In this article, we deep dive into the 5 stocks with the highest gains on Monday. For a deeper discussion and an extended list, please see 10 Stocks Stealing the Spotlight from Wall Street Giants.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
5. AXT Inc. (NASDAQ:AXTI)
AXT Inc. saw its share prices jump by 13.95 percent on Monday to close at $110.74 apiece, as investors resorted to bargain-hunting after it crashed below the $100 level last week.
The stock mirrored optimism in the overall market after President Donald Trump announced that the US and Iran have officially reached a deal to end their four-month war and reopen the Strait of Hormuz.
“I am very happy to say: it’s signed, the deal is all signed,” Trump said during a meeting with French President Emmanuel Macron on the same day.
The positive news spilled over to US markets. Wall Street’s three major indices, Dow Jones, S&P 500, and Nasdaq all clocked gains of 0.92 percent, 1.65 percent, and 3.07 percent, respectively.
For AXT Inc. (NASDAQ:AXTI), the easing tensions between the two nations could support supply chain and logistics for strategic materials, including indium phosphide, which is highly needed in AI data centers, telecommunications, and high-speed electronics, among others.
In other news, AXT Inc. (NASDAQ:AXTI) is set to participate in a virtual conference to be organized by Northland Securities on June 23. Investors are expected to watch for cues about its performance in the second quarter of the year.
In its last earnings call, AXT Inc. (NASDAQ:AXTI) remained optimistic about its outlook for its business, saying that it believes it is “in the best position to support and enable our industry in meeting the current and future needs.”
4. Western Digital Corp. (NASDAQ:WDC)
Western Digital extended its winning streak to a third consecutive day on Monday to hit a new all-time high, as investors took path from Morgan Stanley’s 33 percent price target upgrade and bullish coverage for its stock.
In intra-day trading, the stock climbed to its highest price of $658.80 before trimming gains to end the session just up by 16.10 percent at $653.53 apiece.
In a market note, Morgan Stanley reiterated its “overweight” rating on shares of Western Digital Corp. (NASDAQ:WDC), alongside a price target of $650, a marked upgrade from its $488 target previously.
Morgan Stanley said that the coverage reflected Western Digital Corp.’s (NASDAQ:WDC) dual-tracked UltraSMR/HAMR roadmap, which it believes investors continue to undervalue, saying that the latter is a source of reliability and strength rather than a technology gap versus its peers.
The investment firm also raised its earnings estimates for the storage maker to $22.40 and $43.47 for next year and in 2028, respectively.
It said that the company’s stock price holds the potential to double next year if his bull-case pricing assumptions play out.
3. Xanadu Quantum Technologies Ltd. (NASDAQ:XNDU)
Xanadu Quantum saw its share prices increase by 18.24 percent on Monday to finish at $13.94 apiece, as investor optimism was primarily driven by the US and Iran’s official deal to end a four-month-long war.
The stock mimicked the rally in the broader market, with investors particularly increasing their exposure to high-growth industries and sectors that earned the support of the US government.
Following the news, Xanadu Quantum Technologies Ltd. (NASDAQ:XNDU) rallied alongside its quantum computing counterparts, including D-Wave, Infleqtion, Rigetti, and IonQ, among others.
The rally was further supported by a new accomplishment last week, which saw the successful lowering of signal loss in connecting optical fibers to its quantum computing chips.
The project, which was developed in partnership with Corning Inc. and Disco Corp., successfully achieved an average 0.085 dB/facet edge-coupling loss, a critical metric for the feasibility and performance of photonic quantum computers.
A lower edge-coupling loss means that more light particles could pass through traditional electronic circuits and lower signal loss, thereby improving the performance of its quantum computers.
“Minimizing loss is paramount to unlocking the full potential of photonic quantum computing,” founder and CEO Christian Weedbrook said.
“This loss achievement of 0.085 dB/facet is not just an incremental improvement; it represents a significant leap forward in our ability to deliver highly-efficient and scalable quantum hardware. It underscores the power of our hardware development approach, from chip design to final packaging,” he noted.
2. Space Exploration Technologies Corp. (NASDAQ:SPCX)
SpaceX soared on its second day as a publicly listed company, jumping 19.60 percent to close at $192.50 apiece, amid a combination of broader market optimism, thanks to the US and Iran’s deal to end the war, while investors increased their exposure in stocks riding the AI wave.
Since it debuted on the stock market last Friday, Space Exploration Technologies Corp. (NASDAQ:SPCX) has already seen its valuation climb to $2.44 trillion, making it one of the most valuable companies in the US markets.
The rally can be primarily attributed to an overall optimism for the space sector, with the Elon Musk-led firm planning to invest heavily in orbital data centers in space to support the rapidly accelerating AI.
Space Exploration Technologies Corp. (NASDAQ:SPCX) was able to raise $75 billion in fresh funds for its space exploration initiatives.
In its prospectus, Space Exploration Technologies Corp. (NASDAQ:SPCX) said that proceeds from the offer will be used “to fund our growth strategy, including the expansion of our AI compute infrastructure, enhancements to our launch infrastructure and launch vehicles, increases in the scale and capacity of our satellite constellations, and any remaining amounts for general corporate purposes.”
1. Intellia Therapeutics Inc. (NASDAQ:NTLA)
Intellia saw its share prices soar by 23.20 percent to close at $14.92 apiece, as investors took heart from the encouraging results from Lonvo-Z, its treatment candidate for hereditary angioedema (HAE).
In a report over the weekend, Intellia Therapeutics Inc. (NASDAQ:NTLA) said that Lonvo-Z met its primary endpoint, with an 87 percent reduction in mean monthly attacks in the Lonvo-Z arm vs. the placebo group, from weeks 5 to 28.
Of the enrolled patients, 62 percent in the Lonvo-Z arm were entirely attack-free and therapy-free for the six-month efficacy evaluation period, compared with 11 percent of patients in the placebo arm.
The treatment candidate also showed favorable safety and tolerability data.
“These are the first Phase 3 results to deliver on the much-heralded promise of in vivo CRISPR gene editing,” Intellia Therapeutics Inc. (NASDAQ:NTLA) President and CEO John Leonard said.
“Regardless of age or prior use of long-term prophylaxis therapies, it was observed that a single Lonvo-z treatment significantly reduced HAE attacks for all patients during the efficacy evaluation period, with all patients remaining LTP-free as of the data cutoff. We thank the many patients, physicians, and caregivers who participated in HAELO and are excited to be advancing this highly differentiated candidate toward a potential approval.”
Intellia Therapeutics Inc. (NASDAQ:NTLA) said that it remains on track to launch the treatment in the first half of 2027. A rolling biologics license application was submitted in April to the US Food and Drug Administration.
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