The stock market kicked off the trading week on a strong note, with all major indices finishing in the green, as investors loaded portfolios ahead of a data-heavy week.
The tech-heavy Nasdaq led the gains among Wall Street’s main indices, up 0.45 percent. The Dow Jones grew by 0.25 percent while the S&P 500 inched up by 0.21 percent.
Optimism spilled over to 10 companies, leading to several stocks’ rally to new highs.
In this article, we highlight the names of Monday’s top performers and detail the reasons behind their gains.
To come up with the list, we considered the stocks with at least $2 billion in market capitalization and 5 million shares in trading volume.
A stock market graph. Photo by Alesia Kozik on Pexels
10. Nutanix Inc. (NASDAQ:NTNX)
Shares of Nutanix grew by 7.24 percent on Monday to close at $74.98 apiece as investors cheered its official inclusion in an S&P index effective by the end of the month.
Late on Friday, the S&P Dow Jones Indices announced that Nutanix Inc. (NASDAQ:NTNX)—an enterprise cloud computing company—is set to become a component of the S&P MidCap 400 index beginning September 22, replacing Acadia Healthcare Company. The change forms part of a regular quarterly rebalancing.
Joining the S&P MidCap 400 is a huge boost to Nutanix Inc. (NASDAQ:NTNX) as it gets further exposure to institutional investors and hedge funds tracking the S&P MidCap 400, while they unload positions in Acadia Healthcare.
In other news, Nutanix Inc. (NASDAQ:NTNX) participated in the Goldman Sachs Communacopia + Technology Conference on Monday.
In the second quarter of the year, Nutanix Inc. (NASDAQ:NTNX) swung to a net loss of $126 million from a $38.65 million net income in the same period last year. Total revenues dropped by 16 percent to $547.9 million from $653.27 million year-on-year.
9. Coupang Inc. (NYSE:CPNG)
Coupang soared to a new all-time high on Monday, as investors cheered a newly bagged deal with the Washington Capitals—a partnership that could bolster its brand exposure during nationally televised games.
At intra-day trading, Coupang Inc. (NYSE:CPNG) touched its new record high of $31.78 before trimming gains to finish the day just up by 8.96 percent at $31.50 apiece.
Monday’s rally marked its third straight day of gains after clinching a multi-year agreement with the hockey team for a prominent placement of its logo on the upper right chest area of its jerseys to be worn in games at the Capital One Arena beginning with the 2025-2026 NHL pre-season.
The placement is ideal for maximizing Coupang Inc.’s (NYSE:CPNG) brand exposure, amplifying its brand-building initiatives to be recognized by a larger market.
Additionally, Coupang Inc. (NYSE:CPNG) said that the partnership will promote its and Monumental Sports & Entertainment’s (MSE) commitment to supporting American companies’ efforts to grow their businesses and brands on an international scale.
The listed firm said that it would collaborate with the MSE every year to highlight the importance of small businesses and building economic growth at home through global sales of American goods.
8. ASE Technology Holding Co., Ltd. (NYSE:ASX)
ASE Technology extended its winning streak to a second day on Monday to touch a new all-time high, as investors loaded portfolios amid the growing optimism for semiconductor and artificial intelligence stocks.
At intra-day trading, ASE Technology Holding Co., Ltd. (NYSE:ASX) surged to a new 52-week record of $11.52 before trimming gains to close the day just up by 9.93 percent at $11.51 apiece.
ASE Technology Holding Co., Ltd. (NYSE:ASX) mimicked the rally of its semiconductor counterparts, supported by a key player’s report last week of a stellar earnings performance in the second quarter of the year, alleviating concerns for the AI industry.
In other news, ASE Technology Holding Co., Ltd. (NYSE:ASX) dropped its net income attributable to shareholders in the second quarter of the year by 3.6 percent to NT$7.5 billion from NT$7.8 billion in the same period last year.
Total revenues grew by 7.5 percent to NT$150.7 billion from NT$140.2 billion year-on-year.
7. Hesai Group (NASDAQ:HSAI)
Shares of Hesai Group rallied to a new all-time high on Monday, as investors cheered its official filing of a $474.5-million initial public offering (IPO) on the Hong Kong Stock Exchange, becoming the first of the few US-listed Chinese companies to seek a secondary listing amid the US-China trade tensions.
At intra-day trading, Hesai Group (NASDAQ:HSAI) touched a new 52-week high of $30.44, before paring gains to end the day just up by 7.63 percent at $28.51 apiece. Monday also marked its fourth consecutive day of gains.
In a regulatory filing, Hesai Group (NASDAQ:HSAI) said it began offering some 17 million Class B ordinary shares at a price of HK$228 (US$ 29.04), comprising 1.7 million shares offered to Hong Kong investors, and the larger 15.3 million shares to the international market.
Hesai Group (NASDAQ:HSAI) also granted an overallotment option of up to 2.9 million shares in case of a stronger demand.
The offering is slated to close on Thursday, with the final price to be determined on Friday. Market debut on the HKEX is scheduled on September 16.
Hesai Group (NASDAQ:HSAI) said it plans to use the net proceeds from the offer to invest in research and development, invest in its manufacturing capabilities, as well as business developments to accelerate expansion, working capital, and other general corporate purposes.
6. Hecla Mining Company (NYSE:HL)
Shares of Hecla Mining surged to a new 52-week high on Monday, as investors loaded up portfolios amid the rally in spot prices of silver and gold.
At intra-day trading, Hecla Mining Company (NYSE:HL) touched a new all-time high of $10.28 before trimming gains to finish the day just up by 12.20 percent at $10.12 apiece.
This followed a surge in spot prices of silver, which, as of writing, was up by 0.74 percent at $41.31 per troy ounce. The increase was primarily driven by expectations of lower interest rates that could make precious metals cheaper and more appealing to investors.
Meanwhile, spot prices of gold were up by 1.37 percent at $3,635.73 per troy ounce.
The Federal Reserve is set to meet for its next FOMC meeting next week, and investors and analysts are highly anticipating an interest rate cut, a move that could weaken the US dollar and make dollar-denominated precious metals much cheaper to foreign investors.
Hecla Mining Company (NYSE:HL) is one of the largest producers of silver in the US and Canada.
5. Robinhood Markets, Inc. (NASDAQ:HOOD)
Robinhood Markets rebounded to nearly hit its 52-week record high as investors loaded positions ahead of its official inclusion in the S&P 500 index.
At intra-day trading, Robinhood Markets, Inc. (NASDAQ:HOOD) hit its highest price for the day of $117.30, or just marginally shy of its 52-week record high of $117.70 apiece.
This followed the S&P Dow Jones Indices’ announcement late on Friday that Robinhood Markets, Inc. (NASDAQ:HOOD) was officially joining the S&P 500 index beginning September 22, replacing Caesars Entertainment.
Joining the benchmark index could be a huge boost to Robinhood Markets, Inc. (NASDAQ:HOOD) as its membership can help bolster its exposure to institutional investors and hedge funds.
The inclusion followed several months of speculation on whether it could gain a spot in the infamous benchmark after failing to join the previous quarterly rebalancing.
Investors typically load up positions in companies set to join benchmark indices to take advantage of a cheaper price, before hedge funds and institutional investors make massive acquisitions.
4. Astera Labs, Inc. (NASDAQ:ALAB)
Astera Labs jumped to a new all-time high on Monday, as investors took path from an investment firm’s bullish rating for the stock.
At intra-day trading, the AI chip company soared to a new 52-week record of $220.69 before trimming gains to finish the day just up by 13.02 percent at $216.10 apiece.
In a market note, Zacks Research gave Astera Labs, Inc. (NASDAQ:ALAB) a “strong buy” recommendation, deeming its technology as “the new industry standard.”
“The technology allows ‘rack-scale’ AI, where multiple servers can act in concert, alleviating data transfer bottlenecks and producing rapid, efficient, and reliable connectivity,” Zacks Research said.
Additionally, the growing system complexities of AI and cloud infrastructure bode well for Astera Labs, Inc. (NASDAQ:ALAB), with its recent earnings performance indicating that it has already emerged as a leader in next-generation data center connectivity.
“In fact, ALAB has beaten Zacks Consensus EPS Estimates for four straight quarters, with a juicy beat margin of 32.2 percent,” the research said.
In the second quarter of the year, Astera Labs, Inc. (NASDAQ:ALAB) swung to a net profit of $51.2 million from a $7.5 million net loss in the same period last year. Revenues expanded by 150 percent to $191.9 million from $76.85 million year-on-year.
3. Dianthus Therapeutics, Inc. (NASDAQ:DNTH)
Dianthus Therapeutics soared to a new record high on Monday, as investors cheered impressive results from its clinical trial of a potential treatment for generalized Myasthenia Gravis (gMG), a rare autoimmune disease causing muscle weakness.
At intra-day trading, Dianthus Therapeutics, Inc. (NASDAQ:DNTH) hit a new record high of $32.8 before trimming gains to finish the day just up by 20 percent at $31.80 apiece, after the company said that it saw significant and clinically meaningful improvements in the second phase of clinical trial for Claseprubart immediately in the first week, lasting through the 13th week.
“Claseprubart was generally well tolerated with no drug-related Serious Adverse Events (SAEs) or discontinuations due to any related adverse event. Claseprubart had a favorable clinical safety profile comparable to placebo with no treatment-related serious bacterial infections and no clinical symptoms of emergent autoimmune disorders observed,” Dianthus Therapeutics, Inc. (NASDAQ:DNTH) said. The trial enrolled 65 adult patients with gMG.
“Claseprubart has the potential to be a best-in-class pipeline-in-a-product across a range of autoimmune disorders with high unmet need,” it added.
In other news, Dianthus Therapeutics, Inc. (NASDAQ:DNTH) announced that it has commenced an underwritten public offering to raise $150 million in fresh funds to advance preclinical and clinical development activities, as well as for working capital and general corporate purposes.
2. QuantumScape Corp. (NYSE:QS)
QuantumScape rallied for a second straight day on Monday, adding 21.05 percent to end at $9.49 apiece after it showcased its solid-state lithium metal batteries for a Ducati motorcycle in Munich, Germany.
In a press conference at the IAA Mobility on Monday, QuantumScape Corp. (NYSE:QS) and PowerCo SE, Volkswagen’s battery subsidiary, unveiled the Ducati V21L equipped with QSE-5 battery cells that were produced using the QS Cobra production process.
The demonstration bike contained a first-of-its-kind battery system designed by specialists at VW Group-owned Audi specifically for QS solid-state battery cells, and highlighted the potential capabilities of the technology on the racetrack.
“This will be a rigorous proving ground for QS technology, which has shown unique capabilities, including 844 Wh/L energy density, just over 12-minute fast charging from 10% to 80% state of charge, and 10C continuous discharge,” QuantumScape Corp. (NYSE:QS) said.
For his part, PowerCo CEO Frank Blome said solid-state batteries “will redefine what’s possible for high-performance, premium vehicles.”
“Today’s historic demonstration is just the beginning. We’re combining QuantumScape’s world-class battery scientists with PowerCo’s manufacturing expertise to bring game-changing solid-state battery technology to the world as soon as possible,” he noted.
1. Planet Labs PBC (NYSE:PL)
Planet Labs surged to a fresh peak on Monday as investors welcomed its earnings performance and revenue growth outlook for the full fiscal year of 2026.
In intra-day trading, the stock jumped to its fresh high of $9.71 before a slight selling pulled the company’s price lower by $0.05 to $9.66.
In its updated report, Planet Labs PBC (NYSE:PL) said it narrowed its net loss by 41.6 percent to $22.59 million from $38.67 million in the same period last year. Revenues increased by 20.13 percent to $73.39 million from $61.09 million year-on-year.
“Our second quarter results demonstrate incredibly strong momentum across our business, with record revenue and substantial growth in our backlog. The increased demand for our unique Earth intelligence, highlighted by pivotal contracts including one in collaboration with the German government, one with NATO, and others with the US Department of Defense, underscores the critical role Planet plays in addressing global challenges and supporting peace and security,” said Planet Labs PBC (NYSE:PL) Chairman and CEO Will Marshall.
“We are continuing to innovate with the recent launch of two additional next-generation Pelican satellites, with more on the horizon, reinforcing our commitment to delivering the most comprehensive and timely data and insights to our customers worldwide,” he said.
For the full fiscal period of 2026, Planet Labs PBC (NYSE:PL) said it now expects revenues to hit $281 million to $289 million, higher than its previous growth outlook of $265 million to $280 million.
For the third quarter alone, revenues are targeted to reach $71 million to $74 million.
While we acknowledge the potential of PL 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 PL and that has 100x upside potential, check out our report about this cheapest AI stock.
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