The stock market edged lower on Thursday, erasing gains from the previous trading day that was buoyed by the Federal Reserve’s decision to keep rates unchanged.
The tech-heavy Nasdaq decreased by 0.33 percent, the S&P 500 declined by 0.22 percent, and the Dow Jones dipped by 0.03 percent.
On Thursday, investors immediately booked profits following the lack of fresh catalysts to further boost buying appetite.
However, 10 companies under the micro- to small-cap sectors noticeably defied market pessimism, having surged by double to triple digits. In this article, we have identified Thursday’s 10 best performers and detailed the reasons behind their gains.
We classify micro-cap companies as those between $50 million and $300 million in market capitalization, while small-cap firms are those with $300 million and $2 billion in market capitalization.
Stock market reports on a sheet of paper. Photo by RDNE Stock Project on Pexels
10. Aeva Technologies Inc. Common Stock (NASDAQ:AEVA)
Aeva Technologies grew its share prices by 34.73 percent on Thursday to finish at $4.19 each as investors took heart from a flurry of positive developments surrounding the company.
On Thursday, Morgan Stanley raised its stock price target for AEVA to $5.22 apiece, representing a 24.5-percent upside from its latest closing price. It also maintained its equal weight rating on the stock.
Morgan Stanley’s rating followed the release of AEVA’s earnings performance in the fourth quarter, where it achieved a 69-percent jump in fourth-quarter revenues to $2.7 million from the $1.6 million registered in the same period a year earlier.
Meanwhile, full-year revenues more than doubled to $9.1 million from $4.3 million in 2023.
Looking ahead, the impressive revenue performance bolstered the company’s outlook for the year, with the firm expecting revenues to settle between the $15 million and $18 million level for the full year, or growth of approximately 70 percent to 100 percent of the actual figures year-on-year.
9. Rent the Runway Inc. (NASDAQ:RENT)
Rent the Runway saw its share prices jump by 35.61 percent on Thursday to close at $6.55 apiece as investors resorted to bargain hunting to take advantage of its cheap valuation.
According to analysts, RENT already entered the oversold territory, having hovered the $3 to $4 level over the past two weeks to hit its lowest price of $3.70 on March 7, 2025. The sell-offs were attributed to concerns about the evolving retail landscape and consumer habits, leading to a stark reassessment of its market position and growth prospects.
Based on its historical earnings release, RENT is expected to announce its fourth quarter and full-year performance in the second week of April 2025, where investors will also be looking out for cues about its outlook for the remainder of the year.
Founded in 2009 by Jennifer Hyman, RENT is an e-commerce platform that allows users to rent, subscribe, or buy designer and apparel accessories.