📊 Tariff Jitters, Uranium Momentum, and RAPT’s Silent Surge

Happy Monday Investors!

Last week closed with macro tension in the air—Trump’s tariff threats rattled markets, sending key indices into the red.

But beneath the surface, select small-caps pushed higher. $RAPT ( ▲ 0.14% ) led the charge with a sharp move absent any press, while uranium names like $URG ( ▼ 9.74% ) and $EU ( ▼ 4.1% ) gained ground on renewed nuclear optimism out of Washington.

Let’s dive into who moved and why. 👇

Matthias Schneider
Editor at Analytica Investor

↑ ↓ 1-day change
Market data: Friday’s market close

The small-cap landscape saw mixed trends on Friday, with key indices displaying varied movements. The Russell 2000 fell by 0.3%, while the S&P/TSX Venture Composite Index moved up by 1.2%. The NASDAQ Composite, which includes many small-cap stocks, experienced a significant drop of 1.0%. In the mining sector, the S&P/TSX Global Mining Index capitalized on the sector’s growth, securing a gain of 1.7%.

The week was dominated by news surrounding Trump’s tariff threats. While the market reacted negatively to these developments, as seen in the decline of the Russell 2000 and NASDAQ, there were some unexpected winners, specifically nuclear power stocks, which rose following Trump's executive orders intended to boost the sector. Notably, smartphone makers and other firms with significant reliance on international trade were negatively impacted by these tariff threats.

Furthermore, recent volatility has induced an "absolute tsunami" of ETFs, with fund experts urging investors to prepare for a crowded market. Overall, this past week has evidenced the significant influence of trade politics on small-cap stocks.

A Word From Our Partner

Stay informed. And sane.

Instead of getting your news from increasingly partisan news sources or social media feeds built to inflame, try out Ground News.

Compare how sources from the left, right, and center report the same story, so you can see the full picture.

Proudly trusted by 1M+ readers across the political spectrum.

Start your free trial today

📈 Biggest Gainers 

• RAPT Therapeutics, Inc. ($RAPT NASDAQ) - 43%:
  Market Cap: 162,715,469
  
  A clinical-stage immunology-based biopharmaceutical firm developing oral small molecule therapies for oncology and inflammatory diseases with unmet patient needs.

• Douglas Elliman Inc. ($DOUG NYSE) - 36%:
  Market Cap: 257,339,736
  
  Operates in real estate services and property technology investments, with roughly 100 offices and 6,500 agents across the US.

• enCore Energy Corp. ($EU AMEX) - 23%:
  Market Cap: 366,934,154
  
  Engages in the acquisition, exploration, and development of uranium resource properties throughout the United States with headquarters in Corpus Christi, Texas.

• Ur-Energy Inc. ($URG AMEX) - 22%:
  Market Cap: 317,575,175
  
  Specializes in the acquisition, exploration, development, and operation of uranium mineral properties, primarily in the United States.

• Allied Gaming & Entertainment Inc. ($AGAE NASDAQ) - 21%: 
  Market Cap: 103,208,040
  
  Provides entertainment and gaming products worldwide, operates esports properties, a flagship gaming arena, mobile esports truck, and a streaming studio.

• Uranium Royalty Corp. ($UROY NASDAQ) - 19%:
  Market Cap: 311,371,880
  
  Operates as a pure-play uranium royalty firm, acquiring and managing a diverse portfolio of uranium interests globally, with headquarters in Vancouver, Canada.

📉 Biggest Losers

• Webull Corporation Incentive Warrant ($BULLZ NASDAQ) - -27%: Market Cap: 735,347,613
  
  This digital investment platform offers trading services, wealth management products, market data, user community, and investor education.

• Wolfspeed, Inc. ($WOLF NYSE) - 68,556,170 shares traded with an average volume of 32,331,503 (-15%): 
  Market Cap: 225,659,150
  
  Specializes in providing silicon carbide and gallium nitride materials, power, and radio frequency devices for various industrial, telecommunication, and military applications.
  
  The appointment of industry veteran Dr. David Emerson as Chief Operating Officer provoked a negative reaction in the market, reflecting in the recent 15% reduction in the volume of shares traded. (1)

• Next Technology Holding Inc. ($NXTT NASDAQ) - -13%: 
  Market Cap: 937,969,750
  
  Provides technical services and solutions via its social e-commerce platform, specializing in big data analytics and AI systems, primarily in China.

🚀 Biggest Movers

• Plug Power Inc. ($PLUG NASDAQ) - 102,050,959 shares traded with an average volume of 93,758,243 (-2%): 
  Market Cap: 841,105,200
  
  Delivers clean hydrogen and zero-emissions fuel cell solutions for various applications, including supply chain, logistics, and on-road electric vehicles globally.
  
  The recent increase in the trading volume of the stock reflects heightened investor interest, influenced by the showcasing of the company's GenEco Electrolyzers at The Green Box Innovation Hub and the CFO's bolstering of confidence through a strategic share purchase. (1, 2)

• Opendoor Technologies Inc. ($OPEN NASDAQ) - 93,895,022 shares traded with an average volume of 57,352,976 (0%):
  Market Cap: 495,504,181
  
  This Arizona-based company operates a digital platform for online buying, selling of residential real estate, and provides title insurance and escrow services.
  
  The recent closing of convertible notes exchange and issuance of new convertible notes have resulted in a substantial increase in trading volume, leading to notable changes in the stock price. (1, 2)

• Navitas Semiconductor Corporation ($NVTS NASDAQ) - 77,282,234 shares traded with an average volume of 9,133,246 (-13%): 
  Market Cap: 845,873,280
  
  This Ireland-based corporation designs, develops, and globally sells gallium nitride (GaN) power integrated circuits since its inception in 2013.
  
  The recent decline in the stock price, despite high trading volumes, is likely due to market reactions to the announcement of collaborations with NVIDIA for next-generation 800 V HVDC Architecture, and the launch of a new industry-leading 12kW GaN & SiC Platform promoting efficiency in Hyperscale AI Data Centers. (1, 2)

🏦 Recent & Relevant IPOs

The most noteworthy recent small-cap IPOs include Hinge Health, Inc. on NYSE with a market cap of $437,312,000, and several acquisitions corporations on NASDAQ.

• ProCap Acquisition Corp ($PCAPU) on NASDAQ (2025-05-21). Market Cap: $220,000,000

• OFA Group ($OFAL) on NASDAQ (2025-05-21). Market Cap: $15,000,000

• Armada Acquisition Corp. I ($AACIU) on NASDAQ (2025-05-21). Market Cap: $200,000,000

• Hinge Health, Inc. ($HNGE) on NYSE (2025-05-22). Market Cap: $437,312,000

• MNTN Inc. ($MNTN) on NYSE (2025-05-22). Market Cap: $187,200,000

• Oyster Enterprises II Acquisition Corp ($OYSEU) on NASDAQ (2025-05-22). Market Cap: $220,000,000

• Fast Track Group ($FTRK) on NASDAQ (2025-05-23). Market Cap: $15,000,000

• Pelican Acquisition Corp. ($PELIU) on NASDAQ (2025-05-23). Market Cap: $86,250,000

• Cal Redwood Acquisition Corp. ($CRAQU) on NASDAQ (2025-05-23). Market Cap: $200,000,000

Post Of The Day

👀 Stocks To Add To Your Watchlist

$GP ( ▼ 2.36% ) · NASDAQ Capital Market — GreenPower Motor Company
Consumer Cyclical/Auto - Manufacturers · YTD: -42.453%
Market Cap: $13,268,091

GP stands out in the electric vehicle sector with its recent strategic moves, notably the closing of the first tranche of its term loan offering and its continuous deployment of zero-emission BEAST school buses under the EPA's Clean School Bus Program.

Despite a volatile market, insider transactions by CEO and Chairman Fraser Atkinson signal strong leadership commitment. With a beta of 5.329, GP's price volatility is higher than the market, suggesting potential for significant returns for risk-tolerant investors in the burgeoning EV market.

$LPRO ( ▼ 0.48% ) · NASDAQ Global Market — Open Lending Corporation 
Financial Services/Financial - Credit Services · YTD: -66.375%
Market Cap: $229,989,120

LPRO showcased a robust performance in May, with a remarkable surge of 17.42% on May 7th, followed by another 14.29% spike the next day. Despite a subsequent 8.42% drop, it managed a strong recovery, hitting a high of $2.05 by May 12th, a significant leap from its start in April.

Presently trading at $1.92, amidst recent legal scrutiny, LPRO's volatility underscores potential for high-reward scenarios for risk-tolerant investors in the Financial - Credit Services sector. Consider for speculative portfolios.

$TMCI ( ▲ 0.92% ) · NASDAQ Global Select — Treace Medical Concepts, Inc.
Healthcare/Medical - Devices · YTD: -25.286%
Market Cap: $369,881,400

TMCI has encountered a challenging period reflected in recent stock performance, with a notable decrease of 4.26% to close at $6.29 on May 21, 2025, and further slipping to $5.88 by May 23, 2025.

This downturn corresponded with broader sector fluctuations but was accentuated by ongoing legal concerns surrounding the company. Despite these challenges, the company's innovative approach to orthopedic medical devices, specifically in foot and ankle surgery, continues to demonstrate potential. Investors, however, should monitor the legal developments closely, as outcomes could significantly impact future performance.

That’s it for this episode!

Thank you for taking the time to read today’s email! Your support is what allows me to send out this newsletter for free every week. 

Disclaimer: This newsletter is for informational purposes only and contains forward-looking statements that involve risks and uncertainties. Investor Insights Systems does not provide financial advice—please consult a licensed advisor before making investment decisions.