 and AM-FPV platforms; add new engineering jobs to accelerate product development; and acquire critical components.

Ondas Holdings Inc. (NASDAQ:ONDS) recently secured a $20.9 million contract with the US Army for the supply of its C100 UAS and Multi-Mission Payloads (MMP) in support of the agency’s “Transformation in Contact” initiative.

In other news, Ondas Holdings Inc. (NASDAQ:ONDS) recently completed the acquisition of Sentrycs CS Ltd., an Israel-based global leader in Cyber-over-RF (CoRF) and Protocol-Manipulation counter-UAS technology.

Sentrycs’ proprietary CoRF technology identifies, tracks, and takes control of unauthorized drones with high precision, without jamming, spoofing, or disrupting surrounding communications networks.

Its solutions are deployed across defense, public safety, aviation, and critical infrastructure markets. It currently has 200 global deployments across 25 countries to date.

While we acknowledge the potential of ONDS 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 ONDS and that has 100x upside potential, check out our report about this 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 fund investor letters by entering your email below.