Ten stocks kicked off the trading week with double-digit gains, defying a lackluster performance on the broader market, as investors turned to positive developments to bolster their buying appetite. Of the 10 in the list, six notably soared to record highs.
In contrast, Wall Street’s three major indices finished in the red, led by the Nasdaq, down 0.26 percent, followed by the S&P 500 declining 0.24 percent, and the Dow Jones dipping 0.01 percent.
In this article, we explore the 10 best performers and break down the reasons behind their gains.
To come up with the list, we only considered the stocks with a $2 billion market capitalization.
Photo by Alesia Kozik on Pexels
10. Sigma Lithium Corp. (NASDAQ:SGML)
Sigma Lithium kicked off the trading week soaring to a new two-year high, as investors continued to load portfolios in industries seen to benefit from the uncertainties in the Middle East.
The stock climbed to a record high of $21.80 before trimming a few cents to finish the session just up by 10 percent at $21.69 apiece.
Investors resumed buying positions in lithium stocks amid the spike in demand for electric vehicles, with global crude oil prices jumping by 5 percent anew during the day after the US and Iran ordered the Strait of Hormuz shut again.
As of writing, the benchmark crude oil prices Brent and WTI have jumped by 5.23 percent and 5.84 percent to $95.11 and $88.75 per barrel, respectively.
Since the start of the war, online car marketplaces have reported a spike in demand for EVs as consumers look for alternative transportation modes to mitigate risks from the higher global crude oil prices, sparking rosy prospects for Sigma Lithium Corp. (NASDAQ:SGML), a leading producer of lithium oxide concentrate, which is essential for the production of batteries, among others.
Earlier this month, Sigma Lithium Corp. successfully raised $100 million in fresh funds from a collateralized bank guarantee.
The lithium maker said proceeds from the loan would support the construction and installation of its Greentech Industrial Plant 2, in line with goals to upsize its nameplate capacity to 520,000 tons from 270,000 tons.
Sigma Lithium Corp. said the guarantee will be collateralized by its clients through a blend of corporate guarantees, letters of credit, and export receivables to be mutually agreed upon amongst the parties.
9. Lightwave Logic Inc. (NASDAQ:LWLG)
Lightwave Logic extended its winning streak to a third consecutive day on Monday to hit a new four-year high, as investors loaded positions in players riding the technology boom while mitigating risks from the uncertainties in the Middle East.
The stock climbed to its highest price of $14.82 before trimming a few cents to end the day just up by 13.08 percent at $14.18 apiece.
The rally can be attributed to the continued optimism for companies riding the AI boom, while investor funds fled industries seen as vulnerable to the US-Iran war.
Lightwave Logic Inc. (NASDAQ:LWLG) is a technology firm leveraging electro-optic polymers to transmit data at higher speeds with less power for data centers, among others.
Last month, its high-speed modulator platform was made available as part of the GDSFactory process design kit, which GlobalFoundries uses for its silicon photonics manufacturing platform.
Lightwave Logic Inc. said that it partnered with GDSFactory for the integration of its polymer-based modulator technology into the GDSFactory PDK, enabling customers to incorporate high-speed electro-optic polymer modulators directly into their photonic integrated circuit designs for tape-out on GF’s silicon photonics platform.
The expanded PDK and integrated design flow support simulation, verification, and fabrication handoff within the GDSFactory environment, providing a manufacturable pathway from design to foundry execution.
“Making our high-speed modulator platform available within the GDSFactory PDK represents a significant step toward commercial deployment,” Lightwave Logic Inc. President and CEO Yves LeMaitre said.
“With the support from GDSFactory, we are enabling customers to move confidently from architecture to tape-out while leveraging GlobalFoundries’ leading silicon photonics platform,” he added.
8. BlackBerry Ltd. (NYSE:BB)
BlackBerry extended its winning streak to a 9th straight session on Monday, to hit a new 52-week high, following news that it joined forces with Nvidia Corp. to advance safety-critical Edge AI across various industries.
In intra-day trading, BlackBerry Ltd. (NYSE:BB) climbed to its highest price of $5.71 before trimming gains to finish the session just up by 13.17 percent at $5.50 apiece.
In an updated report, BlackBerry Ltd. said that its business unit, QNX, partnered with Nvidia for the integration of its safety operating system 8.0 with NVIDIA IGX Thor and Halos Safety Stack, which will enable developers to consolidate real-time controls and safety concepts while using Nvidia accelerated compute for AI‑driven capabilities such as perception, planning, and decision‑making.
“As robotics, medical, and industrial systems become more autonomous and software-defined, safety and determinism cannot be afterthoughts,” QNX President John Wall said.
“Integrating QNX OS for Safety 8.0 with NVIDIA IGX Thor and NVIDIA Halos Safety Stack brings together a trusted real‑time safety foundation and a powerful functional safety platform for edge AI. This expanded collaboration builds on our work with the NVIDIA DRIVE AGX Thor Development Kit and extends the same proven architecture from automotive into the next wave of regulated, intelligent systems,” he noted.
In other news, BlackBerry Ltd. also announced that QNX bagged a new deal with Chinese electric vehicle maker, Leapmotor to support the development of its premium electric SUV, D19.
Under the agreement, Leapmotor would use QNX’s Software Development Platform 8.0 and Hypervisor for Safety 8.0 to enable a unified architecture for advanced cockpit and advanced driver-assistance system experience.
7. USA Rare Earth Inc. (NASDAQ:USAR)
USA Rare Earth extended its winning streak to a 6th consecutive day on Monday, surging 13.18 percent to close at $22.58 apiece, as investors took heart from its expansion initiative with the acquisition of a rare earth miner for $2.8 billion.
In an updated report, USA Rare Earth Inc. (NASDAQ:USAR) said that it inked a definitive agreement with Serra Verde Group for the acquisition of its entire stake for a combination of cash and stock transaction.
Serra Verde, which owns the Pela Ema rare earth mine and processing plant in Goiás, Brazil, will be acquired for $300 million in cash and more than 126.8 million USAR shares, which, as of Friday’s $19.95 closing price, implied an equity value of $2.8 billion.
The acquisition is expected to close in the third quarter of the year, subject to customary closing conditions and regulatory approvals.
“The acquisition of Serra Verde represents a transformational step in delivering on our ambition to build a global champion and the partner of choice in rare earth elements, oxides, metals and magnets,” USA Rare Earth Inc. CEO Barbara Humpton said, noting that Serra Verde is the only producer outside Asia capable of supplying all four magnetic rare earths at scale, including Dysprosium, Yttrium, and Terbium.
“By combining Serra Verde’s world-class operations and team with our processing, separation, metallization, and magnet-making capabilities, we are advancing our goal of creating a fully integrated platform that will serve as a cornerstone of global rare earth supply security for decades to come,” she added.
Serra Verde recently secured a $565 million in financial backing from the US International Development Finance Corp. for its expansion initiatives. It also secured a 15-year offtake agreement to supply a special purpose vehicle and private capital sources with all four magnetic rare earths required to make a permanent NdFeB magnet.
6. Erasca Inc. (NASDAQ:ERAS)
Erasca rallied for a 5th straight session on Monday to hit a new four-year high, as investors positioned portfolios ahead of the results of its clinical study for its pancreatic cancer treatment candidate, ERAS-0015.
In intra-day trading, the stock surged to a record high of $21.85 before trimming a few cents to finish the session just up by 14.20 percent at $21.71 apiece. Year-to-date, the stock was already up by 483.6 percent.
In a notice earlier in the year, Erasca Inc. (NASDAQ:ERAS) said that additional data from the first phase study of ERAS-0015 are expected to be announced in the first half of 2026.
Optimism was further supported by earlier announcements that ERAS-0015 holds a “best-in-class” potential, as underscored by the partial responses at a low dosage of 8 mg daily across multiple tumor types, alongside favorable safety data.
“This clinical progress and the successful upsized public offering heighten excitement in our RAS-targeting franchise and strengthen our financial position as we further advance clinical development,” Erasca Inc. Chairman and CEO Jonathan Lim said.
Erasca Inc. also expanded its worldwide rights to develop and commercialize ERAS-0015 to China, Hong Kong, and Macau, sparking revenue growth opportunities in these areas.
In addition, it inked a collaboration and supply agreement with Tango Therapeutics Inc. to evaluate the efficacy of ERAS-0015 when combined with the latter’s PRMT5 inhibitor, vopimetostat.
The combination represents a promising opportunity to redefine the standard of care in patients with MTAP-deleted RAS-mutant (MTAPdel RASm) cancers, where treatment options remain limited, Erasca Inc. said.
5. Plug Power Inc. (NASDAQ:PLUG)
Plug Power recouped three days of losses on Monday, surging 15.83 percent to close at $3.22 apiece, as investors positioned portfolios in stocks benefitting from the artificial intelligence boom, while fleeing sectors seen as vulnerable to the uncertainties in the Middle East.
Additionally, Plug Power Inc. (NASDAQ:PLUG) is expected to announce the results of its earnings performance in the first quarter of the year, estimated to be between May 8 and 12, based on its historical earnings reporting dates.
Investors are expected to closely watch for the company’s outlook for the year under the leadership of newly-installed chief executive officer, Jose Luis Crespo, who assumed the role last March 2.
Prior to the CEO role, Crespo served as Plug Power Inc.’s president and chief revenue officer, where he helped drive growth through cost discipline, margin expansion, and capital efficiency, resulting in revenues hitting more than $700 million last year from only $27 million in 2013.
He also deepened strategic partnerships with global customers, including Amazon, Walmart, Home Depot, Galp, and Iberdrola, while advancing hydrogen fuel cell and electrolyzer deployments across multiple industries.
Crespo replaced Andy Marsh, who transitioned to chairman of Plug Power Inc.’s board of directors, consistent with the leadership transition plan announced last October.
4. Legend Biotech Corp. (NASDAQ:LEGN)
Legend Biotech soared for a 5th straight day on Monday, climbing 18.42 percent to close at $25.07 apiece, as investors took heart from two investment firms’ reiteration of bullish coverage for its stock.
In a market note, RBC Capital reaffirmed its “outperform” rating and $62 price target on shares of Legend Biotech Corp. (NASDAQ:LEGN), while HC Wainwright reiterated its “buy” recommendation and $50 price target.
RBC Capital said that its coverage reflected its optimism following Eli Lilly’s acquisition of Kelonia for $3.25 billion, which highlighted the growing interest in the CAR-T therapy market.
Kelonia is a biotechnology company focusing on the development of advanced cancer treatments. Both the latter and Legend Biotech Corp. specialize in CAR-T therapy, a cutting-edge treatment that reprograms immune cells so those cells can find and kill cancer.
Meanwhile, HC Wainwright said that its coverage was based on its confidence in the in vivo CD19/CD20 CAR-T data, which is expected to be announced at the 2026 ASCO Annual Meeting in Chicago, Illinois, from May 29 to June 2, 2026.
Legend Biotech Corp. signaled that a “major medical meeting” readout is imminent.
In other news, the firm announced dismal earnings performance last year, with net losses widening by 68 percent to $296.8 million from $177 million in 2024. Total revenues, however, surged by 64 percent to $1.029 billion from $627.3 million year-on-year.
3. MaxLinear Inc. (NASDAQ:MXL)
MaxLinear extended its winning streak to a 9th straight session on Monday, to hit an over two-year high, as investors resumed buying positions ahead of its earnings performance for the first quarter of the year, with revenues expected to grow by high double digits.
In intra-day trading, the stock climbed to its highest price of $33.13 before paring gains to finish the session just up by 20.78 percent at $31.73 apiece.
In a notice to investors, MaxLinear Inc. (NASDAQ:MXL) said that it would release its financial and operating highlights for the period after market close on Thursday, April 23. A conference call will be held to elaborate on the results.
For the said quarter, MaxLinear Inc. is expected to report a 35.5 percent to 46 percent growth in its revenues to a range of $130 million to $140 million, versus $95.9 million previously.
Gross margin is expected at 56 to 59 percent on a GAAP basis, and at a non-GAAP of 58 to 61 percent.
In other news, MaxLinear Inc. late last month announced a new addition to its industrial connectivity portfolio with the launch of the MxL8323x family of RS-485/RS-422 half-duplex transceivers.
The product was designed to deliver scalable data rates up to 50Mbps, robust ESD and EFT protection, and wide voltage compatibility for electrically harsh industrial applications.
2. Avis Budget Inc. (NASDAQ:CAR)
Avis Budget soared by 23.27 percent on Monday to finish at $608.80 apiece, amid another round of short squeeze.
The stock is a highly shorted company, with at least 20 percent of its float sold short, giving room for potential breakout rallies.
The rally came despite Barclays’ “sell” recommendation for its stock following the sharp short squeeze occurring over the past few weeks.
Barclays said that the rally was a “supply-demand mismatch” with two holders accounting for 71 percent of outright ownership, and over 100 percent of economic interest given outstanding swaps.
“All of this leads to uncertainty about how long this will last and whether CAR stock can go higher,” Barclays said.
Even with the improvements in the car fundamentals, Barclays said that the rally cannot be justified.
Year-to-date, Avis Budget Inc. (NASDAQ:CAR) has already gone up by 374 percent.
Last year, Avis Budget Inc. narrowed its net loss by 51 percent to $889 million from $1.82 billion in 2024. Revenues decreased by 1.6 percent to $11.6 billion from $11.79 billion year-on-year.
In the fourth quarter alone, Avis Budget Group Inc. incurred an attributable net loss of $747 million, or 61.8 percent lower than the $1.958 billion year-on-year. Revenues dipped 1.7 percent to $2.66 billion from $2.7 billion year-on-year.
1. Aevex Corp. (NYSE:AVEX)
Aevex soared even higher in its second day as a publicly listed company, as investor optimism continued to be fueled by the rosy prospects for the industry amid the ongoing geopolitical tensions.
At intra-day trading, Aevex Corp. (NYSE:AVEX)—a military drone-maker—climbed to as high as $42.34 before paring gains to end the session just up by 24.06 percent at $33.41 apiece.
From its initial public offering price of $20, its peak already represented a 111.7 percent growth in its stock.
The strong debut came on the heels of ongoing geopolitical tensions, which highlighted the need for stronger military defense products and services.
Aevex Corp. successfully raised $320 million in fresh funds from the sale of 16 million shares to the public, valuing the company at $2.6 billion.
Proceeds from the offer, according to Aevex Corp., will be used for the acquisition of 16 million shares in Athena Technology Solutions Holdings, LLC—a leading provider of full-spectrum airborne intelligence solutions for the global intelligence community.
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