Wall Street’s three major indices finished in the green territory on Wednesday as investors continued to digest news of President Donald Trump’s tariff rollout on imports.
The tech-heavy Nasdaq finished the day strongest, adding 0.87 percent. The S&P 500 grew 0.67 percent, while the Dow Jones was up 0.56 percent.
Ten individual stocks mirrored a broader market optimism, closing the day in the green amid a series of corporate developments that sparked buying appetite.
In this article, we named Wednesday’s top performers and detailed the reasons behind their gains.
Source: Pexels
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5 million in trading volume.
10. Nebius Group N.V. (NASDAQ:NBIS)
Nebius Group rallied for a second day on Wednesday, adding 7.76 percent to close at $24.45 apiece as investors resorted to bargain-hunting amid a 25-percent drop in last month’s valuation.
In recent news, NBIS announced developments to boost the adoption and support of Artificial Intelligence, including a tie-up with the Stevens Institute of Technology for the launch of the Laboratory for AI in Mathematics Education at Stevens in Hoboken, New Jersey.
With the aim of exploring and promoting innovative AI uses in math research and education, NBIS said the new laboratory will investigate how large language models (LLMs) and other AI technologies can be used to promote mathematical reasoning skills and transform teaching practices.
Additionally, the company announced its role as an early adopter cloud provider of the NVIDIA Blackwell Ultra platform offering NVIDIA GB300 NVL72-powered instances by the end of 2025. The instances were said to be accelerated by 72 NVIDIA Blackwell Ultra GPUs.
NBIS said it plans to make NVIDIA Blackwell GPU capacity generally available to its US data centers by the second quarter of the year, with its New Jersey data center expected to be exclusive to the platform’s GPUs. Meanwhile, its facility in Kansas will deploy NVIDIA HGX B2000.
9. Cleveland-Cliffs Inc. (NYSE:CLF)
Cleveland-Cliffs snapped a three-day losing streak on Wednesday, jumping 7.78 percent to finish at $8.73 apiece as investors resorted to safe haven stocks amid the ongoing trade tensions globally.
As a stalwart import tariff supporter, CLF CEO Lourenco Goncalves earlier said that President Donald Trump’s imposition of tariffs on imports can make a “long-term positive impact” in making “America a manufacturing superpower once again.”
His statement sparked hopes for CLF, a US-based steel company, as widening the import taxes to all countries could further lead to lower competition for US steelmakers, such as CLF, and make prices cheaper to consumers.
In a recent speech to CLF employees, Goncalves discussed the importance of domestic steel operations, underscoring how 120 vehicles, including those from General Motors and Toyota, use significant amounts of CLF steel.
“This idea that we can just ship our industrial base overseas, have China make our steel, have Japan make our cars, have Mexico make other products, and we’re just going to be a consumer society. Does that make any sense to any of you?” Goncalves underscored.
8. IonQ Inc. (NYSE:IONQ)
Shares of IonQ grew by 8.02 percent on Wednesday to end at $25.05 apiece following the launch of the IonQ Forte Enterprise, its recently commissioned quantum computer.
In a statement on Wednesday, IONQ said its flagship product Forte Enterprise is now officially available to customers globally through Amazon Braket, a managed quantum computing service from Amazon Web Services (AWS), as well as the IonQ Quantum Cloud.
Forte Enterprise joins Aria and Forte in its series of products “capable of meeting Amazon’s high bar for commercial availability.”
“Today we are celebrating the global accessibility of Ionq Forte Enterprise—our flagship quantum computer. IonQ’s goal is to get our quantum technologies into the hands of developers so they can build and develop new commercial applications to solve some of today’s most complex problems,” said IONQ President and CEO Niccolo de Masi. “This collaboration with AWS makes Forte Enterprise accessible for new and existing customers to leverage our quantum computing systems for real-world impact.”
7. UWM Holdings Corp. (NYSE:UWMC)
UWM Holdings rallied by 8.22 percent on Wednesday to finish at $5.79 apiece following the appointment of its new chief financial officer (CFO).
In a statement on Tuesday, UWMC named Rami Hasani as its new CFO, effective on April 1. He replaced Andrew Hubacker, who moved into a senior advisor role for the company.
Hasani joined UWMC in November 2020 as vice president for financial reporting and compliance.
“We are thrilled to announce Rami’s transition into the role of CFO, a position he has rightfully earned through the confidence of myself, our leadership team, and the entire organization,” said UWMC President and CEO Mat Ishbia. “Since joining UWM in 2020, he has been a valuable part of our team, and we have no doubt he will continue to make a significant impact in this new role. We also extend our gratitude to Andrew for his many contributions as our CFO and appreciate his continued expertise in his new role as a senior advisor.”
Prior to joining the company, Hasani spent over 15 years at Deloitte & Touche, LLP, most recently serving as a Senior Manager in the Advisory practice. He also holds a bachelor’s degree from Oakland University in accounting and has been a Certified Public Accountant since 2004.
6. Rigetti Computing Inc. (NASDAQ:RGTI)
Rigetti Computing snapped a five-day losing streak on Wednesday, rallying 8.71 percent to end at $8.49 apiece as investors bought up on bargains to take advantage of its recent drop.
The rally followed the launch of the RGTX, the Defiance Daily Target 2X Long RGTI ETF, a single-stock ETF designed to provide amplified exposure to RGTI. The ETF offers traders a way to seek enhanced returns on RGTI without requiring a margin account.
According to Defiance ETFs, RGTX seeks daily investment results that correspond to 200 percent of RGTI’s daily percentage change.
“RGTX offers investors a way to seek leveraged exposure to RGTI, a known leader in quantum computing technology,” said Sylvia Jablonski, CEO of Defiance ETFs. “As Rigetti continues to develop its proprietary quantum processors and expand its Quantum Computing as a Service (QCaaS) platform, this ETF provides a trading tool for those looking to engage with the company’s market performance.”
5. Rocket Companies Inc. (NYSE:RKT)
Rocket Companies surged by 10 percent on Wednesday to finish at $13.86 apiece following Deutsche Bank’s bullish rating for the company.
On Wednesday, the investment bank upgraded RKT to Buy from Hold and reaffirmed its $16 price target.
Deutsche Bank said the upgrade was based on RKT’s $9.4-billion acquisition of Mr. Cooper Group, a move that it said could significantly bolster its market share and earnings.
Additionally, Deutsche Bank said the strategic purchase was a step towards RKT’s goal of gaining 20 percent of the US mortgage borrowing market by 2027. He said that the acquisition could largely benefit the company through more stable revenues across economic cycles and propel its earnings per share to 38 percent over the next two years.
4. Amentum Holdings Inc. (NYSE:AMTM)
Amentum Holdings jumped by 10.30 percent on Wednesday to end at $19.71 apiece after bagging a $71.9-million contract with the Naval Surface Warfare Center Dahlgren Division (NSWCDD).
The contract leverages AMTM’s track record in technical and engineering solutions and will support the Navy’s mission of enhancing decision-making and electromagnetic spectrum capabilities and serve as the E3 battle force interoperability electromagnetic interference problem solver.
“This award highlights our expertise in delivering innovative solutions that enhance the Navy’s electromagnetic capabilities,” said Mark Walter, President of AMTM’s Engineering and Technology Group. “Our team’s proficiency in integrated topside design, modeling, and simulation for risk analysis, and assessing the E3 impact on military operations will be crucial to achieving successful test, evaluation, and integration solutions to help protect national security.”
3. Arcutis Biotherapeutics Inc. (NASDAQ:ARQT)
Arcutis Biotherapeutics snapped a six-day losing streak on Wednesday, adding 10.81 percent to finish at $16.60 apiece as investors cheered news that it had halted an ongoing lawsuit over a patent dispute with Padagis Israel Pharmaceuticals Ltd.
As part of the joint stipulation agreement, ARQT said that Padagis is required to report to ARQT any US Food and Drug Administration (FDA) correspondence regarding their Abbreviated New Drug Application (ANDA) for their potential generic alternative to ARQT’s patented product, ZORYVE (roflumilast) cream 0.3 percent for plaque psoriasis.
In addition, the parties agreed to extend by one day the 30-month Hatch-Waxman stay of regulatory approval, for every day the litigation is stayed as of March 24, 2025. In the event the litigation resumes in the future, ARQT will still benefit from the entirety of the stay afforded to it under the Hatch-Waxman Act.
2. New Fortress Energy Inc. (NASDAQ:NFE)
New Fortress Energy snapped a six-day losing streak on Wednesday, jumping by 13.06 percent to finish at $8.57 each as investors resorted to bargain-hunting after touching a new all-time low in the previous day.
In recent news, Excelerate Energy announced that it entered into an agreement with NFE for the acquisition of the latter’s two LNG terminals and a 150-MW combined heat and power plant, all for $1.055 billion.
Under the terms of the agreement, Excelerate will acquire all assets and operations of the Montego Bay LNG Terminal, the Old Harbour LNG Terminal, and the Clarendon combined heat and power co-generation plants.
According to the company, the transaction is expected to be completed in the second quarter of the year, subject to regulatory approvals and the satisfaction of other customary closing conditions.
1. CoreWeave Inc. (NASDAQ:CRWV)
CoreWeave Inc. surged by 16.72 percent on Wednesday to end at $61.36 apiece as investors continued to gobble up shares in the company on investor optimism that OpenAI’s newly secured $40 billion funding from a bank would spill over into the company.
It can be learned that CRWV reached an $11.9-billion deal with OpenAI in March. According to analysts, the deal could reduce CRWV’s reliance on Microsoft which earlier lessened its commitment to the company for missing deadlines and materials delivery issues needed to scale its artificial intelligence models.
CRWV is a newly listed company on the stock exchange. It listed 37.5 million shares at $40 apiece after initially targeting a sale of 49 million shares at between $47 and $55 apiece.
CRWV was one of the most anticipated initial public offerings this year, having been backed by Nvidia Corp.
While we acknowledge the potential of CRWV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as CRWV but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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