Ten individual stocks soared by double digits on Wednesday, outperforming a lackluster performance among Wall Street’s indices, thanks to the 90-day truce between the US and China that continued to boost investor confidence.
In contrast, Wall Street’s indices were mixed, with the tech-heavy Nasdaq growing 0.72 percent, followed by the S&P 500, up 0.10 percent. The Dow Jones declined by 0.21 percent.
In this article, we name Wednesday’s 10 best-performing stocks and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
Photo by Jonathan Borba on Pexels
10. Liberty Global Ltd. (NASDAQ:LBTYA)
Liberty Global snapped a 10-day losing streak on Wednesday, jumping 7.6 percent to close at $9.77 apiece as investors resorted to bargain-hunting to take advantage of its cheap valuation.
Additionally, sentiment was buoyed by a statement from Liberty Global Ltd.’s (NASDAQ:LBTYA) partner, Telefonica, saying that it was satisfied with its joint venture with the former in operating Britain’s Virgin Media O2, and does not seek to take control of the latter.
“We’re very happy with the current situation. The joint venture is working very well, we don’t have any deal on the table,” Telefonica CEO Emilio Gayo was quoted as saying in a report by Reuters.
This came after news from Bloomberg that Telefonica was evaluating a potential purchase of part of Liberty Global Ltd.’s (NASDAQ:LBTYA) 50-percent stake in the former.
“We are working closely to find the best option to develop fibre in the UK and create value for VMO2,” he added.
9. Rocket Lab USA, Inc. (NASDAQ:RKLB)
Rocket Lab USA rallied for a third consecutive day on Wednesday, growing 10.54 percent to close at $24.13 apiece, after bagging a new deal with the National Aeronautics and Space Administration (NASA) for the launch of a new mission aimed at studying galaxy formation and cosmic evolution.
Called the Aspera mission, Rocket Lab USA, Inc. (NASDAQ:RKLB) and NASA said that they are targeting to launch the new project in the first quarter of 2026.
According to NASA, Aspera will examine hot gas in the space between galaxies, called the intergalactic medium. Through the observation of ultraviolet light, it will study the inflow and outflow of gas from galaxies, a process thought to contribute to star formation.
In other news, Rocket Lab USA, Inc. (NASDAQ:RKLB) successfully returned a Rocket Lab Pioneer spacecraft built for Varda Space Industries, a space research company designing, building, and flying spacecraft that processes pharmaceuticals in microgravity.
8. Polestar Automotive Holding UK PLC (NASDAQ:PSNY)
Polestar Automotive grew its share prices by 10.58 percent on Wednesday to close at $1.15 apiece following an impressive earnings performance in the first three months of the year.
In a statement earlier this week, the company said it trimmed its net loss by 31 percent to $190 million from the $276 million in the same period last year, buoyed by an improvement in its gross profit, fixed cost savings, a positive foreign exchange impact within net finance expenses, which partially offset losses from the joint venture with Hubei Xingji Meizu Group Co. Ltd and lower positive fair value change of earn out rights.
Meanwhile, revenues jumped by 84.2 percent to $608 million from $330 million year-on-year, primarily driven by higher volumes and a favorable shift in the product mix.
Retail sales also expanded by 76.4 percent to 12,304 units, supported by a growing uptake in newer models.
7. Reddit, Inc. (NYSE:RDDT)
Reddit Inc. extended its rally for a fifth consecutive day on Wednesday, jumping by 11.06 percent to finish at $125.32 apiece, with analysts pointing to meme moves as having boosted the company’s share price.
Additionally, the company is being linked to news that its co-founder, Alexis Ohanian, recently acquired a 10-percent stake in the Women’s Super League, Chelsea Football Club.
While the acquisition does not directly impact the trading performance of Reddit, Ohanian’s presence in other industries could support further visibility for Reddit, Inc. (NYSE:RDDT).
During the first quarter of the year, Reddit, Inc. (NYSE:RDDT) swung to a net income of $26.2 million from a $575.1 million net loss in the same period last year.
Revenues also jumped by 61 percent to $392.4 million from $243 million year-on-year.
For the second quarter of the year, Reddit, Inc. (NYSE:RDDT) is targeting to hit between $410 million and $430 million in revenues, with an adjusted EBITDA range of $110 million to $130 million.
6. EchoStar Corporation (NASDAQ:SATS)
EchoStar Corporation grew its share prices by 15.19 percent on Wednesday to finish at $22.78 apiece as investors cheered the company’s quick move to address an inquiry by the Federal Communications Commission (FCC) for the review of its federal 5G obligations.
EchoStar Corporation (NASDAQ:SATS) Chairman Charles Ergen responded to the query, underscoring its collaborative history with the FCC and its significant investments in deploying a 5G Open Radio Access Network across the US.
EchoStar Corporation (NASDAQ:SATS) also emphasized its efforts that led to the creation of more American jobs and a competitive wireless market alternative.
In the first quarter of the year, the company widened its net loss by 88.7 percent to $202.7 million from $107.4 million in the same period last year.
Revenues also dropped by 3.6 percent to $3.869 billion from $4.014 billion year-on-year.
5. Oklo Inc. (NYSE:OKLO)
Oklo Inc. rallied for a fourth consecutive day on Wednesday, jumping 15.55 percent to finish at $37.01 apiece as investors continued to snap up shares following its strong earnings performance in the first quarter of the year.
In a statement, Oklo Inc. (NYSE:OKLO) trimmed its net loss by 59.16 percent to $9.8 million from the $24.02 million registered in the same period last year, despite incurring a 142-percent increase in loss from operations of $17.9 million versus $7.37 million year-on-year.
In other news, Oklo Inc. (NYSE:OKLO) announced the appointment of Pat Schweiger as its new chief technology officer. Previously, he served as chief engineer at SPARC at Commonwealth Fusion Systems as well as senior vice president and vice president for TerraPower.
“Pat’s decades of experience and expertise in power engineering will be a tremendous asset to Oklo as we move toward the commercialization of our advanced nuclear technologies,” said Oklo Inc. (NYSE:OKLO) co-founder and CEO Jacob DeWitte.
4. Tencent Music Entertainment Group (NYSE:TME)
Tencent Music jumped by 15.66 percent on Wednesday to end at $16.99 apiece as investor sentiment was boosted by a strong earnings performance in the first quarter of the year.
In its latest earnings release, Tencent Music Entertainment Group (NYSE:TME) said net income attributable to shareholders expanded by 202 percent to RMB4.291 billion from RMB1.422 billion registered in the same period last year.
Gross profit increased by 17 percent to RMB3.242 billion from RMB2.771 billion year-on-year, with online music services accounting for the largest revenue chunk.
In other news, Tencent Music Entertainment Group (NYSE:TME) recently renewed its multi-year licensing deal with Sony Music Entertainment and expanded its premium offerings, such as Dolby Atmos and 360 Reality Audio for SVIP members.
Following the results, Tencent earned a higher price target from investment firm Bernstein, which raised its price target to $15.50 from $15 apiece. Despite the price target significantly lower than the closing price, Bernstein remained optimistic about the company, as it maintained an “outperform” outlook.
3. Super Micro Computer, Inc. (NASDAQ:SMCI)
Super Micro Computer extended its rally for a third consecutive day on Wednesday, jumping 15.71 percent to close at $45 apiece as investors resumed buying following an analyst’s bullish outlook for the company.
Earlier this week, Raymond James said it initiated coverage of Super Micro Computer, Inc. (NASDAQ:SMCI) and gave the latter an “outperform” rating with a price target of $41, an upside of 5.42 percent from the company’s latest closing price.
According to the investment firm, Super Micro Computer, Inc. (NASDAQ:SMCI) carved out a solid spot in the AI race, with a 9 percent market share in a $145-billion market.
In the third quarter ending March 31, 2025, Super Micro Computer, Inc. (NASDAQ:SMCI) recorded a 73-percent drop in net income at $108 million versus $402 million in the same period last year.
Net sales, however, increased by 19 percent to $4.599 billion from $3.850 billion year-on-year.
2. Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing saw its share prices surge by 18 percent on Wednesday to finish at $11.64 apiece as investors bought up following an analyst’s positive rating for the company.
Earlier this week, investment firm Craig-Hallum gave Rigetti Computing, Inc. (NASDAQ:RGTI) a buy recommendation and a higher price target of $14 versus $12 previously.
The revision followed the company’s earnings performance in the first quarter of the year, where revenues fell by 52 percent to $1.47 million from $3.05 million in the same period last year, as loss from operations expanded by 30 percent to $21.6 million from $16.58 million year-on-year.
Total operating expenses grew by 22 percent to $22.07 million from $18.08 million in the same comparable period.
Earlier this year, Rigetti Computing, Inc. (NASDAQ:RGTI) secured several projects from the US and UK governments, reflecting its stronghold in the quantum computing sector. This includes its participation in DARPA’s Quantum Benchmarking Initiative, grant of AFOSR award to further develop breakthrough chip fabrication technology, as well as three Innovate UK Quantum Mission pilot awards to advance superconducting quantum computing.
1. Exelixis, Inc. (NASDAQ:EXEL)
Exelixis soared by 20.84 percent on Wednesday to finish at $44.65 each following a strong earnings performance in the first three months, coupled with a more optimistic outlook for the rest of the year.
In its latest earnings release, Exelixis, Inc. (NASDAQ:EXEL) said net income expanded by 332 percent to $160 million from $37 million in the same period last year.
Revenues, on the other hand, grew by 30 percent to $555 million from $425 million year-on-year, primarily due to an increase in sales volume and an increase in average net selling price.
“Exelixis delivered outstanding financial performance in the first quarter of 2025, driven by accelerating growth in CABOMETYX demand, new patient starts, and revenues,” said President and CEO Michael Morrissey.
Based on the strong figures, the company has raised its growth outlook for net product revenues and total revenues, both by $100 million for the full year.
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