The stock market finished the trading week in the green territory as investors looked past the series of mixed corporate earnings performance and inflation worries, amid the easing trade tensions between the US and China.
The Dow Jones climbed by 0.78 percent, while the S&P 500 and the tech-heavy Nasdaq grew by 0.70 percent and 0.52 percent, respectively.
Beyond major indices, 10 companies—predominantly Bitcoin miners and quantum computing firms—registered a strong finish, thanks to fresh corporate developments boosting investor appetite.
In this article, we name Friday’s 10 top performers and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.
10. IREN Ltd. (NASDAQ:IREN)
Shares of IREN Ltd. bounced back by 8.52 percent on Friday to close at $8.41 apiece following a strong earnings performance in the third quarter of fiscal year 2025.
During the quarter ending March, IREN Ltd. (NASDAQ:IREN) said net income increased by 28 percent to $24.2 million from $18.9 million in the same period last year.
Revenues reached $148.1 million, with the largest share owed to revenues from Bitcoin mining, with $141. million versus $113.5 million in the same period last year.
Looking ahead, IREN Ltd. (NASDAQ:IREN) said that it is set to pause further mining expansion to focus on scaling its Artificial Intelligence infrastructure initiatives.
Data centers “Horizon 1 and Sweetwater anchor the next phase of our growth, with both projects placing IREN at the forefront of accelerating AI data center demand,” said IREN Ltd. (NASDAQ:IREN) co-founder and co-CEO Daniel Roberts.
9. Coinbase Global, Inc. (NASDAQ:COIN)
Coinbase Global rebounded on Friday, jumping 9.01 percent to close at $266.46 apiece, as investor funds flew back to its stock ahead of its official inclusion in the S&P 500 index.
By May 19, Coinbase Global, Inc. (NASDAQ:COIN) will replace Discover Financial Services, which ended its 12-year tenure in the index after its planned merger with fellow S&P 500 component, Capital One Financial.
Friday’s trading also showed that investors have priced in the company’s recent customer data hacking incident, which demanded that Coinbase Global, Inc. (NASDAQ:COIN) pay some $20 million in ransom, and could cost the company between $180 million and $400 million to fix issues and reimburse customers.
In the first quarter of the year, Coinbase Global, Inc. (NASDAQ:COIN) said net income nosedived by 94 percent to $66 million from $1.176 billion reported in the same period last year.
Net revenues, however, were higher by 23.4 percent to $1.96 billion from $1.588 billion year-on-year.
8. Archer Aviation Inc. (NYSE:ACHR)
Archer Aviation rallied for an eighth consecutive day on Friday, jumping 9.11 percent to close at $13.30 apiece following news that it was tapped as the official air taxi partner of the 2028 Los Angeles Summer Olympics and Paralympic Games.
During the games, Archer Aviation Inc. (NYSE:ACHR) is set to feature its fleet of electric vertical takeoff and landing (eVTOL) aircraft, including the Midnight model, which can accommodate up to four passengers.
However, the aircraft has yet to secure the green light of the US Federal Aviation Administration (FAA). Archer Aviation Inc. (NYSE:ACHR) said it expects to receive the certification by the end of the year.
Once its air taxis kick off commercial operations, users are expected to be able to hail an air taxi through an application.
Goldstein said fares should be priced in line with Uber premium rides.
Archer Aviation Inc. (NYSE:ACHR) expects to launch its Midnight model in the UAE in the next few months, for its planned launch later this year.
7. Hims & Hers Health, Inc. (NYSE:HIMS)
Hims & Hers grew its share prices by 10.36 percent on Friday to close at $64.65 apiece as investors resorted to bargain-hunting following two straight days of decline.
Just recently, companies under the healthcare sector, including Hims & Hers Health, Inc. (NYSE:HIMS), were battered by President Donald Trump’s newly signed executive order earlier this week aimed at lowering the costs of drugs in the country. While the initiative would particularly benefit end-consumers, it would, on the other hand, dent drugmakers’ profits and margins.
In its latest earnings release, Hims & Hers Health, Inc. (NYSE:HIMS) said that its net income expanded by 346 percent to $49.5 million from the $11.1 million registered in the same period last year, while revenues soared by 111 percent to $586 million from $278.2 million year-on-year.
The company said that its strong performance underpinned its updated 2025 guidance, with full-year revenues expected to settle between $2.3 billion and $2.4 billion, and the second quarter to end at $530 million to $550 million.
6. Bitdeer Technologies Group (NASDAQ:BTDR)
Bitdeer Technologies rallied by 10.63 percent on Friday to end at $15.19 apiece after reporting a strong earnings performance in the first quarter of the year.
In a statement, Bitdeer Technologies Group (NASDAQ:BTDR) said net income expanded to $409 million from only $606,000 in the same period last year, despite revenues dropping by 41 percent to $70 million from $119 million year-on-year.
Looking ahead, Bitdeer Technologies Group (NASDAQ:BTDR) said its research and development efforts will focus on its Sealminer A4 project, which it targets to be more efficient.
“We believe this new chip design will revolutionize the way Bitcoin mining ASICs are made in the future and tape-out is on track for Q4 2025. We believe SEALMINER A4, along with our 3rd generation chip, will position Bitdeer as the leading supplier of the world’s most energy-efficient mining rigs,” the company said.
5. QuantumScape Corporation (NYSE:QS)
QuantumScape Corporation rallied by 11.03 percent on Friday to close at $4.73 apiece as investor sentiment was boosted by a series of regulatory filings that included the naming of a new chief operating officer.
Last week, QuantumScape Corporation (NYSE:QS) named Luca Fasoli as its new chief operating officer. Before joining QuantumScape Corporation (NYSE:QS), he held key leadership positions at Western Digital (NASDAQ: WDC), including Senior Vice President of Memory Productization, where he guided the global transition of 3D NAND Flash technology from development to production across multiple international sites.
He also spent a decade at SanDisk Corporation (NASDAQ: SNDK), serving in pivotal roles such as Vice President of Product Development, Senior Director of the Intelligent Memory System, and Senior Director of Product Development.
On Friday, Fasoli gobbled up 1.3 million shares in the company, which forms part of his compensation package.
4. D-Wave Quantum Inc. (NYSE:QBTS)
D-Wave Quantum saw its share prices increase by 11.06 percent on Friday to finish at $12.25 apiece as investor sentiment was boosted by its strong earnings performance in the first quarter of the year.
In a statement, D-Wave Quantum Inc. (NYSE:QBTS) said it narrowed its net loss by 69 percent to $5.4 million from the $17.3 million registered in the same period last year, thanks to a $12.2-million increase in gross profit associated with the sale of a quantum computing system.
Revenues for the period expanded by 509 percent to $15 million from $2.5 million year-on-year, primarily driven by the sale of a quantum computing system during the period.
“The first quarter of 2025 was arguably the most significant in D-Wave’s history, especially in terms of our unique ability to deliver quantum value today to our customers and the scientific community,” said D-Wave Quantum Inc. (NYSE:QBTS) CEO Alan Baratz.
“We recognized revenue on our first Advantage system sale to a major research institution, moved an additional customer application into commercial production, and became the first to demonstrate quantum supremacy over classical computing on a useful real-world problem. The end result was a record revenue and gross profit quarter,” he noted.
3. Pony AI Inc. (NASDAQ:PONY)
Pony AI snapped its three-day losing streak on Friday, jumping 13.94 percent to finish at $18.43 apiece as investors resorted to bargain-hunting following the previous days’ drop.
Earlier this week, Pony AI Inc. (NASDAQ:PONY) took a beating from news that one of its robotaxis caught fire during a routine test in Beijing, sparking investor concerns about the safety of autonomous driving technologies.
The robotaxi reportedly left the roadway and was later captured blazing.
According to Pony AI Inc. (NASDAQ:PONY), the fire detected an “abnormal status” during operation and immediately triggered its safety protection mechanism, leading the vehicle to a full stop.
Meanwhile, the company officially filed its intention to list publicly on the Hong Kong Stock Exchange, as Chinese firms seek to find a backup plan over fears that the trade war between the US and China could force their delisting from US stock exchanges.
2. CoreWeave, Inc. (NASDAQ:CRWV)
CoreWeave Inc. jumped by 22.09 percent on Friday to end at $80.30 apiece as investors snapped up shares in the company after bagging a new $4-billion deal with OpenAI.
In a regulatory filing on Thursday, CoreWeave, Inc. (NASDAQ:CRWV) said it entered into a four-year agreement with OpenAI for some $4 billion worth of additional services.
The news followed the company’s release of a strong revenue performance in the first quarter of the year.
In a statement, CoreWeave, Inc. (NASDAQ:CRWV) said revenues expanded by 420 percent to $981.6 million from $188.7 million in the same period last year.
Net loss attributable to shareholders, however, widened by 188 percent to $370 million from $129 million year-on-year.
During the period, the company’s key wins include an $11.2-billion strategic deal with OpenAI and a partnership with IBM to deliver compute capacity for the latter’s Granite models.
1. ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD)
Acadia Pharmaceuticals soared by 26.48 percent on Friday to finish at $22.26 apiece after securing the backing of a US District Court concerning a patent infringement case versus Aurobindo Pharma (NSE:ARBN).
The case stemmed from a case filed by ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) against Aurobindo for allegedly infringing claims 4 and 5 of US Patent No. 11,452,721. It is alleged that the latter committed patent infringement of its drug Nuplazid.
Additionally, the judge said that Aurobindo failed to prove that ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) claims were invalid.
The ruling marked a significant milestone for ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) to protect its intellectual property rights.
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