ACADIA, Tonix, and D-Wave lead U.S. stock market gainers

The U.S. stock market closed higher on May 16, 2025, as traders cheered a 90-day trade truce between the United States and China and responded to fresh momentum in healthcare innovation, crypto resurgence, and quantum computing breakthroughs. Investors flocked to high-growth, high-beta sectors with renewed optimism, despite consumer sentiment dropping and inflation expectations rising. The S&P 500 gained 0.7%, the Dow Jones Industrial Average rose 0.8%, and the Nasdaq Composite edged up 0.5%, with top gainers spanning biotech, technology, and alternative energy.

Institutional sentiment showed signs of accumulation in underperforming healthcare and software stocks, while thematic funds continued rotating into crypto and quantum computing. Buy-side interest was also evident in new-age transportation and clean tech. Despite macroeconomic headwinds such as sticky inflation, rising bond yields, and an uncertain Fed path, market breadth improved, with 25 top-performing stocks gaining between 5% and 26% on the day.

Why Did ACADIA Pharmaceuticals Inc. (ACAD) Stock Surge 26.48%?

ACADIA Pharmaceuticals Inc. rose 26.48% to $22.26, recording a volume of 17.7 million shares against its 1.8 million 3-month average. The $3.73 billion-market-cap biotech firm drew strong buy interest as traders positioned ahead of upcoming updates in its CNS drug pipeline. With a modest P/E of 12.87 and 19% year-over-year gain, ACAD attracted both value and momentum buyers on expectations of regulatory and trial milestones later this quarter.

What Drove Tonix Pharmaceuticals Holding Corp. (TNXP) Up 21.21%?

Tonix Pharmaceuticals jumped 21.21% to $28.00, fueled by retail speculation and potential licensing deal chatter. Despite being down 96.39% over the past year, TNXP saw high turnover at 2.5 million shares and a microcap valuation of $205 million. The company’s ultra-low P/E of 0.08 and low float attracted traders anticipating a turnaround or M&A activity.

Why Did Pony AI Inc. (PONY) Rise 13.94%?

Autonomous vehicle developer Pony AI surged 13.94% to $18.43, buoyed by speculation over a major OEM partnership in China. The $5.75 billion company has gained 34.79% year-to-date, supported by policy tailwinds for AV technology. High volume of 9 million shares exceeded its daily average and reflected strong interest from both retail and EV-themed funds.

Why Did D-Wave Quantum Inc. (QBTS) Jump 11.06%?

D-Wave Quantum Inc. climbed to $12.25, up 11.06% on 108.5 million shares traded. The quantum computing company reported record quarterly revenue and widening commercial adoption in enterprise optimization use cases. With a 748.46% gain over 52 weeks and rising institutional visibility, the $3.5 billion firm is viewed as a leading pure-play quantum bet.

What Sparked Bitdeer Technologies Group’s (BTDR) 10.63% Rally?

Crypto miner Bitdeer Technologies gained 10.63% to $15.19 as Bitcoin prices retested $69,000. The company’s strong infrastructure in Asia and low-cost mining operations continue to attract capital amid ETF-fueled crypto inflows. Its $2.7 billion market cap has grown over 140% in the past year, making BTDR one of the most followed digital asset infrastructure stocks.

Why Did Hims & Hers Health, Inc. (HIMS) Jump 10.36%?

Hims & Hers surged 10.36% to $64.65 on 50.5 million shares, sharply outperforming its 3-month average. The $14.47 billion telehealth firm, with a steep P/E of 95.07, has gained over 300% year-on-year. Analysts cited rising prescription volumes and positive brand engagement data as catalysts, with buy-side funds taking fresh positions after a bullish analyst upgrade.

What Drove ZoomInfo Technologies Inc. (ZI) Up 10.27%?

ZoomInfo gained 10.27% to $10.31, rebounding after months of underperformance. The $3.77 billion company saw doubled average volume amid enthusiasm for its AI-powered sales tools. Despite a -23% 52-week return and a P/E of 85.92, sentiment improved following signs of new enterprise client wins and cost control in Q2 guidance previews.

Why Did Archer Aviation Inc. (ACHR) Rally 9.11%?

Archer Aviation jumped 9.11% to $13.30 as speculation mounted over FAA pre-certification of its eVTOL platform. The $7.3 billion firm has soared over 229% in 12 months and remains a hedge fund favorite in the e-mobility space. Daily volume reached 69 million shares as traders priced in long-term commercialization potential.

What Lifted Coinbase Global, Inc. (COIN) by 9.01%?

Coinbase stock advanced to $266.46, gaining 9.01% amid renewed crypto enthusiasm. The $62.26 billion exchange operator posted upbeat Q1 results and saw increased institutional custody activity. Trading volume exceeded 72 million, boosted by ETF flows and optimism around bipartisan crypto regulation bills.

Why Did Zai Lab Limited (ZLAB) Gain 7.58%?

ZLAB rose 7.58% to $30.93 on hopes of accelerated China FDA reviews for its oncology candidates. The $3.39 billion biotech outpaced peers as investors rotated into cross-border pharma plays amid improved U.S.-China dialogue.

What Drove IonQ, Inc. (IONQ) Stock Up 7.53%?

IonQ rose to $34.99, up 7.53% as investors responded to its $150 million forward booking pipeline. The $8.67 billion quantum firm is viewed as a frontrunner in scalable systems, with high-volume buying by tech innovation ETFs and hedge funds.

Why Did Unity Software Inc. (U) Gain 7.49%?

Unity climbed 7.49% to $22.81 after reports of internal restructuring and renewed investor interest in generative AI content creation. The $9.48 billion firm saw volumes above 13.5 million amid a broad tech rally.

What Lifted CRISPR Therapeutics AG (CRSP) by 6.77%?

CRSP rose 6.77% to $38.77 after biotech-focused funds rebalanced toward gene-editing names. While still down 35.41% year-over-year, institutional buyers re-entered after encouraging preclinical pipeline disclosures.

Why Did Bilibili Inc. (BILI) Jump 6.71%?

Chinese video platform Bilibili gained 6.71% to $18.93 amid improved China macro data and increased time spent per user. The stock drew renewed ADR buying, helping lift its $7.39 billion valuation after months of underperformance.

What Pushed Apellis Pharmaceuticals (APLS) Up 6.66%?

Apellis gained 6.66% to $17.45 as value-focused biotech investors bought the dip in a name down 60% YoY. The $2.19 billion firm expects a pivotal trial update in Q2, driving speculative accumulation.

Why Did UnitedHealth Group (UNH) Rebound 6.4%?

UNH recovered 6.4% to $291.91 following analyst commentary that DOJ investigations may not materially impact long-term earnings. The $264.8 billion insurer had fallen 47.71% YTD but remains a blue-chip healthcare bellwether.

What Boosted Halozyme Therapeutics Inc. (HALO) by 6.27%?

HALO rose 6.27% to $52.02 as royalty revenues from partnered drugs beat expectations. The $6.41 billion firm posted positive guidance, reinforcing its niche position in drug delivery platforms.

Why Did Globus Medical, Inc. (GMED) Gain 5.93%?

GMED advanced 5.93% to $61.25 after analysts highlighted upside from spine robotic systems. With a market cap of $8.29 billion and 45.71 P/E, it attracted healthcare growth funds rebalancing post-Q1 earnings.

What Propelled Alignment Healthcare (ALHC) Stock Up?

ALHC jumped 5.91% to $15.78 amid rising Medicare Advantage enrollments. Up over 100% YoY, the stock drew continued FII flows into value-based care.

Why Did Oscar Health Inc. (OSCR) Climb 5.80%?

Oscar rose 5.80% to $17.52 as small-cap insurance rallied on expectations of better ACA plan margins. The $4.46 billion firm continues to benefit from improving MLRs and tech-driven policy retention.

What Lifted Vipshop Holdings Ltd. (VIPS)?

VIPS closed 5.72% higher at $15.33 as Chinese e-commerce stocks rebounded on higher Q1 retail sales. The $7.47 billion discount platform gained on strong gross merchandise value figures and promotional tailwinds.

Why Did Atlas Energy Solutions Inc. (AESI) Gain?

AESI advanced 5.56% to $13.48 on sand demand tailwinds from Permian drilling activity. The $2.12 billion proppant supplier saw energy ETF inflows and a reversal from prior underperformance.

Why Did Hertz Global Holdings (HTZ) Rally?

Hertz rose 5.55% to $6.66 on speculation of a fleet modernization update. The $2.06 billion car rental company benefited from a rebound in leisure travel and corporate bookings.

What Boosted Freshpet Inc. (FRPT) and LandBridge Company LLC (LB)?

Freshpet surged 5.25% to $87.65 on DTC expansion optimism, while LandBridge gained 5.20% to $84.50 as the real estate firm secured new Permian lease revenues.

Outlook: Can This Momentum Be Sustained?

While investor sentiment turned positive amid the U.S.-China trade truce and earnings tailwinds, markets remain sensitive to macro shifts. Key watchpoints include inflation data, upcoming Fed minutes, sectoral earnings guidance, and geopolitical developments, particularly in energy and semiconductor supply chains. Rotation into risk assets could continue, but volatility is likely as the Fed maintains its hawkish tone.