Ten stocks capped off the trading week outperforming a lackluster broader market performance, as investor sentiment was fueled by a series of catalysts, including company-specific developments and bullish analyst ratings, among others.
Meanwhile, only the tech-heavy Nasdaq registered gains among all Wall Street’s main indices, up 0.44 percent. The Dow Jones and the S&P 500 were down by 0.59 percent and 0.05 percent, respectively.
In this article, we name Friday’s top-performing stocks and break down 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.
Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels
10. Avidity Biosciences Inc. (NASDAQ:RNA)
Avidity snapped a four-day losing streak on Friday, adding 9.02 percent to close at $44.74 apiece as investors took path from a higher price target and rating for its stock.
In a market note, BofA Securities gave a “buy” recommendation for Avidity Biosciences Inc.’s (NASDAQ:RNA) stock with a price target of $65, an increase from the $56 previously. The new figure marked a 45 percent upside from its latest closing price.
According to the investment firm, the stock’s current price weakness could present a significant opportunity to load up on shares.
The revision followed Avidity Biosciences Inc.’s (NASDAQ:RNA) announcement of a $500 million share sale issuance in a bid to raise funds for the development of three late-stage clinical trials, support commercial inventory ahead of planned launches, as well as the expansion of commercial infrastructure and its AOC platform.
In relation to the offer, Avidity Biosciences Inc. (NASDAQ:RNA) granted its underwriters an overallotment option of up to $75 million within 30 days from the offer date.
“There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering,” the company noted.
9. Rocket Lab Corp. (NASDAQ:RKLB)
Rocket Lab rallied to a new all-time high on Friday, as investors repositioned portfolios ahead of an expected mission launch for the National Aeronautics and Space Administration (NASA) in the next few weeks.
At intra-day trading, the stock rallied to its highest 52-week price of $54.03 before trimming gains to end the day just up by 10.14 percent at $53.34 apiece.
Based on a space tracking website’s bulletin, Rocket Lab Corp. (NASDAQ:RKLB) is set to launch a Hypersonic Accelerator Suborbital Test Electron (HASTE) rocket for NASA at the latter’s Wallops Flight Facility in Virginia later this month. The specific date, however, has not been divulged.
The HASTE rocket would follow Rocket Lab Corp.’s (NASDAQ:RKLB) successful launch of its 70th mission into space last month, solidifying its position as one of the leading launch companies globally.
Called the “Live, Laugh, Launch” mission, five Electron rockets lifted off from Rocket Lab Corp.’s (NASDAQ:RKLB) Launch Complex 1 in Mahia, New Zealand.
On September 29, Jeff Bezos’ Blue Origin is also expected to launch NASA’s Escapade mission on the second flight of the New Glenn rocket. The two Escapade probes were built by Rocket Lab Corp. (NASDAQ:RKLB) and will be operated by the Berkeley Space Sciences Laboratory of the University of California.
The mission aims to analyze the magnetic field on Mars.
8. Medical Properties Trust, Inc. (NYSE:MPW)
Shares of Medical Properties jumped by 11.28 percent on Friday to end at $5.13 apiece as investors gobbled up shares following the ex-dividend date for its next quarterly dividend payment.
On October 9, shareholders of Medical Properties Trust, Inc. (NYSE:MPW) as of September 11 record are set to receive 8 cents worth of dividends for every share they hold.
This year alone, Medical Properties Trust, Inc. (NYSE:MPW) has already successfully paid out $0.24 in dividends to its shareholders.
The dividend distribution followed the company’s impressive earnings performance in the second quarter of the year. During the period, net loss attributable to shareholders narrowed by 69 percent to $98.3 million from $320.6 million in the same period last year. Total revenues declined by 9.77 percent to $240 million from $266 million year-on-year.
In recent news, Medical Properties Trust, Inc. (NYSE:MPW) successfully secured a $45 million annual lease agreement with NOR Healthcare Systems Corp. for six of its facilities.
Medical Properties Trust, Inc. (NYSE:MPW) has committed to finance up to $60 million in seismic improvements as may be required by regulators over the next four years, which could increase the lease base and result in additional rent.
7. QuantumScape Corp. (NYSE:QS)
Shares of QuantumScape grew for a second day on Friday, adding 12.43 percent to close at $9.95 apiece as investors turned optimistic about the launch of the electric Ducati V21L, which uses Cobra-processed batteries.
Earlier this week, PowerCo, a subsidiary of the Volkswagen Group, alongside QuantumScape Corp. (NYSE:QS), showcased the electric version of the Ducati V21L, equipped with QSE-5 battery cells.
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 percent to 80 percent state of charge, and 10C continuous discharge,” QuantumScape Corp. (NYSE:QS) said in a statement earlier.
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.
6. Eos Energy Enterprises, Inc. (NASDAQ:EOSE)
Eos Energy jumped by a second day on Friday to hit a new all-time high, as investors took heart from the launch of a new software that aims to easily manage large-scale energy storage .
During the session, the stock surged to its highest price of $8.24 before slightly pulling back to end the day just up by 13.57 percent at $8.20 apiece.
Earlier this week, Eos Energy Enterprises, Inc. (NASDAQ:EOSE) unveiled the DawnOS—a new system built with advanced analytics and real-time operational intelligence. It utilizes advanced State of Charge (SoC) to accurately track available energy, State of Health (SoH) to detect and correct imbalances between battery strings, reducing operating costs, and State of Energy (SoE) algorithms to estimate site-wide energy capacity, enabling precise grid dispatch, revenue optimization, and improved grid coordination.
According to Eos Energy Enterprises, Inc. (NASDAQ:EOSE), DawnOS enables superior distributed control down to the independent battery module level, driving better system balancing, automated operations, and increased site availability.
As the company caters to the larger commercial and industrial customers, the DawnOS is a huge support to the increased demand for energy from the growing artificial intelligence sector, by making the large-scale battery storage systems more reliable and secure.
5. Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing grew its share prices to a new eighth-month high on Friday, as investors loaded positions despite the lack of catalysts to spark buying appetite.
At intra-day trading, Rigetti Computing, Inc. (NASDAQ:RGTI) touched an eighth-month high of $20.13, just $1.29 shy of its 52-week peak of $21.42. Gains, however, were trimmed towards the end, after closing up by 14.38 percent at $19.09 apiece.
Earlier this month, Rigetti Computing, Inc. (NASDAQ:RGTI) said it joined forces with the Centre for Development of Advanced Computing (C-DAC), India’s premier research and development organization of the Ministry of Electronics and Information Technology, for the co-development of hybrid quantum computing systems to support government laboratories and academics pursuing quantum computing R&D.
“By joining C-DAC’s renowned leadership in high-performance computing (HPC) solutions with Rigetti’s expertise in superconducting quantum computing systems, we have the opportunity to design and deliver powerful and practical hybrid computing systems,” said Rigetti Computing, Inc. (NASDAQ:RGTI) CEO Subodh Kulkarni.
“We look forward to this collaboration and advancing the state-of-the-art in hybrid computing technology,” he added.
4. Bitdeer Technologies Group (NASDAQ:BTDR)
Bitdeer Technologies saw its share prices jump by 14.46 percent on Friday to finish at $16.15 apiece as investors welcomed its impressive Bitcoin mining operations last month.
In an updated report, Bitdeer Technologies Group (NASDAQ:BTDR) said it was able to mine 375 new Bitcoins in August, marking a 33 percent improvement from only 282 units mined in July this year.
This followed an increase in its self-mining hash rate of 30 EH/s, versus 22.3 EH/s the month prior.
Looking ahead, Bitdeer Technologies Group (NASDAQ:BTDR) said it was on track to achieve its ambitious target of 40 EH/s of self-mining by the end of October 2025.
“Over the coming quarters, we will continue expanding our SEALMINER fleet into our near-term global power capacity, putting us on track to become one of the largest vertically integrated miners in the world,” said Chief Business Officer Matt Kong.
In other news, Bitdeer Technologies Group (NASDAQ:BTDR) is wiping out its debt early with the redemption of $7.7 million worth of notes in relation to its 8.5 percent convertible senior notes due 2029.
The company said it would pay the notes on September 23, 2025, covering the aggregate principal amount and all accrued and unpaid interest.
Noteholders, however, still have the option to convert the notes into shares of the company, equivalent to 127.9743 Class A ordinary shares for every $1,000 principal amount of the notes. The conversion includes an increase to the conversion rate of 10.9536 Class A ordinary shares per $1,000 principal amount of the notes as a result of the notes being called for cleanup redemption.
3. Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR)
Bitmine extended its winning streak to a fifth consecutive day on Friday, adding 15.28 percent to end at $55.09 apiece after raising its Ethereum ownership to $9.21 billion and setting sights on the Worldcoin token.
In a statement, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) said it was able to surpass the 2 million ETH milestone last week, bringing its total ownership to 2.07 million ETH at an average price of $4,312 apiece.
It also holds 192 Bitcoins and unencumbered cash of $266 million.
Additionally, it recently invested $20 million in Eightco Holdings Inc. (NASDAQ: OCTO) to support the latter’s acquisition of Worldcoins (WLD) as its primary treasury asset.
Worldcoin, an ERC-20 token, captures a zero-knowledge proof of a person’s humanity, a critical asset in an increasingly agentic-AI world.
“BitMine wants to support and back innovative projects that create value for the Ethereum ecosystem. As an ERC-20 native token, World is aligned with Ethereum. World’s unique zero-knowledge Proof of Human credential could be essential to future trust and safety between technology platforms and the billions of human users,” 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. 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,” he added.
2. Warner Bros. Discovery, Inc. (NASDAQ:WBD)
Warner Bros extended its winning streak to a third consecutive day on Friday, to hit another all-time high, as investors continued to snap up shares following reports of that it was being targeted for acquisition by Paramount Skydance Corp. (NASDAQ:PSKY).
Earlier this week, the Wall Street Journal reported, citing people privy to the matter, that Paramount was preparing a majority cash bid to acquire Warner Bros. Discovery, Inc. (NASDAQ:WBD), including its cable networks and movie studio.
WSJ said a bid has yet to be submitted, and plans could still fall apart.
If successful, the acquisition plan would likely require an antitrust investigation given the potential size and merger with a number of Warner Bros. Discovery, Inc. (NASDAQ:WBD) assets, such as HBO Max, Barbie, and the Harry Potter franchise, with Paramount’s film studio, CBS News, and Paramount+.
The purported bid followed the completion of Paramount and Skydance’s $8.4 billion merger, ending RedBird’s 38-year control of the former.
1. IonQ, Inc. (NYSE:IONQ)
Shares of IonQ propelled to a new record high on Friday following news that it officially secured the green light of the UK government for its $1 billion acquisition of Oxford Ionics.
At intra-day trading, the stock soared to its highest 52-week price of $56.07 before trimming gains to end the day just up by 18.19 percent at $55.61 each.
Having satisfied all regulatory requirements and secured the approval, IonQ, Inc. (NYSE:IONQ) said it was looking forward to closing the deal in the near term.
IonQ, Inc. (NYSE:IONQ) announced the merger plan with Oxford Ionics in June, saying that the move was in line with its plans to expand its research expertise in the quantum computing sector.
Oxford Ionics’ work is focused on novel methods of controlling qubits, the fundamental unit of quantum computers that much of modern quantum research is centered on. Its founders, Chris Balance and Tom Harty, will remain with IonQ, Inc. (NYSE:IONQ) following the completion of the merger.
IonQ, Inc. (NYSE:IONQ) will acquire the company in a mix of cash and stock transaction, with the number of shares depending on its stock price over a 20-day period before the deal closes.
While we acknowledge the potential of IONQ 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 IONQ and that has 100x upside potential, check out our report about the cheapest AI stock.
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