Small Cap News Movers: Your Weekly Digest of Stocks Making Moves on Market News
Concerns over inflation, interest rate uncertainty, and global economic pressures have weighed on major indices, yet a handful of companies have surged due to strategic acquisitions, breakthrough innovations, and strong investor sentiment.
This week, the stock market faced a downturn as major indices struggled to maintain momentum. The S&P 500 (SPX), Dow Jones Industrial Average (DJI), and NASDAQ Composite (IXIC) all ended in the red, weighed down by macroeconomic concerns and investor uncertainty. However, despite the broader market weakness, several individual stocks defied the trend with triple-digit gains fueled by strategic acquisitions, breakthrough innovations, and strong earnings momentum. This article will discuss the top-performing stocks this week and why they delivered massive returns even in a weak market amid economic uncertainties.
Also Read: This Might Be the Most Undervalued Biotech Stock on the Market Today, Here’s Why
6. WANG & LEE Group (WLGS)
Market Cap as of March 20: $95.13 Million
WANG & LEE Group (NASDAQ: WLGS) is a construction and engineering firm based in Hong Kong. The company specializes in electrical and mechanical engineering services for commercial and residential projects.
Strategic Alliance: On March 18, Wang & Lee Group announced a partnership with HK Golden, Inc. to integrate ad-driven content into Linko’s AI-powered smart home devices, enabling users to earn blockchain tokens for ad engagement.
Tokenized Ad Engagement: Users of Linko’s devices will earn W&L-issued blockchain tokens for every minute spent interacting with HKGolden’s ads or sponsored content, which provides a new revenue stream for the company.
Acquisition of Solar (HK) Limited: Wang & Lee Group has also recently acquired Solar (HK) Limited, a solar energy expert, for HK$15 million, which will expand the company’s renewable energy projects and expertise.
Growth Potential: The alliance and acquisition are expected to drive user growth, increase token utility, and reduce household carbon footprints.
Stock Performance: Wang & Lee Group has gained 33.42% this week but has dropped 2.00% over the past month. However, it remains up 90.46% for the quarter and 205.38% YTD. The stock fell 1.64% in the latest session, closing at $5.39.
5. D-Wave Quantum (QBTS)
Market Cap as of March 20: $3.51 Billion
D-Wave Quantum (NYSE: QBTS) develops quantum computing systems and software to solve optimization and machine learning problems. The company also sells quantum hardware, cloud-based quantum computing services, and consulting solutions.
Quantum Achievement: D-Wave achieved a breakthrough demonstration of quantum supremacy by solving a complex problem that traditional supercomputers cannot solve.
New Blockchain Architecture: The company introduced a novel blockchain architecture that leverages its quantum supremacy achievement, which could enhance security and efficiency in blockchain applications.
Energy Efficiency: D-Wave’s quantum computers could significantly reduce electricity consumption in blockchain applications, potentially reducing costs by up to a factor of 1,000.
Earnings Estimates Revision: The company’s earnings estimates have been revised upwards, with a 33.3% increase in the consensus estimate, which indicates a positive outlook for the company’s earnings.
Record Quarterly Bookings: The company achieved record quarterly bookings of $18.3 million, partly due to the sale of its Advantage system to Germany’s Jülich supercomputing center.
Stock Performance: D-Wave Quantum has gained 43.54% this week and 51.66% over the past month. The company’s six-month performance stands at a staggering 893.97%.
4. TuHURA Biosciences (HURA)
Market Cap as of March 20: $162.80 Million
TuHURA Biosciences (NASDAQ: HURA) is a biotechnology company focused on developing immunotherapy treatments for cancer, with a strong emphasis on overcoming resistance to cancer immunotherapy, including tumor microenvironment modulators and innate immune agonists.
Acquisition of Kineta: On March 18, TuHURA Biosciences announced its plans to acquire Kineta, Inc. to enhance its product pipeline with Kineta’s VISTA-101 development program.
Strengthening Position: The merger is expected to strengthen TuHURA’s position in the biopharmaceutical sector and bring significant synergies.
Growth Opportunities: The company is poised for growth, with a strong emphasis on overcoming resistance to cancer immunotherapy and advancing its product pipeline through strategic acquisitions and developments.
Stock Performance: Despite an 83.30% weekly gain, TuHURA’s stock has dropped 12.34% over the past quarter and 45.74% in the last six months.
Read Now: Why This Low Float Biotech Stock Looks Ripe for Another Big Breakout
3. Diginex (DGNX)
Market Cap as of March 20: $2.37 Billion
Diginex (NASDAQ: DGNX), initially conceived as a Bitcoin miner, has evolved into a digital asset financial services company that provides ESG data infrastructure and sustainability reporting.
Strategic Partnership: On March 19, Diginex announced a strategic partnership with Nomas Global Investments L.L.C. SPC, led by His Highness Shaikh Mohammed Bin Sultan Bin Hamdan Al Nahyan, to advance sustainable finance in the UAE.
Dual Listing: The partnership includes a dual listing of Diginex’s ordinary shares on the Abu Dhabi Securities Exchange (ADX).
Capital Injection: A planned capital injection of up to $250 million is expected to drive regional growth and innovation.
Sustainable Finance Hub: Diginex aims to establish Abu Dhabi as a regional center for sustainable finance innovation, fostering a resilient economy and inspiring initiatives across the GCC and globally.
Collaboration and Promotion: The company will collaborate with government entities, financial regulators, and private-sector leaders to promote responsible business practices and empower UAE businesses and investors to align their portfolios with global sustainability goals.
Stock Performance: Diginex’s stock has soared 101.54% over the past week and 145.83% in the last month. Year-to-date, it has skyrocketed 1,276.67%.
2. Radius Recycling (RDUS)
Market Cap as of March 20: $818.20 Million
Radius Recycling (NASDAQ: RDUS) specializes in metal recycling, collecting, processing, and selling scrap metal to steel mills and foundries.
Acquisition: On March 13, Radius Recycling entered into a definitive merger agreement with Toyota Tsusho America, Inc.
Opportunity: The acquisition, valued at $30.00 per share in cash, represents a 115% premium to the company’s closing share price on March 12.
Growth: The acquisition is expected to accelerate Radius Recycling’s growth strategies and strengthen its resiliency, with increased resources to invest in developing its metals recycling platform, Pick-N-Pull auto recycling business, and other services.
Stock Performance: Radius Recycling saw a substantial 113.15% weekly gain and a 126.06% increase over the month. Year-to-date, it is up 91.30%, though it remains relatively volatile.
1. Regencell Bioscience (RGC)
Market Cap as of March 20: $400.41 Million
Regencell Bioscience (NASDAQ: RGC) is a biotech company focused on commercializing traditional Chinese medicine, particularly for neurocognitive disorders such as ADHD and autism.
Share Buyback: Regencell’s CEO, Yat-Gai Au, personally financed a share buyback program of 652,000 shares, which has led to a significant increase in the stock price.
Increased Insider Ownership: With over 11 million shares acquired, the share buyback increased Au’s ownership to 86% of the company.
Market Optimism: As a micro-cap company, Regencell’s significant share buyback program was notable, especially considering the overall market pessimism.
Stock Performance: Regencell has delivered an explosive 187.44% weekly gain and a massive 910.96% increase over the past month. It surged 31.62% in the latest session, closing at $40.50.
This week’s market downturn didn’t stop certain stocks from delivering remarkable gains. Their impressive rallies highlight how individual stock performance can defy broader market trends and offer opportunities even in uncertain times.
Read Next: Why This Low Float Biotech Stock Looks Ripe for Another Big Breakout
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Disclaimer: Wealthy VC does not hold a position in any of the stocks, ETFs or cryptocurrencies mentioned in this article.
