10 Firms With Massive Gains; 5 at Record Highs

Ten stocks stood firmer on Wednesday, bucking a mixed performance on the broader market, as investors digested a flurry of positive company-specific developments. Of the said firms, five notably soared to new record highs.

Meanwhile, only the Nasdaq finished in the green among Wall Street’s three main indices, inching up by 0.16 percent. The Dow Jones and the S&P 500 both fell by 0.94 percent and 0.34 percent, respectively.

Indices aside, this article spotlights the 10 top-performing stocks on Wednesday and detail the reasons behind their gains.

To come up with the list, we focused exclusively on stocks with a market capitalization of at least $2 billion.

10. Credo Technology Group Holding Ltd. (NASDAQ:CRDO)

Credo Technology snapped a four-day losing streak on Wednesday, jumping 6.05 percent to close at $141 apiece as investors repositioned portfolios ahead of the release of business updates next week.

In a statement, Credo Technology Group Holding Ltd. (NASDAQ:CRDO) said that its President and Chief Executive Officer Bill Brennan and Chief Finance Officer Dan Fleming would present at the 28^th Annual Needham Growth Conference on Wednesday, January 14. Investors will be closely watching out for cues about its strategies and outlook for 2026.

In the past few days of the year, Mizuho Securities issued a “buy” recommendation for Credo Technology Group Holding Ltd. (NASDAQ:CRDO), saying that the company’s recent price weakness could be a huge opportunity to load up on its shares.

This followed the company’s 20 percent drop over the past 30 days, as well as the 2.01 percent decline in just the past four trading days of the year.

According to Mizuho, the stock’s decline was “overblown” triggered by fears of a potential market share loss and losing one of its major clients, Amazon, for the spotted orange and blue cables at the latter’s data centers, versus Credo’s purple cables.

Mizuho, however, clarified that Amazon had requested Credo Technology Group Holding Ltd. (NASDAQ:CRDO) to change the cable colors for internal logistics purposes.

9. Primo Brands Corp. (NYSE:PRMB)

Primo Brands rebounded by 6.27 percent on Wednesday to finish at $17.12 apiece as investors loaded portfolios ahead of expected business updates from its participation in a virtual fireside chat on the same day.

The company said that its chief executive officer, Eric Foss, and chief finance officer, David Hass, have joined a fireside chat with RBC Capital on the same day, where investors expected to hear its cues about last year’s performance as well as its outlook for 2026.

In its latest earnings call, Primo Brands Corp. (NYSE:PRMB) said that it was targeting net sales for full-year 2025 to decline by low single digits, as well as adjusted EBITDA between $1.44 billion to $1.46 billion.

In the third quarter of 2025 alone, Primo Brands Corp. (NYSE:PRMB) grew its net sales by 35.3 percent to $1.766 billion from $1.305 billion in the same period in 2024, with growth primarily driven by driven by net sales attributable to Primo Water due to the merger transaction and increased volumes attributable to BlueTriton.

However, net income fell by 68 percent to $16.8 million from $53.3 million year-on-year.

This year, Primo Brands Corp. (NYSE:PRMB) said that it was targeting to hit $300 million in cost savings.