10 Stocks With Surprising Gains Amid Market Meltdown

Profit-taking persisted on the broader market on Tuesday, with all major indices finishing in the red, while investors digested a new round of trade talks scheduled this week.

Among Wall Street’s main indices, the Nasdaq led the drop with 0.65 percent, followed by the S&P 500 at 0.49 percent, and the Dow Jones at 0.14 percent.

Meanwhile, 10 companies stood firm, defying the broader downturn amid company-specific catalysts, including earnings and a higher growth outlook that sparked buying appetite.

In this article, we highlight the 10 companies that boasted a strong performance during the past session and break down the reasons behind their gains.

To compile the list, we focused on stocks with at least $2 billion in capitalization and more than 5 million shares in trading volume.

Stock market data on a laptop screen. Photo by Alesia Kozik on Pexels

10. Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR)

Bitmine snapped a two-day losing streak on Tuesday, jumping 6.97 percent to close at $33.3 apiece as investor sentiment was boosted by its $3-billion acquisition of Ethereum coins.

Just recently, Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) purchased more than 833,000 ETH at a price of $3,491.86 apiece as part of its ETH Treasury program announced on June 30.

“BitMine moved with lightning speed in its pursuit of the ‘alchemy of 5 [percent]’ of ETH growing our ETH holdings to over 833,000 from zero 35 days ago,” said Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) Chairman Thomas Lee.

“We have separated ourselves among crypto treasury peers by both the velocity of raising crypto NAV per share and by the high liquidity of our stock,” he added.

Bitmine Immersion Technologies, Inc. (NYSEAmerican:BMNR) is a Bitcoin and Ethereum Network Company with a focus on the accumulation of Crypto for long-term investment.

9. Palantir Technologies Inc. (NASDAQ:PLTR)

Palantir extended its rally for a second day on Tuesday, rising 7.85 percent to close at $173.27 apiece as investor sentiment was bolstered by its impressive earnings performance, having cracked past the $1-billion revenue mark on a quarter basis.

In a statement on Tuesday, Palantir Technologies Inc. (NASDAQ:PLTR) said revenues in the second quarter of the year jumped by 48 percent to $1 billion from $678 million in the same period last year, pushing net income attributable to shareholders to expand by 144 percent to $326.7 million from $134 million year-on-year.

Revenues in the six-month period alone jumped by 44 percent to $1.89 billion from $1.31 billion, while net income attributable to shareholders increased by 126 percent to $540.7 million from $239.6 million year-on-year.

“This was a phenomenal quarter. We continue to see the astonishing impact of AI leverage,” said Palantir Technologies Inc. (NASDAQ:PLTR) co-founder and CEO Alex Karp.

For the third quarter, Palantir Technologies Inc. (NASDAQ:PLTR) expects revenues to hit $1.083 billion to $1.087 billion, while the full-year was pegged at $4.142 billion to $4.15 billion.