Massive Moves: Record Deals, FDA Wins & Crypto Mania Propel Top Stock Gainers (Sep 29, 2025)

Electronic Arts (EA) – Shares jumped ~15% after EA agreed to a record $55 billion buyout led by Saudi Arabia’s PIF, offering $210 per share (a 25% premium) ^[1] ^[2]. Analysts note it would be the largest leveraged buyout in history, signaling renewed appetite for mega-deals ^[3].
Crinetics Pharmaceuticals (CRNX) – Stock skyrocketed ~28% as the FDA approved Palsonify, the first once-daily oral therapy for acromegaly, marking a breakthrough in treatment ^[4]. Crinetics’ CEO hailed it as “a new era” for patients and the company ^[5].
QMMM Holdings (QMMM) – This obscure firm’s shares surged ~19% amid hype over its plan to create a $100 million cryptocurrency treasury, contributing to a 959% jump in under three weeks ^[6]. The SEC abruptly halted trading on concerns the run-up was fueled by “potential manipulation” via social media ^[7].
Scholar Rock (SRRK) – Leaped ~12%, rebounding despite the FDA issuing a Complete Response Letter (delayed approval) for its spinal atrophy drug. The setback was due to a third-party factory issue (no faults with the drug itself) ^[8], and analysts maintain confidence that approval odds remain high ^[9], expecting the manufacturing snags to be resolved within months ^[10].
Perpetua Resources (PPTA) – Rallied ~11% after the miner outlined plans to secure a domestic antimony supply chain. With U.S. defense backing and a green light to proceed on its Idaho project, Perpetua is courting partners to process this critical mineral ^[11] ^[12]. “America needs a secure and robust supply of antimony,” CEO Jon Cherry said, underscoring the strategic importance ^[13].

Wall Street’s Winning Streak and Market Backdrop

Even as a possible U.S. government shutdown loomed on Capitol Hill, Wall Street managed a modest rise on September 29, 2025. The tech-heavy Nasdaq Composite climbed about 0.5% on the day ^[14], with investors largely shrugging off fiscal uncertainty. “Investors are clinging to the positives,” noted one strategist, citing hopes of future interest rate cuts and solid economic data ^[15]. Against this cautiously optimistic backdrop, a handful of individual stocks delivered outsized gains thanks to company-specific catalysts – from blockbuster M&A deals to drug approvals and speculative frenzies. Below, we break down the day’s top gainers on U.S. markets and what drove their explosive moves.

Electronic Arts (EA): Record $55B Buyout Fuels 15% Surge

Electronic Arts – the gaming giant behind Madden and Battlefield – saw its stock rally dramatically on confirmation of a leveraged buyout deal. EA agreed to be taken private for $55 billion, in what would be the largest LBO ever in dollar terms ^[16]. The investor group is led by Saudi Arabia’s Public Investment Fund (PIF) along with private equity firm Silver Lake and others, who will pay $210 per share in cash (about a 25% premium to EA’s pre-rumor price) ^[17] ^[18].

Shares of EA shot up toward the ~$200 level on the news, reflecting optimism that shareholders will approve the hefty buyout price. Analysts highlighted the deal’s significance: “[This] waves the green flag on sponsors resuming mega-deal transactions,” said a PitchBook private equity analyst, noting it could revive big-ticket buyouts after years of drought ^[19]. Another analyst team praised the move, suggesting the deep-pocketed new owners will give EA more freedom to invest in long-term growth opportunities that might have been “too risky or expensive as a public company” ^[20].

However, some feel EA’s investors are selling too low. “While the $210 offer… may appear compelling, we believe it falls materially short of the company’s intrinsic value,” argued Benchmark analysts in a note, pointing to EA’s strong pipeline (Battlefield 6 and other titles) that could add over $2 billion in bookings by FY2028 ^[21]. Still, with a 5% stock jump to ~$202 by midday and closing up sharply, the market clearly cheered the certainty of a cash deal ^[22]. If completed, this buyout (involving $36 billion equity from PIF/Affinity and $20 billion debt financing by JPMorgan) will mark a historic turning point for EA and perhaps the gaming sector overall ^[23] ^[24]. CEO Andrew Wilson is expected to remain at the helm through the transition ^[25].

Outlook: In the near term, EA’s stock will likely hover just below the $210 takeover price as arbitrageurs lock in the spread. Barring regulatory or financing hiccups, investors anticipate the deal closing by early 2027 ^[26]. Longer-term, if the buyout proceeds, EA will disappear from public markets. But the bold 25% premium underscores confidence in EA’s franchises. Notably, some shareholders may push for a sweeter deal given Benchmark’s view that EA’s earnings power is only “beginning to emerge” and could justify a higher valuation ^[27]. Market sentiment on this news is broadly positive – it spotlights the value of EA’s sports and shooter IP in a consolidating industry and suggests the big money (sovereign wealth and PE) sees strong growth ahead in gaming. It also shows Saudi’s PIF doubling down on its strategy to diversify into global sports and gaming assets ^[28] ^[29].

Crinetics Pharmaceuticals (CRNX): FDA Approval Sparks Biotech Breakout

Tiny Crinetics Pharmaceuticals delivered one of the day’s largest percentage gains, as its shares soared nearly 28% to around $46. This biotech’s jump was triggered by a game-changing FDA approval: late last week, the FDA greenlit Palsonify (paltusotine), Crinetics’ lead drug, as the first-ever oral therapy for acromegaly ^[30]. Acromegaly, a rare hormonal disorder, was previously treated with inconvenient injections or surgery – so an effective daily pill is a major medical milestone. Simply Wall St reported that Crinetics’ stock had already been climbing in anticipation, up over 50% in the past month, as investors bet on approval of this “first-in-class” endocrine drug ^[31]. When the official approval news hit, the stock’s rally accelerated ^[32].

Crinetics’ CEO Scott Struthers, Ph.D. celebrated the moment, stating, “With the FDA approval of our lead therapy Palsonify, today marks a new era for those living with acromegaly and also for Crinetics as a company” ^[33]. He emphasized the company’s commitment to transforming patients’ lives and thanked the clinical teams and patients who contributed to Palsonify’s development ^[34]. The approval was supported by two Phase 3 trials showing the drug achieved rapid, durable hormone control and symptom relief for acromegaly patients ^[35] ^[36]. Importantly, Palsonify was well-tolerated with no serious adverse events reported ^[37], clearing a key safety hurdle.

Investors are excited not only because Crinetics now has its first commercial product launch (expected in early October) ^[38], but also because this validates the company’s core drug platform. The biotech has a pipeline of other oral therapies for endocrine diseases; a first approval suggests its R&D approach can deliver tangible results. The stock’s 27% single-day pop reflects optimism that Palsonify could generate significant revenue in a niche market with unmet needs. Peak sales projections range from $800 million to $1.5 billion annually for acromegaly treatments ^[39], though actual uptake will depend on patient switching from injectables and insurance coverage.

Outlook: Financial analysts have grown more bullish on CRNX following the approval. Leerink Partners promptly raised its price target to $88 (maintaining “Outperform”) ^[40], implying further upside if the launch executes well. However, experts caution that commercial execution is the next big test. As Simply Wall St observed, Crinetics must rapidly ramp up sales to justify its valuation, since the company remains unprofitable and is not projected to break even for a few years ^[41]. The biotech now faces the challenge of marketing Palsonify, securing insurance reimbursement, and possibly expanding the label in future. Any early sales figures or prescription trends will be closely watched. For now, sentiment is highly positive – a first FDA approval is a transformative event for a clinical-stage pharma. Just days after approval, some analysts even see Crinetics as undervalued relative to its long-term potential ^[42], though others warn that reliance on a single product is inherently risky ^[43]. In sum, CRNX’s big win has put it on the radar of growth investors looking for the next biotech success story.

QMMM Holdings (QMMM): Crypto Hype Stock Rockets – and Halts

One of the more eye-popping moves on the gainers list was QMMM Holdings Ltd., a little-known “digital media advertising” firm that became a darling of speculative traders this month. QMMM’s stock price has been on a mind-bending tear – up 959% in under three weeks ^[44] – after the company announced plans to establish a “diversified cryptocurrency treasury.” In early September, QMMM proclaimed it would allocate up to $100 million to buy Bitcoin, Ethereum, and Solana for its corporate treasury ^[45]. This bizarre pivot toward crypto assets (seemingly unrelated to its core ad business) set off a feeding frenzy among momentum traders on social media. By last Friday, QMMM closed around $119, up from roughly $10 at the start of the month ^[46] – an astonishing climb of over 1,100%. On Monday the 29th, Yahoo Finance data showed QMMM as a “Day Gainer” again, up about 19% from its prior close ^[47].

However, this parabolic surge came to an abrupt end mid-day Monday when regulators stepped in. The U.S. Securities and Exchange Commission (SEC)suspended trading in QMMM effective immediately, citing concerns that the stock’s meteoric rise “may have been manipulated by touts on social media” ^[48]. In other words, authorities suspect that pump-and-dump promoters helped fuel the frenzy around QMMM’s crypto news. The SEC’s halt order, announced September 29, will keep QMMM shares frozen until at least October 14 while regulators investigate ^[49]. Notably, this isn’t the first red flag: QMMM had already drawn attention for gaining over 2,000% in a month with little fundamental explanation ^[50].

For traders who piled in, the halt is a harsh reminder of the risks of thinly traded microcaps. QMMM’s underlying business remains murky – apart from a flashy crypto plan, there’s scant financial info (the company’s market cap at last trade was around $4 billion, implying extremely rich valuation given minimal known revenue). The Bloomberg report on the halt noted QMMM’s case illustrates how quickly regulators will act against suspected manipulation in today’s meme-stock environment ^[51]. It’s a scenario reminiscent of 2021’s GameStop saga, albeit on a smaller scale and without the retail investor goodwill.

Outlook: With trading halted, QMMM’s short-term fate is uncertain. Often, when such halts lift, extreme volatility ensues – prices can crash if the hype doesn’t resume. The SEC could also uncover fraud or force disclosures that temper the mania. In a Yahoo Finance commentary, an analyst quipped that QMMM had turned into “the poster child of speculative excess”, up on hype rather than fundamentals ^[52]. Long-term investors would be wise to exercise caution; until proven otherwise, QMMM looks like a speculative bubble that has now been pricked. The company will need to show tangible progress on its crypto treasury (and clarify why an ad tech firm needs one) to regain credibility. For now, this stock’s wild ride has paused, and many traders are left holding the bag. Regulators’ swift action also sends a broader signal: the 2025 market isn’t afraid to chase moonshot stocks, but watchdogs are equally quick to tap the brakes when things look fishy.

Scholar Rock (SRRK): FDA Setback Proves Short-Lived as Bulls Buy the Dip

Scholar Rock Holding Corp. – a biotech focused on muscular disorders – saw its shares rebound sharply, up over 12% on the day, as investors looked past a recent regulatory setback. Just a week earlier, on Sept. 23, Scholar Rock announced the FDA declined to approve its drug apitegromab (a treatment for spinal muscular atrophy) by the expected decision date ^[53]. The FDA issued a Complete Response Letter (CRL) citing issues at a third-party manufacturing facility (Catalent’s Indiana plant) – essentially a delay until the factory fixes those problems ^[54]. Importantly, the FDA did not cite any safety or efficacy flaws in apitegromab itself ^[55]. This distinction was crucial: it signaled that the drug’s science remains sound, and the roadblock is mainly procedural.

Initially, the CRL news sent SRRK stock down about 12% in pre-market trading on Sept. 23 ^[56]. But by market close that day, shares actually closed higher – a sign that investors had anticipated the delay (given widely known issues at Catalent) and were relieved the drug wasn’t outright rejected ^[57] ^[58]. By September 29, sentiment had flipped to optimism: Scholar Rock confirmed it will resubmit its FDA application once Catalent resolves the manufacturing observations ^[59] ^[60]. Several biotech analysts publicly stated they do not see the CRL materially reducing apitegromab’s approval chances ^[61]. “With [the FDA’s concerns] not specific to the drug, we expect the issue to be resolved in under three months,” wrote BMO Capital’s analyst Evan Seigerman, predicting only a modest delay ^[62].

Traders seemed to agree. On the 29th, SRRK surged into the high-$30s per share, nearing its 52-week highs. The stock’s recovery reflects confidence that final FDA approval is still likely once manufacturing is sorted. It also didn’t hurt that Scholar Rock’s therapy targets a lucrative indication – spinal muscular atrophy (SMA) – where analysts project potential revenues around $2 billion by the early 2030s if apitegromab succeeds ^[63]. SMA is a rare disease but one with high unmet need, and apitegromab, if eventually approved, would be positioned to complement existing SMA drugs by preserving muscle during treatment ^[64].

Outlook: The clock is ticking for Catalent (which was recently acquired by Novo Nordisk) to fix its production facility issues ^[65]. Assuming they do so in the coming quarter, Scholar Rock aims to refile for approval promptly ^[66], potentially getting apitegromab approved on a second try in 2026. In the meantime, analyst sentiment remains bullish – no downgrades followed the CRL, and in fact some see the recent dip as a buying opportunity, given that the drug itself demonstrated strong Phase 3 efficacy. There is a broader trend here: manufacturing snags (often at third-party sites) have caused surprise FDA delays for multiple biotechs lately ^[67] ^[68], but investors are learning to discern delays vs. denials. In Scholar Rock’s case, the delay hasn’t shaken confidence. Risks remain (any prolonged delay could let competitors catch up, and nothing is guaranteed in biotech), but for now the market’s mood is optimistic. Scholar Rock’s rebound showcases how quickly sentiment can reverse when investors believe a drug’s core value is intact despite regulatory twists.

Perpetua Resources (PPTA): Critical Minerals Push Lifts Mining Stock

Perpetua Resources Corp., a U.S.-Canadian mining developer, saw its stock price climb ~11% to around $21, propelled by encouraging news about its flagship Stibnite Gold Project in Idaho. While gold is part of Perpetua’s story, Monday’s excitement centered on antimony – a lesser-known but critical mineral in which Perpetua’s project happens to hold the only U.S. reserve ^[69]. Antimony is used in munitions and industrial materials, and China currently dominates its supply. With geopolitical tensions and China’s export restrictions in play, there’s strong U.S. interest in developing domestic sources.

On September 26, Perpetua announced “next steps” to secure a domestic antimony supply chain ^[70]. The U.S. Forest Service recently granted Perpetua a conditional Notice to Proceed on mine construction (a major permit milestone) ^[71]. Now the company is launching a process to select an off-site antimony processing partner, issuing an RFP (Request for Proposal) to identify the best facility to refine its antimony concentrate ^[72] ^[73]. Perpetua has already been in talks with industry players like Glencore and Trafigura about potential partnerships ^[74] ^[75]. The goal is to have a partner chosen by Q4 2025 and lock in long-term off-take agreements for the antimony byproduct of its future gold mining operations ^[76].

In an accompanying statement, CEO John “Jay” Cherry emphasized the strategic importance: “America needs a secure and robust supply of antimony,” Cherry said, noting that while work is underway with the U.S. Army to supply antimony trisulfide for defense munitions, it’s also time to address needs of U.S. manufacturing and industry ^[77]. Indeed, Perpetua has an existing agreement with the Department of Defense worth up to $22.4 million to demonstrate a domestic antimony supply for military use ^[78]. This dual track – defense and commercial supply – puts Perpetua at the nexus of U.S. critical mineral policy. Investors responded very favorably to the update, seeing it as validation that Perpetua’s project is advancing on schedule and could receive further government support. The stock’s double-digit percentage gain on heavy volume suggests increasing conviction that the once-stalled Stibnite project will actually get built.

Outlook: Perpetua’s rally comes after a volatile year – the stock is up ~16% in the past week alone ^[79], but still trades at a modest ~$400 million market cap, reflecting its pre-revenue, permitting-stage status. Looking ahead, key catalysts will be the selection of an antimony processing partner by year-end and the finalization of remaining permits. Each concrete step derisks the project. Analysts have noted significant upside if Stibnite reaches production: not only could it produce ~150k ounces of gold per year, but also ~35% of U.S. annual antimony demand for the first six years ^[80]. However, execution risks remain – from environmental court challenges to construction financing (the mine carries a hefty capital cost). For now, market sentiment is positive and somewhat patriotic: Perpetua is increasingly viewed as a strategic U.S. supply chain play. If the U.S.–China trade tension persists, Perpetua’s ability to fill a critical minerals gap gives it a tailwind. CEO Cherry’s confident tone and the stock’s recent momentum suggest that investors are optimistic but watchful as the company moves from planning to development phase.

Other Noteworthy Gainers: Tech & Industrials Join the Party

Beyond the headline-grabbing stories above, several other stocks enjoyed strong gains on September 29:

GlobalFoundries (GFS) – The U.S.-based semiconductor foundry climbed about 8% Friday and another 6.6% on Monday ^[81] ^[82], riding a wave of bullish sentiment in the chip sector. The rally in GFS to ~$38 came as investors rotated into tech hardware plays and after the company’s recent earnings beat (Q2 EPS of $0.42 topping estimates) ^[83]. GlobalFoundries has also benefited from big government incentives – it secured a $1.5 billion federal CHIPS Act award to expand its New York fab ^[84] – reinforcing its role in the domestic chip supply chain. Analysts currently have a Hold rating on GFS on average, with a consensus price target around $44 ^[85] (about 15% above the latest close), reflecting moderate optimism for further upside as the semiconductor cycle improves.
Hims & Hers Health (HIMS) – The telehealth and wellness retailer’s stock rose roughly 6% Monday amid continued momentum in healthcare tech names. HIMS is a high-growth story – it’s up 129% year-to-date ^[86] – driven by booming demand for its online prescription services (ranging from hair loss meds to mental health). In Q2 2025, Hims & Hers posted 73% revenue growth year-over-year ^[87], showcasing remarkable expansion. The stock has been volatile, however, recently dipping on news the FDA warned about custom-compounded weight-loss drugs on its platform ^[88]. Monday’s bounce suggests investors are buying the dip, trusting the company’s core telehealth model remains strong. At ~$58, HIMS trades about 16% below its 52-week high ^[89] – a gap bulls hope to close if growth stays on track. Market sentiment is cautiously optimistic, balancing HIMS’ rapid sales growth against regulatory and competitive risks in the digital health space.
Carpenter Technology (CRS) and ATI Inc. (ATI) – These two specialty metal alloy producers saw their shares jump 7–8% each, continuing a recent uptrend for advanced materials suppliers. CRS (closing around $250) and ATI (~$82) are benefiting from robust demand in aerospace, defense, and energy end-markets. Carpenter, for instance, reported a 21% YoY increase in operating income in its latest quarter as aerospace orders for its titanium and nickel alloys surged ^[90]. Multiple Wall Street analysts have subsequently raised price targets on Carpenter – BTIG now sees $305/share as fair value (Buy rating) ^[91] – implying further upside. Both companies have also seen insider selling (Carpenter’s CEO sold shares in September) ^[92], but that hasn’t deterred investors. The backdrop of rising defense spending and aircraft production creates a favorable demand picture. With relatively high betas (~1.4–1.5), these stocks are volatile, but their 30%+ one-year upside potential (per some estimates) highlights the reward if current trends persist ^[93]. Monday’s jump suggests momentum traders and fundamental investors alike are rotating into industrial metal plays on expectations of continued economic resilience.

Conclusion: Themes Driving the Day’s Gainers

The top gainers of September 29, 2025 underscore a few key market themes. First, M&A and buyout speculation can still ignite big moves – Electronic Arts’ outsized premium proved that investors will quickly bid up a stock to arbitrage a takeout, especially when mega-deals resurface after a lull. Second, innovation and positive FDA news remain powerful catalysts in biotech; Crinetics and Scholar Rock show that the market rewards drug approvals (or even merely less-bad-than-feared FDA outcomes) with substantial rallies, reflecting the high risk/reward nature of the sector. Third, the speculative fervor around crypto and meme-like stocks is alive and well (as QMMM’s saga demonstrated), but it’s now met with a swifter regulatory response – a dynamic that traders must heed. Lastly, broader macro currents – like the push for domestic industrial base (Perpetua’s antimony, GlobalFoundries’ chips) and the ongoing AI/tech momentum (which lifted many names) – are feeding into individual stock narratives.

Investor sentiment on this day was broadly risk-on, with traders willing to chase big stories even as Washington drama brewed in the background. As the market looks ahead, those stocks that gained now face the task of living up to the hype: EA must close its deal; Crinetics must execute its drug launch; Scholar Rock needs that manufacturing fix; QMMM…perhaps needs a reality check. For the public audience of investors and observers, days like September 29 serve as a reminder that the stock market is driven not just by macroeconomic tides, but by a mosaic of company-specific developments – some fundamentally sound, others fantastical. The common thread for these gainers was catalytic news flow that cut through broader market noise. In a year where the S&P 500 and Nasdaq have climbed steadily ^[94], these big movers show that stock-picking and news-tracking can yield dramatic results even in a mostly steady market. As always, due diligence is key – but fortunes favored the bold (and informed) on this particular trading day.

Sources: Company press releases and filings; Yahoo Finance market data; Reuters and Bloomberg news reports ^[95] ^[96] ^[97] ^[98] ^[99] ^[100] (see inline citations for details).