8 Best-Performing Small Caps In July: Find Out Which Stock Jumped 803%
Portfolio Pulse from Hayden Buckfire
In July, small-cap stocks outperformed large-cap stocks, with Serve Robotics Inc (NASDAQ:SERV) leading the pack with an 803% increase. Other notable performers included CommScope Holding Company Inc (NASDAQ:COMM), Hawaiian Electric Industries, Inc. (NYSE:HE), and Q32 Bio Inc (NASDAQ:QTTB). The iShares Russell 2000 ETF (NYSE:IWM) rose by over 11%, indicating a shift from large caps to small caps.
August 01, 2024 | 8:54 pm
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NEUTRAL IMPACT
The iShares Russell 1000 ETF (NYSE:IWB) appreciated by just 1% in July, underperforming compared to small-cap stocks.
Large-cap stocks underperformed in July compared to small-cap stocks, as indicated by the modest increase in the iShares Russell 1000 ETF.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Meta Data Ltd (NYSE:AIU) saw a 92% increase in its stock price after announcing a 1 for 5 reverse stock split.
Reverse stock splits can sometimes lead to a temporary increase in stock prices due to perceived value.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
CommScope Holding Company Inc (NASDAQ:COMM) saw a 121% increase in its stock price due to strong preliminary financial results and an acquisition announcement by Amphenol.
Strong financial results and acquisition news typically boost investor confidence, leading to a rise in stock prices.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Emergent Biosolutions Inc (NYSE:EBS) saw an 80% increase in its stock price after reaching a settlement with Johnson & Johnson regarding COVID-19 vaccine disputes.
Settling legal disputes can remove uncertainties, leading to a rise in stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Hawaiian Electric Industries, Inc. (NYSE:HE) saw a 102% increase in its stock price after a report suggested a settlement to resolve lawsuits related to the 2023 Maui wildfires.
The potential settlement of lawsuits likely alleviated investor concerns, leading to a rise in the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Humacyte Inc (NASDAQ:HUMA) shares rose by 76% after entering a license agreement with Pluristyx and receiving RMAT designation by the FDA.
Positive regulatory news and strategic partnerships often lead to increased investor confidence and a rise in stock prices.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The iShares Russell 2000 ETF (NYSE:IWM) rose by over 11% in July, indicating a shift from large caps to small caps.
The outperformance of small-cap stocks in July suggests a rebalancing from large caps to small caps, driven by favorable macroeconomic conditions.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Q32 Bio Inc (NASDAQ:QTTB) shares increased by 101% after analysts issued Buy ratings for the stock.
Positive analyst ratings often lead to increased investor interest and a rise in stock prices.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Cassava Sciences Inc (NASDAQ:SAVA) shares appreciated by 83% after announcing the extension of its open-label trials for its Alzheimer's treatment, simufilam.
Positive news regarding drug trials often boosts investor confidence, leading to a rise in stock prices.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Serve Robotics Inc (NASDAQ:SERV) shares surged 803% in July after NVIDIA Corp disclosed a 10% stake in the company.
The significant investment by NVIDIA Corp boosted investor confidence in Serve Robotics, leading to a substantial increase in its stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100