Ten stocks kicked off the trading week, soaring by double digits on Monday, mirroring a broader market optimism as investors shrugged off market uncertainties while taking advantage of cheap prices from last week’s decline.
Notably, four of the companies on our list propelled to new all-time highs amid company-specific developments that boosted investing appetite.
Meanwhile, Wall Street’s main indices all finished in the green, with the Dow Jones up by 1.3 percent, the S&P 500 jumped by 1.5 percent, and the Nasdaq increased by 1.9 percent.
In this article, we highlight the companies that led the gains and break down the reasons behind their strong performance.
To compile the list, we focused on stocks with at least $2 billion in capitalization and more than 5 million shares in trading volume.
Stock market data. Photo by Photo by Alesia Kozik
10. Applied Digital Corp. (NASDAQ:APLD)
Applied Digital rebounded by 11.42 percent on Monday to close at $13.95 apiece, tracking an overall market optimism, supported by news of a billion-dollar revenue opportunity from its expanded collaboration with AI infrastructure giant CoreWeave Inc. (NASDAQ:CRWV).
Alongside its earnings release last week, Applied Digital Corp. (NASDAQ:APLD) announced that CoreWeave Inc. (NASDAQ:CRWV) exercised an option to add 150 MW of critical IT load capacity from the former, on top of the 250 MW signed earlier, effectively bringing the total capacity to 400 MW.
Applied Digital Corp. (NASDAQ:APLD) expects the expanded contract to rake in another $4 billion in revenues for a total of $11 billion.
The first 100 MW facility is scheduled to be operational in the fourth quarter of the year, to be followed by a 150 MW capacity in the middle of next year, and the third 150 MW in 2027.
Meanwhile, Applied Digital Corp. (NASDAQ:APLD) narrowed its net loss attributable to shareholders in the fourth quarter ending May 2025 by 16 percent to $53.9 million from $64.7 million in the same period last year. Total revenues increased by 41 percent to $38 million from $26.9 million year-on-year.
9. Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing saw its share prices jump by 11.61 percent on Monday to finish at $15.76 apiece after earning a bullish rating and a higher price target from an investment firm.
In its market note, Needham raised its price target for Rigetti Computing, Inc. (NASDAQ:RGTI) to $18 from $15 previously, while maintaining a “buy” recommendation for its stock on strong confidence for the overall quantum computing industry.
In particular, the investment firm was on a wait-and-see mode for government programs, namely the DARPA’s Quantum Benchmark Initiative (QBI) which aims to assess whether quantum devices would deliver more value than their cost over the next eight years; and the proposed Quantum Leadership Act of the Department of Energy which would program some $2.5 billion in capital expenditures over the next five years to boost quantum research.
Needham said both initiatives could unlock new research funding and commercial opportunities for the industry.
8. SharpLink Gaming, Inc. (NASDAQ:SBET)
SharpLink Gaming snapped two straight days of losses on Monday, jumping 11.67 percent to close at $19.14 apiece as investors cheered its new round of Ethereum (ETH) acquisition that effectively raised its holdings to nearly $2 billion.
According to a post by @Lookonchain on X, SharpLink Gaming, Inc. (NASDAQ:SBET) acquired an additional 18,680 ETH for a total of $66.63 million. However, it was unseated by Bitmine Immersion Technologies as the largest ETH holder globally.
SharpLink Gaming, Inc.’s (NASDAQ:SBET) recent purchase followed its successful at-the-market facility two weeks earlier that saw the company raise as much as $279.2 million in net proceeds. The fundraising program forms part of the $1 billion share sale as earlier announced for the acquisition of more ETH coins.
According to SharpLink Gaming, Inc. (NASDAQ:SBET), it intends to use a substantial amount of the proceeds to acquire ETH, while the balance will be used to fund working capital needs, general corporate purposes, operating expenses, and core affiliate marketing operations.
Based on its historical reporting dates, SharpLink Gaming, Inc. (NASDAQ:SBET) is scheduled to announce the results of its second quarter earnings by next week.
7. Affirm Holdings, Inc. (NASDAQ:AFRM)
Affirm Holdings saw its share prices increase by 12.62 percent on Monday to close at $74.79 apiece amid an overall market optimism and portfolio repositioning ahead of the release of its second-quarter earnings performance.
In an announcement last week, Affirm Holdings, Inc. (NASDAQ:AFRM) said that it is set to release the results of its financial and operating highlights after market close on August 28, to be followed by a conference call at 5 PM on the same day.
In a market note, Zacks Research expects Affirm Holdings, Inc. (NASDAQ:AFRM) to post $0.11 EPS for the current quarter, representing a year-on-year increase of 178.6 percent.
For the current fiscal year, the consensus earnings estimate of $0.05 points to a change of 103 percent from the prior year.
In recent news, Affirm Holdings, Inc. (NASDAQ:AFRM) announced a newly inked partnership with New Look Vision Group for the offer of installment payment options to the latter’s customers in Canada.
Under the agreement, approved Canadian shoppers can now opt to pay in installments through Affirm.
If approved, they can also choose the customized payment plan that best suits their needs.
6. Wayfair Inc. (NYSE:W)
Wayfair saw its share prices rally to a new all-time high on Monday as investors cheered its strong earnings performance in the second quarter of the year amid the threats of tariffs.
During the session, Wayfair Inc. (NYSE:W) touched a new 52-week high of $73.79 before paring gains to end the day just up by 12.66 percent at $73.48 apiece.
On the same day, the company announced swinging to a net income of $15 million in the second quarter of the year from a $42 million net loss in the same period last year.
Total net revenues increased by 5 percent to $3.273 billion from $3.117 billion. Excluding the impact of its exit from the German market, net revenues grew 6 percent year-on-year.
The first half, however, saw the company at a net loss of $98 million, albeit lower by 66 percent than the $290 million net loss in the same period last year. Net revenues inched up by 2.68 percent to $6 billion from $5.85 billion year-on-year.
“The second quarter was a resounding success, defined by accelerating sales and share gain, in tandem with expanding profitability. As we have discussed over the last few years, we can and will grow profitability, while taking a significant share in the market,” said Wayfair Inc. (NYSE:W) CEO Niraj Shah.
5. Joby Aviation, Inc. (NYSE:JOBY)
Joby Aviation saw its share prices surge to a new all-time high on Monday following announcements that it was set to acquire a leading urban air mobility platform for $125 million.
At intraday trading, the company rose by as much as 22 percent to $20.95, before paring gains to end the day just up by 18.82 percent at $20.39 apiece.
In a statement, Joby Aviation, Inc. (NYSE:JOBY) said it entered into a definitive agreement with Blade Air Mobility, Inc. for the acquisition of its urban air mobility passenger business. The acquisition will exclude Blade’s Medical division, but it will remain an important partner for medical transportation purposes.
According to Joby Aviation, Inc. (NYSE:JOBY), the acquisition would unlock immediate market access and infrastructure across New York City and Southern Europe, and complement its planned launch in Dubai next year.
Last year alone, Blade flew more than 50,000 passengers from a network of 12 terminals across the US.
“With access to the infrastructure they have secured and the loyal customer base they have developed, we will be in the best possible position to launch our quiet, electric aircraft as soon as certification is secured,” Joby Aviation, Inc. (NYSE:JOBY) founder and CEO JoeBen Bevirt said.
4. Viasat, Inc. (NASDAQ:VSAT)
Viasat jumped by 22.32 percent on Monday to close at $20.28 apiece as investors took heart from an investment firm’s bullish rating and price upgrade for its stock.
In a market note on the same day, William Blair upgraded Viasat, Inc. (NASDAQ:VSAT) to “outperform” from “market perform” previously, citing “plethora of catalysts that improve the company’s stock prospects over the next year,” including the potential spinoff and IPO of its defense technology business; an expected $568 million cash infusion from Ligado in fiscal 2026; and expectations of a positive free cash flow in the second half of the year, among others.
William Blair underscored that Viasat, Inc.’s (NASDAQ:VSAT) consideration to list its defense technology business publicly could deliver a more than 100 percent upside to its shares over the next year.
Carronade Capital has been pushing Viasat, Inc. (NASDAQ:VSAT) to spin off its defense technology unit and list it publicly, arguing that it could be one of the most attractive pure-play defense technology platforms in the market with its double-digit revenue growth and strong margins, and could even drive the parent firm’s share price to $100.
Viasat, Inc. (NASDAQ:VSAT) is scheduled to release its earnings performance for the first quarter of fiscal year 2026 after market close tomorrow, August 5.
3. American Eagle Outfitters, Inc. (NYSE:AEO)
American Eagle Outfitters, Inc. (NYSE:AEO) snapped a four-day losing streak on Monday, soaring 23.65 percent to close at $13.28 apiece as investors took path from President Donald Trump’s praise of the company’s new endorser, actress Sydney Sweeney, for being a registered Republican.
In a response to a journalist’s question about his thoughts on Sweeney’s political affiliation, Trump replied: “She’s a registered Republican? Oh, now I love her ad.”
“You’d be surprised at how many people are Republicans. That’s what I wouldn’t have known, but I’m glad you told me that. If Sydney Sweeney is a registered Republican, I think her ad is fantastic,” he noted.
American Eagle Outfitters, Inc. (NYSE:AEO) has been in the hot seat since last week following the official launch of a new campaign called “Sydney Sweeney Has Great Jeans,” which earned mixed reactions on social media, including claims that the campaign was “tone-deaf” due to alleged racial undertones.
In one video, Sweeney was shown wearing an all-denim getup, saying: “Genes are passed down from parents to offspring, often determining traits like hair color, personality, and even eye color. My jeans are blue.”
2. Steelcase Inc. (NYSE:SCS)
Steelcase skyrocketed by 62.87 percent to touch a new all-time high on Monday as investors gobbled up shares following news that it was set to be acquired by HNI Corporation for $2.2 billion.
During the session, its share prices rallied by as high as 68 percent at $17.13 before paring gains to end the day at $16.58 apiece.
In a statement on the same day, HNI Corporation announced that it entered into a definitive agreement with Steelcase Inc. (NYSE:SCS), under a combination of cash and stock transaction.
Under the terms, shareholders of Steelcase Inc. (NYSE:SCS) will receive $7.20 in cash and 0.2192 shares of HNI common stock for each SCS common share held. The implied per share purchase price of $18.30 was based on HNI’s closing share price of $50.62 on Friday, August 1, 2025, reflecting a valuation multiple at transaction close for Steelcase of approximately 5.8x.
Upon completion, the two parties expect the combined company to have a pro forma annual revenue of approximately $5.8 billion, pro forma Adjusted EBITDA of approximately $745 million, and 2.1x net leverage.
1. Commscope Holding Company Inc. (NASDAQ:COMM)
Commscope soared to a new all-time high on Monday, almost doubling its share price in the previous trading day, as investors gobbled up shares following announcements that it would sell its connectivity and cable solutions (CCS) business for $10.5 billion.
During the session, Commscope Holding Company Inc. (NASDAQ:COMM) touched a new all-time high of $15.15, marking a 94.5-percent jump from the $7.79 close on Friday, before slight profit-taking persisted to end the day just up by 86.26 percent at $14.51.
In a statement, Commscope Holding Company Inc. (NASDAQ:COMM) said that it entered into a definitive agreement with Amphenol Corporation (NYSE: APH) for an all-cash sale of its CCS segment.
Subject to regulatory and shareholder approvals and other closing conditions, the sale is expected to close within the first half of 2026.
According to Commscope Holding Company Inc. (NASDAQ:COMM), the sale would allow the company to hold a significant excess cash, part of which will be shared with its shareholders in the form of dividends within 60 to 90 days upon closing of the transaction. The exact amount and timing of the dividend will be determined by the Company after closing and after taking into account all relevant factors.
In other news, Commscope Holding Company Inc. (NASDAQ:COMM) reported mixed results in its second-quarter earnings performance, with net income attributable to shareholders dropping 48 percent to $14.7 million from the $28.2 million in the same period last year, and net sales jumping 31.8 percent to $1.39 billion from $1.05 billion year-on-year.
While we acknowledge the potential of COMM 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 COMM and that has 100x upside potential, check out our report about this cheapest AI stock.
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