Last week saw a generally cautious market environment amid the ongoing geopolitical tensions between Israel and Iran, pushing Wall Street’s main indices to new week-on-week losses.
The S&P 500 led the decline with a 1.03 percent drop, followed by the Dow Jones with a 0.76 percent decline, and the Nasdaq, which fell 0.71 percent.
However, 10 companies continued to stand strong, booking whopping double-digit gains, thanks to company-specific developments that sparked buying appetite.
In this list, let us explore last week’s 10 top-performing stocks alongside the reasons behind their gains.
To compile the list, we considered only stocks with a market capitalization of at least $2 billion and a trading volume of over 5 million shares.
The list was based on their closing prices on June 13 and 20, 2025.
10. AST SpaceMobile Inc. (NASDAQ:ASTS)
AST SpaceMobile rallied by 19.7 percent week-on-week, from $38.37 to $45.94, after bagging a deal with Vodafone Idea to expand mobile connectivity across India’s unconnected regions.
In a statement, AST SpaceMobile and Vodafone Idea are set to develop a SpaceMobile Satellite System that will expand the latter’s telecom services, such as voice, video, data streaming, and internet access.
The partnership will also cover the development and management of the satellite constellation, while Vodafone Idea will oversee terrestrial network integration, operating spectrum, and market access.
“[Vodafone Idea] has always been committed to leveraging technology to connect every Indian and we see satellite communication as a complement to terrestrial connectivity. As satellite-based mobile access becomes a reality in India, we are looking forward to ushering in a new era of seamless and resilient connectivity,” said Avneesh Khosl,a Chief Marketing Officer.
9. QXO, Inc. (NYSE:QXO)
QXO saw its share prices jump by 21 percent to end Friday’s trading at $23.79 versus the $19.66 a week earlier, with investor sentiment bolstered by its proposed acquisition of building products distributor GMS Inc. (NYSE:GMS) for $5 billion.
In a statement late last week, QXO, Inc. (NYSE:QXO) said it sent a proposal to GMS Inc.’s (NYSE:GMS) president and CEO to acquire all of the latter’s outstanding shares at a price of $95.20 for a total of $5 billion.
The amount represents a 27-percent premium over GMS Inc.’s (NYSE:GMS) 60-day volume-weighted average price of $74.82.
Brad Jacob, chairman and CEO of QXO, Inc. (NYSE:QXO), said that its all-cash proposal will deliver immediate and certain value to GMS shareholders at a meaningful premium.
“We believe this is a compelling opportunity for GMS investors to realize the full value of their shares in a single, decisive transaction,” he noted.
QXO, Inc. (NYSE:QXO) tapped Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC as its financial advisors, while Paul, Weiss, Rifkind, Wharton & Garrison LLP will act as its legal counsel.
8. MP Materials Corp. (NYSE:MP)
MP Materials surged by 23.5 percent week-on-week, ending Friday’s trading at $37.74 versus the $30.55 apiece on June 13, as investor sentiment was buoyed by growth opportunities expectations amid the limited supply of rare earth minerals globally.
In recent weeks, rare earths took center stage amid calls from automakers and semiconductor companies for China to loosen up rare earth exports, saying that it has significantly impacted production operations.
Despite China’s promise to ease up, experts feared that global supply cuts would continue to be an ever-present threat.
MP Materials Corp. (NYSE:MP), on the other hand, could take advantage of the limited global supply, as industries look to other suppliers to support production operations.
MP Materials Corp. (NYSE:MP) is the only rare earths mining company in the US. During the peak of the US and China’s trade war earlier this year, the company halted shipping operations to China to avoid hefty tariffs on its goods.