The stock market capped off the trading week with a strong rebound, erasing the previous days’ losses, after the US central bank signaled to cut interest rates next month.
The Dow Jones led the gains among Wall Street’s main indices, jumping 1.89 percent. The tech-heavy Nasdaq followed with a 1.88 percent gain, and the S&P 500, with a 1.52 percent increase.
Optimism spilled over to individual stocks, 10 of which were notable for soaring by double digits. In this article, we identified the top 10 performers on Friday and detailed the reasons behind their gains.
To compile the list, we focused exclusively on stocks with $2 billion in market capitalization and at least 5 million shares in trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR)
Bitmine Immersion rebounded by 12.07 percent on Friday to close at $53.49 apiece as investors gobbled up shares amid Ethereum’s surge to a new record high, buoyed by an overall market optimism.
During the session, the cryptocurrency soared to a new high of $4,866, mirroring an overall rally in both crypto and stocks after Federal Reserve Chairman Jerome Powell hinted at rate cuts beginning next month.
Being Ethereum’s largest treasury holder, investor funds flocked to Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR), with the cryptocurrency currently up by 14 percent.
Last week, the company said that it is now the largest ETH treasury holder globally, owning as much as $6.612 billion of ETH.
In its updated report, it said crypto holdings are comprised of more than 1.5 million ETH with an average price of $4,326 apiece. It also owns 192 Bitcoins in its treasury.
“As we continue to say, we are leading crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock,” said Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR) Chairman Thomas Lee.
“We continue to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” he added. “Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum.”
9. VNET Group, Inc. (NASDAQ:VNET)
VNET Group surged by 12.94 percent on Friday to close at $8.29 apiece after posting a strong revenue performance that beat analyst expectations in the second quarter of the year.
In its updated report, VNET Group, Inc. (NASDAQ:VNET) said that net revenues increased by 22.1 percent to 2.43 billion yuan from 1.99 billion yuan in the same period last year, on the back of a strong internet data center business.
However, VNET Group, Inc. (NASDAQ:VNET) swung to a net loss attributable to shareholders of $11.98 million from a $63.67 million attributable net profit in the same period last year.
In the first half, revenues grew by 20 percent to 4.68 billion yuan from 3.89 billion yuan year-on-year. Net loss widened by 102 percent to 249 million yuan from 123 million yuan in the same period.
“Looking ahead, we will sharpen our competitive advantages with faster deliveries and consistently reliable IDC services as we embark on our ambitious Hyperscale 2.0 framework for building greener, more intelligent data centers for the AI era,” said VNET Group, Inc. (NASDAQ:VNET) founder and Executive Chairman Josh Sheng Chen.
For full-year 2025, the company maintained its revenue target of 9.15 billion yuan to 9.35 billion yuan, representing a year-on-year growth of 11 to 13 percent.
8. Energy Fuels Inc. (NYSEAmerican:UUUU)
Energy Fuels extended its winning streak to a third straight day on Friday, jumping 12.55 percent to close at $10.58 apiece, as investors continued to gobble up shares following news of strong interest for one of its successfully milled rare earth metals.
In a statement earlier this week, Energy Fuels Inc. (NYSEAmerican:UUUU) said it has received strong interest from multiple magnet manufacturers and original equipment manufacturers (OEM) to obtain samples of its dysprosium (Dy) oxide.
This followed the successful production of its first kilogram of the rare earth metal during a pilot scale at its White Mesa Mill in Utah.
According to the company, its production achieved a 99.9 percent purity, well above the 99.5 percent commercial specification.
“The Mill expects to continue producing dysprosium oxide at a rate of two kilograms per week. Energy Fuels believes it is the first US company to both produce high-purity Dy oxide and publicly disclose actual production volumes and purities,” it said.
“[Energy Fuels Inc. (NYSEAmerican:UUUU)] believes the quantity and purity of its Dy oxide production is unmatched in the United States at this time and is a testament to the White Mesa Mill’s world-class rare earth element (REE) production capabilities. Pilot-scale production is expected to continue until approximately 15 kilograms of Dy oxide are produced,” it added.
7. Zoom Communications Inc. (NASDAQ:ZM)
Zoom Communications surged by 12.71 percent on Friday to finish at $82.47 apiece as investors cheered its strong earnings performance and higher growth outlook for the full fiscal year of 2026.
In an updated report on Friday, Zoom Communications Inc. (NASDAQ:ZM) said net income in the second quarter of fiscal year 2026 grew by 63 percent to $358 million from $219 million in the same period last year. Revenues grew by 3.4 percent to $1.2 billion from $1.16 billion, primarily driven by higher revenues from both enterprise and online segments, growing 7 percent and 1.4 percent, respectively, year-on-year.
In the first half, net income increased by 40.9 percent to $613 million from $435 million, while revenues inched up by 3.9 percent to $2.39 billion from $2.3 billion.
Encouraged by the strong results, Zoom Communications Inc. (NASDAQ:ZM) raised its growth outlook for the full fiscal 2026 period, with total revenues now targeted at $4.825 billion and $4.835 billion, compared with the previous outlook of $4.8 billion to $4.81 billion.
6. UP Fintech Holding Ltd. (NASDAQ:TIGR)
UP Fintech rallied for a third consecutive day on Friday, jumping 13.18 percent to close at $12.71 apiece as investors continued to load up positions ahead of its earnings performance in the second quarter of the year.
According to UP Fintech Holding Ltd. (NASDAQ:TIGR), it is scheduled to announce its financial and operating highlights before market open on Wednesday, August 27. An investor call will be held at 8 PM Eastern Time to elaborate on the results.
In the first quarter of the year, UP Fintech Holding Ltd. (NASDAQ:TIGR) reported a stellar earnings performance, with net income attributable to shareholders jumping 147 percent to $30.4 million from $12.3 million in the same period last year. Total revenues grew by 55 percent to $122.6 million from $78.9 million year-on-year.
UP Fintech Holding Ltd. (NASDAQ:TIGR), which owns Tiger Brokers, is an online brokerage firm based in Singapore with operations also in the US and Hong Kong.
5. NIO Inc. (NYSE:NIO)
NIO Inc. (NYSE:NIO) saw its share prices climb by 14.44 percent on Friday to close at $6.34 apiece as investors welcomed the unveiling of its budget-friendly SUV called ES8.
In an interview with CNBC, Morningstar analyst Vincent Sun said that the rally can be owed to expectations of a strong demand in the ES8 and the Onvo L90, which was launched earlier.
NIO Inc. (NYSE:NIO) is scheduled to launch the ES8 next month, with a starting price of 308,800 yuan ($43,000) for the battery subscription plan which will allow owners to upgrade batteries through monthly payments.
The new vehicle measures 5,280 mm in length and 3,130 mm in wheelbase, making it the largest battery electric vehicle in China.
The unveiling followed the company’s slower vehicle deliveries in July. During the period, NIO Inc. (NYSE:NIO) delivered 21,017 vehicles last month, higher by 2.5 percent than the 20,498 in the same month last year, but was notably slower than the double-digit year-on-year growth in the past three months.
June deliveries were higher by 17 percent; May was up by 13 percent; while April increased by 53 percent.
4. SharpLink Gaming, Inc. (NASDAQ:SBET)
SharpLink Gaming soared by 15.69 percent on Friday to finish at $20.87 apiece as investor sentiment was bolstered by Ethereum’s soar to a new record high.
During the session, the cryptocurrency climbed to a new high of $4,866, mirroring an overall rally in both crypto and stocks after Federal Reserve Chairman Jerome Powell hinted at rate cuts beginning next month.
SharpLink Gaming, Inc. (NASDAQ:SBET), one of the largest Ethereum treasury owners globally, rallied alongside Bitmine Immersion Technologies Inc. (NYSEAmerican:BMNR), with both companies concentrated on the said cryptocurrency.
Earlier this week, SharpLink Gaming, Inc. (NASDAQ:SBET) was able to raise its ETH treasury to more than $3.2 billion following the acquisition of 143,593 ETH at an average price of $4,648 for a total of $667 million.
It also successfully raised $1 billion in fresh funds in the past few months, proceeds of which are allocated for the acquisition of more Ethereum coins.
3. ACM Research, Inc. (NASDAQ:ACMR)
ACM Research saw its share prices jump by 19.21 percent on Friday to close at $30.53 apiece after seven consecutive days of sideways trading, thanks to an overall market optimism buoyed by the central bank’s rate cut signals.
In other company-specific news, ACM Research, Inc. (NASDAQ:ACMR) reported a better earnings performance in the second quarter of the year, with attributable net income jumping 23 percent to $29.76 million from $24.21 million in the same period last year.
Revenues were also higher by 6 percent to $215 million from $202 million year-on-year.
In the first half, attributable net income rose by 20 percent to $50.14 million from $41.64 million, while revenues increased by 9 percent to $387.7 million from $354.67 million year-on-year.
Boosted by the strong earnings performance during the past quarters, ACM Research, Inc. (NASDAQ:ACMR) said it was maintaining its growth outlook for the year, with revenues targeted to hit $850 million to $950 million.
“This expectation is based on ACM management’s current assessment of the continuing impact from international trade policy, together with various expected spending scenarios of key customers, supply chain constraints, and the timing of acceptances for first tools under evaluation in the field, among other factors,” it said.
2. MINISO Group Holding Ltd. (NYSE:MNSO)
MINISO Group extended its winning streak to a third straight day on Friday, soaring 20.12 percent to close at $26.63 apiece after exceeding its revenue growth guidance for the second quarter of the year.
In an updated report, MINISO Group Holding Ltd. (NYSE:MNSO) said revenues increased by 23 percent to 4.97 billion yuan from 4.03 billion yuan in the same quarter last year, beating its growth guidance range of 18 to 21 percent.
Additionally, all three operating segments achieved a marked sequential improvement in same-store sales growth (SSSG) during the quarter, propelling its group-level SSSG into positive territory after a mid-single digit contraction last quarter.
Net income attributable to shareholders, meanwhile, was lower by 16.7 percent to $489.7 million from $587.6 million year-on-year.
Following the results, investment firm Jefferies turned bullish for MINISO Group Holding Ltd. (NYSE:MNSO), giving the stock a “buy” recommendation versus “hold” previously. It also raised its price target to $26.2 from $18.5 before.
Additionally, MINISO Group Holding Ltd. (NYSE:MNSO) said its board of directors approved the distribution of cash dividends worth $0.2896 per ADS or $0.0724 per ordinary share, to holders of the said securities as of September 5, 2025 (New York Time).
The ex-dividend date for ordinary shareholders in Hong Kong will be on September 4, while that for ADS holders will be on September 5.
The dividends are payable on September 16, 2025, for ordinary shareholders, and on September 19 for ADS holders.
1. Opendoor Technologies Inc. (NASDAQ:OPEN)
Opendoor Technologies soared to a new all-time high on Friday, as investor optimism was bolstered by signals of rate cuts beginning next month—a key catalyst for the interest-sensitive residential market.
During the session, Opendoor Technologies Inc. (NASDAQ:OPEN) climbed to its highest price of $5.08 before a slight selling pulled the company down to end the day just up by 39.17 percent at $5.01 apiece.
This followed signals from Federal Reserve Chairman Jerome Powell that the central bank could begin slashing interest rates beginning next month, sparking rosy prospects for the residential market on expectations of lower borrowing costs for prospective homebuyers.
In recent news, Opendoor Technologies Inc. (NASDAQ:OPEN) announced the immediate resignation of CEO Carrie Wheeler, who took over the role in 2022 but failed to reassure investors of the ongoing turnaround efforts. She was temporarily replaced by chief technology officer Shrisha Radhakrishna while a permanent CEO has yet to be named.
While we acknowledge the potential of OPEN 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 OPEN and that has 100x upside potential, check out our report about the cheapest AI stock.
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