While Market Bleeds, These 10 Firms Soar

A series of fresh corporate developments bolstered the performance of 10 companies on Wednesday, defying a broader market slump, as traders repositioned portfolios ahead of Nvidia Corp.’s highly anticipated earnings report, which came out after the market bell.

Wall Street’s main indices all finished in the red, with the Dow Jones down by 0.58 percent, the S&P 500 dropping by 0.56 percent, and the tech-heavy Nasdaq declining by 0.51 percent.

In this article, let us take a look at the 10 best-performing companies and explore the reasons behind their strong performance.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

10. Full Truck Alliance Co. Ltd. (NYSE:YMM)

Full Truck Alliance grew its share prices by 1.7 percent on Wednesday to close at $11.98 apiece as easing global trade tensions sparked appetite for shipping companies, supported by its optimistic business outlook for the second quarter of the year.

In recent news, Full Truck Alliance Co. Ltd. (NYSE:YMM) increased its net income by 118.1 percent to 1.278 billion yuan from only 586.4 million in the same period last year. Revenues also increased by 19 percent to 2.7 billion yuan from 2.27 billion year-on-year.

For the second quarter, Full Truck Alliance Co. Ltd. (NYSE:YMM) expects revenues to settle between 3.06 billion yuan and 3.12 billion yuan, or a year-on-year growth rate of 10.6 to 12.9 percent.

Additionally, Full Truck Alliance Co. Ltd. (NYSE:YMM) underscored its efforts in embracing artificial intelligence to boost its operations.

“Through AI-powered innovations and ecosystem collaborations, we will continue to deliver long-term returns for our shareholders,” the company said.

9. Oklo Inc. (NYSE:OKLO)

Shares of Oklo rallied for a fourth consecutive day on Wednesday, adding 2.49 percent to close at $55.24 apiece as investors cheered its partnership with a Korean company for the deployment of its advanced nuclear technology.

In a statement, Oklo Inc. (NYSE:OKLO) said it signed a memorandum of understanding with Korea Hydro & Nuclear Power, a subsidiary of Korea Electric Power Corporation, to explore opportunities aimed at jointly advancing the standard design development and verification of Aurora powerhouses, manufacturability and constructability assessments, major equipment planning, as well as supply chain development.

The collaboration also supports Oklo Inc.’s (NYSE:OKLO) deployment of a 75-MWe Aurora powerhouse at the Idaho National Laboratory site, which is currently undergoing a licensing process.

Additionally, Oklo Inc. (NYSE:OKLO) plans to file follow-on applications to support its growing order pipeline, which exceeds 14 GW.