Bitcoin Miners, Quantum Computing Lead Rally: A Look at Wednesday’s Top 10 Gainers

Wall Street’s main indices closed in the green territory on Wednesday, posting gains of more than 1 percent as investors cheered news of a tamed inflation rate for November.

The Dow Jones jumped by 1.65 percent, while the S&P 500 surged by 1.83 percent. Meanwhile, the Nasdaq Composite index soared 2.45 percent.

Ten companies mirrored the broader market optimism, led by the quantum computing and bitcoin mining sectors. Today, let’s take a look at what buoyed investor sentiment for each of the top gainers.

To come up with Wednesday’s top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A person with stock market data on a laptop. Photo by Anna Nekrashevich on Pexels

10. Bitdeer Technologies Group (NASDAQ:BTDR)

Bitdeer Technologies (NASDAQ:BTDR) rallied for a second day on Wednesday in line with higher Bitcoin prices and after receiving a rating boost from investment banking firm Needham & Company LLC.

On Tuesday, Needham upgraded its price target for Bitdeer by 57 percent to $22 from $14, while giving it a “buy” rating, indicating an optimistic outlook. The upgrade was based on refreshed expectations for machine manufacturing sales as well as on growing confidence in Bitdeer’s high-performance computing opportunities.

Earlier this month, Bitdeer Technologies Group (NASDAQ:BTDR) also earned a bullish outlook from Roth MKM, with a “buy” rating and a $29 price target.

Bitdeer (NASDAQ:BTDR)—a $4-billion heavyweight in Bitcoin mining—rallied in line with higher Bitcoin prices, which as of Wednesday, was again trying to regain its strength towards the $100,000 level.

9. Tempus AI Inc. (NASDAQ:TEM)

Tempus AI (NASDAQ:TEM), an American health technology company, saw its shares rise by 9.71 percent to end at $34.92 apiece on Wednesday as investors cheered the launch of its FDA-approved in vitro diagnostic device called xT CDx.

XT CDx is a 648-gene next-generation sequencing (NGS) test for solid tumor profiling that includes microsatellite instability status and companion diagnostic claims for colorectal cancer patients, said the Chicago-based company.

It uses DNA isolated from FFPE tumor tissue samples and DNA isolated from matched normal blood or saliva samples derived from patients diagnosed with solid malignant neoplasms in order to detect substitutions—such as single nucleotide variants (SNVs) and multi-nucleotide variants (MNVs)—and insertion/deletion alterations in 648 genes.

Additionally, xT CDx is approved as a companion diagnostic to identify patients with KRAS wild-type CRC who could be candidates for treatment with cetuximab (Erbitux); and patients with KRAS and NRAS wild-type CRC who may be candidates for treatment with panitumumab (Vectibix).

Tempus AI (NASDAQ:TEM) said the xT CDx is now available for orders within the US.