Bitcoin Miners Dominate Tuesday’s 10 Best-Performing Stocks

The stock market bounced back on Tuesday, erasing losses in the previous day, as investors snapped up shares on news that the US-China trade tensions could possibly subside.

The Dow Jones rallied by 2.66 percent, the S&P 500 rose by 2.51 percent, and the Nasdaq surged by 2.71 percent.

On Tuesday, news reports said that US Treasury Secretary Scott Bessent believed there would be a de-escalation between the US and China, describing future negotiations as a slog that has not started yet. The news buoyed trading in several financial markets, including cryptocurrency, with Bitcoin jumping 5 percent to trade above the $91,000 level.

The rally spilled over into 10 companies, predominantly Bitcoin miners. In this article, we have listed the 10 top-performing firms on Tuesday and detailed the reasons behind their gains.

To come up with the list, we considered only the stocks with more than $1 billion in market capitalization and $5 million in trading volume.

Photo by Markus Winkler on Pexels

10. First Solar Inc (NASDAQ:FSLR)

First Solar Inc. saw its share prices jump by 10.53 percent on Tuesday to close at $135.35 apiece as investors gobbled up shares in solar stocks following President Donald Trump’s announcement that he would slap a whopping 3,521 percent tariff on solar panel imports.

FSLR traded higher in line with its US-based counterparts as hefty taxes on imports could result in lower prices and reduced competition for local manufacturers.

Trump’s imposition of taxes stemmed from a year-long trade case filed by none other than FSLR, Korean firm Hanwha Qcells, as well as several smaller solar panel makers in the US which accused Chinese firms with factories in Malaysia, Cambodia, Vietnam, and Thailand of shipping panels priced below their cost of production, owing to unfair state subsidies.

However, advocacy groups have raised concerns about the impact of tariffs on local manufacturers, saying that it would harm domestic producers with higher costs of imported cells assembled at US factories.

9. NuScale Power Corp. (NYSE:SMR)

NuScale Power saw its share prices rise by 10.63 percent on Tuesday to finish at $15.09 apiece as investors placed bets on producers of alternative energy sources following President Donald Trump’s imposition of hefty tariffs on solar panel imports.

On Tuesday, Trump said he would slap as much as 3,521-percent tariffs on solar panel imports from Thailand, Cambodia, Vietnam, and Malaysia following a year-long trade case filed by American companies accusing Chinese firms with factories in the said Southeast Asian countries of shipping panels priced below their cost of production, owing to unfair state subsidies.

SMR, a leading small modular reactor technology, may benefit from the imposition as it could push utilities, industries, and developers to set their sights on cheaper alternative energy sources such as SMR technologies.

Demand would be further complemented by the booming artificial intelligence in the country, on expectations that AI data centers would require more energy to power operations.