Ten stocks surged on Wednesday, outperforming Wall Street’s sluggish performance, thanks to company-specific catalysts that sparked buying appetite and news that the US and China negotiated a new trade agreement.
In this list, we highlight the names of the 10 best-performing companies and detail the reasons behind their gains. The list was dominated by nuclear and quantum computing stocks.
In contrast, the tech-heavy Nasdaq dropped 0.50 percent and the S&P 500 declined by 0.27 percent. The Dow Jones, on the other hand, remained unchanged.
To compile the list, we focused exclusively on stocks with at least $2 billion in market capitalization and over 5 million in trading volume.
10. Insmed Inc. (NASDAQ:INSM)
Insmed jumped for a second day on Wednesday, adding 7.75 percent to close at $97.98 apiece following plans to raise $650 million through the issuance of more shares.
In a copy of the prospectus, Insmed Inc. (NASDAQ:INSM) said proceeds from the offer will be used to fund the continued research and development, pre-commercial, and commercialization of its drug candidates brensocatib, Arikayce, treprostinil palmitil inhalation powder (TPIP), and INSI201, among others. The remaining balance will be allocated for general corporate purposes, including business expansion.
Additionally, Insmed Inc. (NASDAQ:INSM) granted its underwriters the option to purchase up to an additional $97.5 million of its common stock.
The fundraising program followed Insmed Inc.’s (NASDAQ:INSM) promising results from the phase 2 trial of its pulmonary arterial hypertension (PAH) treatment, TPIP.
According to the company, the phase 2 trial achieved its primary and secondary goals for the treatment of reducing blood pressure in the lungs and improving exercise capacity in patients.
Following the announcements, four investment companies, namely BofA Securities, RBC, Morgan Stanley, and Mizuho, gave a “buy” recommendation and “overweight” rating on its stock at a price target ranging from $102 to $110.
9. Bilibili Inc. (NASDAQ:BILI)
Bilibili saw its share prices increase by 8.28 percent on Wednesday to close at $21.06 apiece as investors took path from an optimistic outlook from an investment firm.
In its market note, Zacks Research said Bilibili Inc. (NASDAQ:BILI) appears to be “an attractive pick given a noticeable improvement in the company’s earnings outlook.”
Currently, Bilibili Inc. (NASDAQ:BILI) carries a “buy” recommendation from Zacks Research, thanks to promising estimates revisions.
In the first quarter of the year, the company said it narrowed its net loss attributable to shareholders by 99 percent to 9.1 million yuan from 748 million yuan in the same period last year.
Revenues increased by 25 percent to 7 billion yuan from 5.66 billion yuan in the same period last year.
For the current quarter, analysts estimated Bilibili Inc. (NASDAQ:BILI) to earn $0.16 per share, marking a 277.78 percent upside from the same period last year.
8. SharpLink Gaming, Inc. (NASDAQ:SBET)
SharpLink Gaming rose for a second day on Wednesday, adding 9.09 percent to finish at $37.07 apiece, as investors gobbled up shares on expectations that Ethereum prices will soar as high as $4,000.
Assuming the cryptocurrency hits the amount, it would mark a 48-percent upside from the $2,700 price currently. Ethereum touched the $2,800 price at intra-day trading on Wednesday, but slight profit-taking pulled its share price slightly lower.
In a post on X, futures market trading expert Peter Brandt showed a trading chart showing that Ethereum is ready to fly.
“All dogs have their days—woof woof $ETH,” he captioned.
The strong confidence spilled over into SharpLink Gaming, Inc. (NASDAQ:SBET), which expects to become the largest Ethereum treasury holder.
Just recently, SharpLink Gaming, Inc. (NASDAQ:SBET) announced that it successfully raised worth $425 million through a private placement, led by Consensys Software Inc. alongside other investors.
According to SharpLink Gaming, Inc. (NASDAQ:SBET), proceeds from the program will be allocated for the establishment of the Ethereum treasury.
7. Circle Internet Group (NYSE:CRCL)
Circle Internet surged by 10.66 percent on Wednesday to close at $117.20 apiece as investor sentiment was buoyed by the successful raising of $1.1 billion in fresh funds through an upsized initial public offering (IPO).
Circle Internet Group (NYSE:CRCL), a newly listed cryptocurrency company, said in a statement that its underwriters have fully exercised the option to purchase 5.1 million of its shares, bringing its total proceeds to $1.1 billion.
In just five days of being a publicly listed company, Circle Internet Group’s (NYSE:CRCL) share price already surged by as high as 289 percent after hitting $120.49 at intraday trading on Wednesday.
Circle Internet Group (NYSE:CRCL) joined Coinbase, MARA Holdings, and Riot Platforms in the US stock exchange’s few pure-play cryptocurrency companies.
“We’ve been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry, and that’s served us well,” said Circle Internet Group (NYSE:CRCL) CEO Jeremy Allaire in an interview with CNBC.
6. Fluor Corporation (NYSE:FLR)
Fluor Corp. jumped by 10.97 percent on Wednesday to finish at $49.79 apiece, mirroring the rally in nuclear stocks amid the ongoing progress in nuclear development in the US.
The rally was likely boosted by the US Air Force’s milestone deal with another small modular reactor (SMR) provider, in line with the United States’ plan to ramp up the adoption of nuclear reactor technologies in the country.
The optimism spilled over to NuScale Power Corp., in which Fluor Corporation (NYSE:FLR) owns a significant stake.
In the first quarter of the year, Fluor Corporation (NYSE:FLR) swung to an attributable net loss of $241 million from a $59 million attributable net income in the same period last year.
Revenues increased by 6.7 percent to $3.98 billion from $3.73 billion year-on-year.
Fluor Corporation (NYSE:FLR) is a Texas-based engineering, procurement, and construction company that is heavy on building nuclear power plants.
5. Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing grew its share prices by 11.39 percent on Wednesday to finish at $12.52 apiece after successfully raising $350 million through a follow-on offering.
“With this additional funding, [Rigetti Computing, Inc. (NASDAQ:RGTI)] will have approximately $575 million of cash, cash equivalents, and available-for-sale investments with no debt, and is well positioned to support commercial scale-up of its superconducting gate-based quantum computers,” it said in a statement.
Proceeds from the offer will be used for working capital, capital expenditures, and other general corporate purposes. It may also use a portion of the net proceeds to enter into strategic collaborations, acquisitions, or partnerships in the future.
In recent news, Rigetti Computing, Inc. (NASDAQ:RGTI) said 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.
4. SailPoint, Inc. (NASDAQ:SAIL)
SailPoint extended its winning streak to a fourth straight day on Wednesday, adding 14.66 percent to close at $22.53 apiece as investor sentiment was fueled by its higher growth outlook for the rest of the year.
In a statement, SailPoint, Inc. (NASDAQ:SAIL) said it now expects to grow revenues between 20 and 21 percent to $1.034 billion to $1.044 billion for fiscal year 2026, higher than the 19 to 20 percent growth and revenue outlook of $1.025 billion to $1.035 billion targeted previously.
For the second quarter alone, revenues are expected to increase by 22 to 23 percent to $242 million to $244 million.
Adjusted earnings per share are expected to be in the range of $0.16 to $0.20 for the full fiscal year, versus the previously targeted $0.14 to $0.18.
Meanwhile, adjusted earnings per share were pegged at between $0.04 and $0.05 in the second quarter period.
In the first quarter of the year, SailPoint, Inc. (NASDAQ:SAIL) widened its net loss attributable to common stockholders by 51 percent to $211 million from $140.5 million in the same period last year.
Revenues increased by 23 percent to $230 million from $187 million year-on-year.
3. NuScale Power Corporation (NYSE:SMR)
NuScale Power grew its share prices by 20.41 percent on Wednesday to hit a new all-time high as investors shopped for shares amid the ongoing progress in the adoption of nuclear technology reactors.
NuScale Power Corporation (NYSE:SMR) touched a new all-time high of $41.88 at intraday trading before slightly pulling back to end the day at $41.60.
The rally was likely boosted by the US Air Force’s milestone deal with another small modular reactor (SMR) provider, in line with the United States’ plan to ramp up the adoption of nuclear reactor technologies in the country.
It can be learned that President Donald Trump signed two executive orders last month to ramp up the development of nuclear technologies in the country. One of the orders includes the deployment of advanced nuclear reactor technologies for national security and to support the energy needs of Artificial Intelligence infrastructures such as data centers.
NuScale Power Corporation (NYSE:SMR) is one of the leading SMR companies with projects located globally.
2. Quantum Computing Inc. (NASDAQ:QUBT)
Quantum Computing rallied for a fourth consecutive day on Wednesday, jumping 25.38 percent to close at $18.97 apiece, following optimistic comments from Nvidia Corp. CEO Jensen Huang that the quantum computing industry has already reached an inflection point.
In his keynote speech at a conference in Paris, Huang said that the application of quantum computers in areas that can solve interesting problems is now within reach.
“This is a really exciting time,” he noted.
Quantum Computing Inc. (NASDAQ:QUBT) rallied alongside its peer, Rigetti Computing Inc. (NASDAQ:RGTI).
Earlier this year, Huang walked back his comment that the practical use of quantum computers is only 15 to 30 years away.
Last week, Ascendiant Capital Markets reaffirmed its “buy” recommendation on Quantum Computing Inc.’s (NASDAQ:QUBT) stock, while raising its price target to $22 from $14 previously.
1. Oklo Inc. (NYSE:OKLO)
Oklo Inc. soared by 29.48 percent on Wednesday to finish at $68.03 apiece after it was selected by the US Air Force to deploy its advanced Aurora powerhouse to its military base in Alaska.
In a statement, Oklo Inc. (NYSE:OKLO) said the project serves as the Department of the Air Force’s (DAF) microreactor pilot to enhance energy resilience and reliability for critical national security infrastructure.
Under the terms of the agreement, Oklo Inc. (NYSE:OKLO) will design, construct, own, and operate the power plant at the Eielson Air Force Base in Alaska.
“This Notice of Intent to Award reflects continued confidence in Oklo’s ability to deliver clean and secure energy solutions for mission-critical infrastructure,” said Oklo Inc. (NYSE:OKLO) co-founder and CEO Jacob DeWitte.
“We are honored to support national defense resilience objectives while demonstrating the value of U.S.-pioneered fast reactor technology,” he added.
While we acknowledge the potential of OKLO 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 OKLO and that has 100x upside potential, check out our report about this cheapest AI stock.
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