Small But Savage: 10 Stocks Delivering Outsized Gains

Ten small stocks boasted huge gains on Tuesday, defying a lackluster broader market sentiment, amid fresh company-specific developments that boosted investing appetite. Of the 10 firms, three companies touched new record highs.

Meanwhile, only the Nasdaq finished in the green among Wall Street’s main indices, up 0.13 percent. The Dow Jones and the S&P 500 declined by 0.38 percent and 0.09 percent, respectively.

In this article, we focus on the 10 small but terrible stocks that led the charge and break down the reasons behind their gains. We focused exclusively on stocks with a market capitalization between $3 million and $2 billion with a trading volume of 5 million shares.

The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels

10. Cronos Group Inc. (NASDAQ:CRON)

Cronos Group jumped by 7.56 percent on Tuesday to finish at $2.69 apiece as investor sentiment was fueled by its cannabis expansion program with the full acquisition of a European company.

In a statement on the same day, Cronos Group Inc. (NASDAQ:CRON) said that its wholly-owned subsidiary entered into a definitive agreement to acquire CanAdelaar B.V., the largest cannabis company in the Netherlands, for $67 million with additional contingent consideration payable in cash based on 0.5x of CanAdelaar’s normalized EBITDA in 2026 and 2027.

“Our acquisition of CanAdelaar is a financially compelling and highly strategic transaction that will establish a strategic footprint in Europe and enable us to leverage our investments in borderless products,” Cronos Group Inc. (NASDAQ:CRON) Chairman, President, and CEO Mike Gorenstein.

“The Netherlands has a deep cannabis heritage, and its coffee shops are known worldwide to have played a foundational role in the evolution of the legal cannabis industry. European expansion is an important area of focus for us, and we were especially intrigued that the Netherlands legislated and established a responsible and well-functioning adult-use cannabis market with the Wietexperiment. We are excited to work with the Dutch government, regulators, coffee shops, adult consumers, and all stakeholders to make the Wietexperiment a continued success,” he added.

According to the company, CanAdelaar currently cultivates approximately 20,000 kg of dried flower annually, and is the only industrial-scale greenhouse cultivator in the Wietexperiment.

9. Beyond Meat Inc. (NASDAQ:BYND)

Beyond Meat saw its share prices jump by 10.53 percent on Tuesday to finish at $1.26 apiece as investors resorted to bargain-hunting following five consecutive days of decline.

The stock appears to be testing the $1 territory anew—the minimum bid price requirement of the Nasdaq to stay listed on the exchange, having traded below the said level for several days last month.

In other news, Beyond Meat, Inc. (NASDAQ:BYND) was earlier slapped with a $40 million penalty by a US court after it found that the company had infringed on a trademark of its rival firm, Vegadelphia.

According to reports citing court documents, Beyond Meat Inc. (NASDAQ:BYND) violated Vegadelphia’s trademark, “Where Great Taste is Plant-Based,” with its own slogan, “Great Taste, Plant-Based.”

In its filing lodged in 2022, Vegadelphia said that Beyond Meat, Inc. (NASDAQ:BYND) could cause confusion among customers.

Meanwhile, the company expressed its disagreement over the court result, saying that it intends to “seek further judicial review of the decision and appeal the verdict.”