Ten stocks kicked off the trading week with double-digit gains, with five notably reaching fresh record highs, thanks to a broader market optimism and positive corporate developments.
In this article, we name the 10 said firms and detail the reasons behind their gains.
To come up with the list, we focused on the companies with a $2 billion market capitalization and 5 million shares in trading volume.
Photo by Alesia Kozik on Pexels
10. Sandisk Corp. (NASDAQ:SNDK)
Sandisk soared to a fresh all-time high on Monday, propelling its share price month-to-date by already 50 percent, as investors loaded portfolios ahead of its inclusion in the Nasdaq 100.
Nasdaq announced late Friday that Sandisk Corp. (NASDAQ:SNDK) is set to replace Atlassian Corp. in the index of top 100 non-financial companies listed on the Nasdaq exchange beginning Monday, April 20.
Following the news, the stock climbed to its highest price of $953.41 before trimming gains to finish the session just up by 11.83 percent at $952.50.
Newly-included stocks in benchmark indices typically see a boost in their share prices prior to the effective date of their inclusion, as funds would have to reposition their portfolios to mirror the composition of the index.
Sandisk Corp.’s inclusion came ahead of the results of its earnings performance for the third quarter of fiscal year 2026.
According to the company, it is scheduled to release the financial and operating highlights after market close on Thursday, April 30. A conference call will be held to discuss the results.
For the said period, Sandisk Corp. is expected to report $4.4 billion to $4.8 billion in revenues, or an implied growth of 159 percent to 182 percent from the $1.7 billion reported in the same quarter a year earlier.
Non-GAAP diluted net income per share is expected to be $12 to $14, or a reversal of the $0.30 loss per share a year earlier.
Gross margin, on the other hand, is projected at 64.9 percent to 66.9 percent.
9. Astera Labs Inc. (NASDAQ:ALAB)
Astera Labs extended its winning streak to a 7th consecutive day on Monday, surging 11.91 percent to finish at $166.80 apiece, with investor optimism bolstered by its high double-digit growth outlook for the first quarter of the year.
In a notice to investors, Astera Labs Inc. (NASDAQ:ALAB) said that it would report its financial and operating highlights after market close on May 5, 2026, to be accompanied by a conference call to elaborate on the results.
For the period, the company earlier targeted to grow its revenues by 78 percent to 86 percent year-on-year to a range of $286 million to $297 million, versus only $159.4 million in the same period a year earlier.
GAAP diluted earnings per share are also expected to at least double to a range of $0.36 to $0.38, as compared with the $0.18 in the same comparable quarter.
Also on Monday Astera Labs Inc. received an optimistic outlook from Alger Capital, saying that it is likely to grow 4x over the next four years.
In an interview with the Closing Bell show on CNBC, EVP Ankur Crawford said that the opportunity for Astera Labs Inc. is dislocated from its fundamentals
“This company that’s gonna grow by 4x over four years. There’s relatively few companies with this kind of profile, with this kind of quality of management team. It’s dislocated, and in part because people think that there are copper plays and they’ll get left out in the optical transition. I think that’s a complete misnomer because they actually own kind of like what I think of is the central train station for data on-trip and regardless of whether you have optical or you have copper, all the bits have to actually go through an Astera chip,” she said.
8. Circle Internet Group (NYSE:CRCL)
Circle Internet soared by 12.09 percent on Monday to close at $98.68 apiece, as investors loaded portfolios ahead of the results of its earnings performance for the first quarter of the year.
In a statement, Circle Internet Group (NYSE:CRCL) said that it would release its financial and operating highlights for the period before market close on May 11, 2026. A conference call will be organized to discuss the highlights.
The rally came despite an investment firm’s pessimistic coverage for the company last week. In its market note, Compass Point downgraded Circle Internet Group to “sell” from “neutral” previously, and cut its price target for the stock to just $2 from $77 prior.
“USDC is more resilient this cycle; however, we believe supply is shifting into lower margin areas,” Compass Point said, adding that they expect gross margins to contract in the first half of the year.
It believes that Circle Internet Group’s outperformance since the fourth quarter was driven by the resilience in USDC adoption, alongside growing expectations for margin expansion.
The stock currently trades at 40x optimistic 2027E EBITDA, bolstered by expectations that USDC would reaccelerate during the second quarter.
“As USDC supply remains stagnant and CRCL’s [first half margins] decline, we expect consensus to reduce 2026-27E expectations, where our 2027E EBITDA is 20 percent below the Street,” it noted.
7. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)
Credo Technology climbed by 12.35 percent on Monday to close at $134.36 apiece, following news that it would expand into silicon photonics and optical connectivity in line with its goal to strengthen its foothold in the $6-billion market.
In a statement, Credo Technology Group Holding Ltd. (NASDAQ:CRDO) said that it is set to acquire DustPhotonics—a leading developer of Silicon Photonics Photonic Integrated Circuit (SiPho PIC) technology for optical transceivers, which boasts of a portfolio of on-demand SiPho PIC portfolios including 400G, 800, and 1.6T.
The acquisition alone is expected to boost its optical revenues for the fiscal year 2027 to more than $500 million.
According to Credo Technology Group Holding Ltd., the acquisition would position itself as a key player in a vertically integrated connectivity stack for scale out and scale up networks, and address both electrical and optical interconnects across the full AI infrastructure buildout.
“This combination positions us at an inflection point in optical. As adoption accelerates across hyperscale AI infrastructure, we expect our optical business to scale into a meaningful and rapidly growing contributor by fiscal 2027,” Chairman, President, and CEO William Brennan said.
Acquisition aside, Jefferies issued a bullish outlook in its first coverage for the stock, assigning a “buy” recommendation and a price target of $175. The figure marked a 30-percent upside potential from its latest closing price.
Jefferies said that its coverage was based on the belief that its current stock price has yet to fully reflect its growth prospects from the booming artificial intelligence industry with the listed firm’s active electrical cables expected to continue benefitting from data center buildouts.
The investment firm also noted its optimism for Credo’s move into optical transceivers through ZeroFlap optics, which it said could help bolster its revenues.
6. Oracle Corp. (NYSE:ORCL)
Oracle rallied for a second day on Monday, soaring 12.69 percent to finish at $155.62 apiece, as investor sentiment was bolstered by the progress of its ongoing cloud computing expansion.
This followed news during the day that it expanded its partnership with Bloom Energy Corp. for the procurement of up to 2.8 gigawatts of fuel cell systems to support its AI cloud computing infrastructure in the US.
Under the agreement, some 1.2 GW of capacity has already been contracted, with deployment underway and would continue until next year.
“By rapidly deploying Bloom’s reliable, efficient fuel cell energy, we are quickly meeting the demands of our customers across the United States,” said Mahesh Thiagarajan, executive vice president for Oracle Corp.’s (NYSE:ORCL) Cloud Infrastructure unit.
“Together, Bloom and Oracle Cloud Infrastructure are building the power foundation and AI infrastructure to accelerate American AI leadership,” he added.
The expanded partnership followed the first deal inked in July last year, under which Bloom Energy delivered a 90-day onsite power for a data center owned by Oracle Corp..
In related developments, Bloom Energy said that it officially issued warrants to Oracle Corp. in relation to its $2.2 billion convertible senior notes offering announced in October last year. Under the terms of the agreement, each $1,000 note is convertible to 5.1290 Class A common shares.
5. Almonty Industries Inc. (NASDAQ:ALM)
Almonty Industries extended gains for a second day on Monday, soaring 15.32 percent to close at $20.62 apiece, as investors took heart from its support for the US government’s critical minerals expansion with its relocation to the US.
In a statement, Almonty Industries Inc. (NASDAQ:ALM) said that its headquarters is set to move to Dillon, Montana, from Toronto, Ontario, reflecting its continued strategic alignment with the United States and its role in supporting secure, transparent, and Western-aligned supply chains for critical materials.
The move was in line with its ambitious goal of becoming a leading tungsten producer in the US, and followed its acquisition of the Gentung Tungsten Project in Montana. Production at the mine site is expected to restart this year.
“Relocating our headquarters to the United States is not merely symbolic. It reflects who we are—as Montana is the location of our recently acquired Gentung Tungsten Project—and where our future lies. Our investors, customers, and strategic partners are here because they recognize the urgency of building a Western tungsten supply chain free from Chinese dependence,” Almonty Industries Inc. Chairman, President, and CEO Lewis Black said.
“With Sangdong Phase 1 complete and Gentung on track to begin production, we are delivering on that mission, and a US home base ensures we remain at the center of it,” he noted.
4. Sigma Lithium Corp. (NASDAQ:SGML)
Sigma Lithium climbed to a new two-year high on Monday, as investors loaded portfolios amid rosy prospects from the continued surge in demand for electric vehicles.
In intra-day trading, the stock climbed to its highest price of $17.58 before paring gains to finish the session just up by 17.10 percent at $17.39 apiece.
Since the start of the US and Israel’s war on Iran, online marketplaces have seen a surge in interest in electric vehicles, with buyers said to be on the lookout for other alternatives to mitigate risks from the spiking global crude oil prices.
Mobile.de, the largest vehicle marketplace in Germany, said the new and used car marketplace had seen an over 50 percent jump in EV inquiries in March compared to February.
Meanwhile, Carwow reported a 20 to 30 percent jump in EV inquiries in the UK, Spain, and Germany between February and March, with demand in the UK alone up 23 percent last month versus February.
The development spelled good news for Sigma Lithium Corp. (NASDAQ:SGML)—a Brazil-based maker of high-purity lithium concentrate for EVs—as more EV sales translate to stronger demand for its products.
In other news, Sigma Lithium Corp. earlier this month 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.
3. Spyre Therapeutics Inc. (NASDAQ:SYRE)
Spyre Therapeutics soared to a new four-year high on Monday, as investors took heart from the best-in-class potential of its treatment for ulcerative colitis (UC) and the stock’s 40-percent price target upgrade from an investment firm.
In intra-day trading, the stock climbed by as much as 46 percent to a high of $75, before trimming gains to finish the session just up by 23.36 percent at $63.27 apiece.
In an updated report, Spyre Therapeutics Inc. (NASDAQ:SYRE) said that its treatment candidate, SPY001, saw a clinical remission rate of 40 percent at 12 weeks versus Entyvio’s 27 percent at 14 weeks.
The drug also demonstrated an improvement of 51 percent in endoscopic versus its competitor’s 41 percent at six weeks.
Following the news, BTIG upgraded its price target for Spyre Therapeutics Inc. to $98 from $70 previously, while maintaining its “buy” recommendation.
BTIG raised to 80 percent its expectations for SPY001 combinations to succeed, as well as penetration rates for UC and Crohn’s disease to 30 and 20 percent, respectively.
In other news, Spyre Therapeutics Inc. kicked off a $300 million share sale in line with plans to raise funds to support its pipeline programs.
It also granted its underwriters a $45 million overallotment option at the same price for 30 days from the public offering date.
2. Avis Budget Group Inc. (NASDAQ:CAR)
Avis Budget extended its rally for a 9th straight session on Monday, to hit an all-time high, as short traders continued to gobble up its stock amid uncertainties in the Middle East.
In intra-day trading, Avis Budget Group Inc. (NASDAQ:CAR) jumped to its highest price of $372.23 before paring gains to finish the day just up by 23.69 percent at $371.01 apiece.
The rally can be attributed to the uncertainties in the ongoing peace talks between the US and Iran, whose war over the past few weeks has sent global crude oil prices spiking.
This, on the other hand, sparked good news for used car and car rental stocks like Avis Budget Group Inc. and Hetz Global Holdings, as travelers look for alternative modes of transportation to mitigate risks from the oil spikes and uncertainties.
Additionally, Avis Budget Group Inc. is a heavily shorted company, with at least 20 percent of its total float sold short, giving room for potential breakout rallies.
Last year, the company 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. Revolution Medicines Inc. (NASDAQ:RVMD)
Revolution Medicines soared to a fresh all-time high on Monday, as investors cheered the stellar results from the clinical trial of its pancreatic cancer treatment, daraxonrasib.
In an updated report, Revolution Medicines Inc. (NASDAQ:RVMD) said that Daraxonrasib recorded a median overall survival of 13.2 months versus only 6.7 months for chemotherapy.
“Daraxonrasib as a targeted medicine delivered a dramatic improvement in overall survival in patients with previously treated metastatic pancreatic cancer compared to standard of care chemotherapy, consistent with earlier findings. These results represent a potentially transformative advance for patients and underscore daraxonrasib’s potential to redefine the treatment landscape,” Revolution Medicines Inc. Chairman and CEO Mark Goldsmith said.
“We are moving with urgency toward global regulatory submissions and remain committed to rapidly advancing this therapy for patients with a broad range of RAS-addicted cancers,” he noted.
Revolution Medicines Inc. said it is planning to submit the overall data to regulators, including the Food and Drug Administration (FDA), as part of its future New Drug Application.
Following the news, investment firm Raymond James issued a “strong buy” recommendation for Revolution Medicines Inc.’s stock, alongside a price target of $175, marking a 30 percent upgrade from $135 previously.
Meanwhile, Bank of America gave a $170 price target, or a 48 percent upgrade from $115, while maintaining a “buy” recommendation.
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