In this article, we deep dive into the 5 stocks delivering huge double-digit gains. For a deeper discussion and an extended list, please see 10 Stocks With Remarkable Gains.
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5. Lightwave Logic Inc. (NASDAQ:LWLG)
Lightwave Logic extended its winning streak to a third consecutive day on Friday, to hit a fresh four-year high, as investors positioned portfolios ahead of its annual stockholders’ meeting.
At intra-day trade, the stock climbed to a record high of $17.28 before trimming gains to end the session just up by 18.59 percent at $16.27 apiece.
In a notice, Lightwave Logic Inc. (NASDAQ:LWLG) said that it will hold a shareholders’ meeting on May 21, 2026, where investors are expected to watch for business updates, strategies, and outlook for the short-term period.
In other news, Lightwave Logic Inc. (NASDAQ:LWLG) announced that its high-speed modulator platform was made available as part of the GDSFactory process design kit, which GlobalFoundries uses for its silicon photonics manufacturing platform.
Lightwave Logic Inc. (NASDAQ:LWLG) said that it partnered with GDSFactory for the integration of its polymer-based modulator technology into the GDSFactory PDK, enabling customers to incorporate high-speed electro-optic polymer modulators directly into their photonic integrated circuit designs for tape-out on GF’s silicon photonics platform.
The expanded PDK and integrated design flow support simulation, verification, and fabrication handoff within the GDSFactory environment, providing a manufacturable pathway from design to foundry execution.
4. SoundHound AI Inc. (NASDAQ:SOUN)
SoundHound AI soared by 20.10 percent on Friday to finish at $9.56 apiece, as investors began positioning portfolios ahead of its first quarter earnings performance.
In a notice to investors, SoundHound AI Inc. (NASDAQ:SOUN) said that it is set to announce its financial and operating highlights after market close on Thursday, May 7. It will hold a conference call to elaborate on the results.
Investors are expected to watch for the company’s updated outlook for the short-term period, given the installation of an interim chief finance officer (CFO) following the departure of Nitesh Sharan to assume a leadership role in a quantum computing company.
Sharan, who officially stepped down last April 3, was temporarily replaced by Chief Product Officer James Hom, who served as the company’s first CFO from its founding in 2005.
In other news, SoundHound AI Inc. (NASDAQ:SOUN) bagged a contract renewal with retail giant Casey’s for the deployment of the former’s voice AI technology across more than 2,600 locations.
The renewed partnership followed SoundHound AI Inc.’s (NASDAQ:SOUN) successful support to Casey’s in handling more than 21 million guest interactions and processing of millions of food orders.
“Leveraging SoundHound’s voice AI ordering agents, Casey’s stores can answer incoming calls for pizza even during peak meal times, reducing missed orders and long hold times while ensuring guests can place orders quickly and accurately,” the listed firm said.
3. AXT Inc. (NASDAQ:AXTI)
AXT climbed to a new all-time high on Friday, as investor optimism was fueled by its strong earnings performance in the first quarter of the year, amid the rapidly growing AI needs that propelled a strong demand for its products.
At intra-day trade, AXT Inc. (NASDAQ:AXTI) climbed to its highest price of $96.32 before trimming gains to finish the session just up by 21.18 percent at $96 apiece.
In a statement, AXT Inc. (NASDAQ:AXTI) said that it was able to narrow its attributable net loss for the first three months of the year by 81 percent to just $1.62 million from the $8.80 million in the same period last year.
Revenues increased by 39 percent to $26.9 million from $19.3 million year-on-year.
“This is an incredibly exciting time for AXT…we completed a capital raise for $632.5 million in support of Tongmei’s indium phosphide capacity expansion as well as R&D investment in new products like 6-inch indium phosphide. Indium phosphide substrates are a key ingredient in high-speed optical data transmission required in AI-focused data centers,” AXT Inc. (NASDAQ:AXTI) CEO Morris Young noted.
“As the market continues to grow, capacity will become a critical enabler. Longer-term capacity planning is one of the most important discussions we are having today with customers and major supply chain players in our space. The message we have for them is this: AXT is stepping up. We believe we are in the best position to support and enable our industry in meeting the current and future needs,” he noted.
2. Twilio Inc. (NYSE:TWLO)
Twilio saw its share prices hit a new four-year high on Friday, as investors loaded portfolios after net profits more than quadrupled in the first quarter of the year.
In intra-day trade, Twilio Inc. (NYSE:TWLO) climbed to its highest price of $184.13 before trimming gains to finish the session just up by 23.83 percent at $183.34 apiece.
In an updated report during the day, the company said that it grew its net income last quarter by 350 percent to $90 million from only $20 million in the same period last year.
Revenues increased by 19.6 percent to $1.4 billion from $1.17 billion year-on-year.
“Q1 was a milestone quarter for Twilio, marked by our highest revenue and gross profit growth rates in more than three years,” Twilio Inc. (NYSE:TWLO) CEO Khozema Shipchandler said.
“Twilio’s performance is the result of a multi-year, companywide evolution that fundamentally transformed Twilio’s innovation velocity, GTM efficiency, and financial rigor and has led us to become a foundational infrastructure layer in the era of AI,” he noted.
1. Atlassian Corp. (NASDAQ:TEAM)
Atlassian saw its share prices increase by 29.58 on Friday to finish at $88.88 apiece, as investors took heart from its better-than-expected revenues in the third quarter of fiscal year 2026.
In an updated report, Atlassian Corp. (NASDAQ:TEAM) said that it grew its total revenues by 31.6 percent to $1.79 billion from $1.36 billion in the same period last year. The actual figure exceeded its earlier expectations of $1.689 billion to $1.697 billion.
Net loss, on the other hand, widened by 38.97 percent to $98.39 million from $70.8 million year-on-year.
“Our strong Q3 results show the power of our strategy in action, with total revenue growing 32 percent year-over-year to $1.8 billion, as customers sign bigger, longer-term commitments, and connect their teams and workflows on our AI-powered platform,” Atlassian Corp. (NASDAQ:TEAM) CEO Mike Cannon-Brookes said.
Cloud revenues alone accelerated by 29 percent year-on-year as customers ramp up their engagement for increased AI capabilities.
Looking ahead, Atlassian Corp. (NASDAQ:TEAM) is targeting to further grow its revenues in the fourth quarter of its fiscal year by 19 percent to 20 percent to a range of $1.653 billion to $1.661 billion, versus the $1.384 billion in the same quarter in 2025.
Cloud revenues alone are projected to grow by 25.5 percent, with data center customers to help drive the expansion.
While we acknowledge the potential of TEAM 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 TEAM and that has 100x upside potential, check out our report about the cheapest AI stock.
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