U.S. stocks were mixed, with the Nasdaq Composite gaining more than 100 points on Monday.
Shares of Tilray Brands, Inc. (NASDAQ: TLRY) rose sharply during Monday's session.
Shares of cannabis-linked stocks traded higher after President Donald Trump posted a video on Truth Social on Sunday, promoting the potential health benefits of cannabis. Cannabis stocks lit up on Monday after Trump resurrected hopes for a change in federal drug policy.
Tilray Brands shares jumped 39.2% to $1.5983 on Monday.
Here are some other big stocks recording gains in today’s session.
- Merus N.V. (NASDAQ: MRUS) gained 36.6% to $94.14 after Genmab agreed to acquire the company for $97 per share.
- Better Home & Finance Holding Company (NASDAQ: BETR) gained 20.1% to $63.60. Better Home & Finance Holding implemented $75 million at-the-market offering for Class A shares to support growth initiatives.
- BTQ Technologies Corp. (NASDAQ: BTQ) jumped 20% to $6.36. BTQ Technologies said Danal has begun proof-of-concept of BTQ’s quantum-secure Stablecoin settlement network across select payment rails.
- SNDL Inc. (NASDAQ: SNDL) gained 18.8% to $2.77. Shares of cannabis-linked stocks traded higher after President Trump shared a video that discussed potential medical benefits Of CBD for seniors.
- Innoviz Technologies Ltd. (NASDAQ: INVZ) rose 15.6% to $1.9701 after Goldman Sachs upgraded the stock from Neutral to Buy and raised its price target from $1.50 to $2.50.
- Sandisk Corporation (NASDAQ: SNDK) shares jumped 14.3% to $111.06.
- GDEV Inc. (NASDAQ: GDEV) shares rose 12.7% to $29.24.
- Ondas Holdings Inc. (NASDAQ: ONDS) gained 12.2% to $8.59.
- Pony AI Inc. (NASDAQ: PONY) rose 10.3% to $23.36. Citigroup analyst Jeff Chung initiated coverage on Pony AI with a Buy rating and announced a price target of $29.
- Galaxy Digital (NASDAQ: GLXY) gained 9.5% to $33.85.
- Western Digital Corporation (NASDAQ: WDC) gained 9% to $116.48 after Rosenblatt raised its price target on the stock from $90 to $125 while maintaining a Buy rating.
- New Oriental Education & Technology Group Inc. (NYSE: EDU) gained 5% to $53.85. B of A Securities analyst Lucy Yu maintained New Oriental Education with a Buy and raised the price target from $56.2 to $58.2.
- GLOBALFOUNDRIES Inc. (NASDAQ: GFS) rose 5% to $37.40 after the company announced a collaboration with Corning to develop detachable fiber connector solutions for GF’s silicon photonics platform.
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