The U.S. stock market logged another upbeat session on Friday, December 5, 2025, with the S&P 500, Nasdaq 100 and Dow all edging higher. But beneath the index-level moves, a cluster of highly volatile small caps, high‑growth tech names and a few mid‑caps stole the show with spectacular double‑ and even triple‑digit gains. [1]
Below is a breakdown of the biggest stock gainers today, why they moved, and what recent forecasts and analyst commentary suggest about their outlooks. All data and price moves refer to the U.S. session on December 5, 2025, unless otherwise noted.
Top 10 Biggest U.S. Stock Gainers Today (By % Move)
Based on intraday data from StockAnalysis, these were the top U.S.-listed gainers by percentage move on December 5, 2025: [2]
- Treasure Global Inc. (NASDAQ:TGL) – up ~276%
- SMX (Security Matters) Public Ltd. (NASDAQ:SMX) – up ~135%
- Wheeler Real Estate Investment Trust, Inc. (NASDAQ:WHLR) – up ~98%
- DigitalBridge Group, Inc. (NYSE:DBRG) – up ~45%
- Toro Corp. (NASDAQ:TORO) – up ~40%
- Dreamland Limited (NASDAQ:TDIC) – up ~40%
- Lichen International Limited (NASDAQ:LICN) – up ~39%
- Springview Holdings Ltd (NASDAQ:SPHL) – up ~36%
- Alumis Inc. (NASDAQ:ALMS) – up ~34%
- Top KingWin Ltd (NASDAQ:WAI) – up ~32%
Just outside the very top of the list but still posting eye‑catching gains were Praxis Precision Medicines (NASDAQ:PRAX), Rubrik (NYSE:RBRK) and several other active names, which we cover in more detail below. [3]
1. Treasure Global (TGL): Reverse Split + Deal Hype = 270%+ Explosion
Move: TGL rocketed more than 270% today, making it the single biggest gainer on U.S. exchanges. [4]
What happened today
- Treasure Global implemented a 1‑for‑20 reverse stock split that became effective at the market open on December 5, helping the company regain compliance with Nasdaq’s $1 minimum bid requirement. [5]
- The stock then went parabolic as traders piled in. One widely circulated note highlighted that TGL would begin trading on a split‑adjusted basis under the same ticker from today’s session. [6]
- A separate analysis piece flagged Treasure Global’s acquisition of Quarters Elite and claimed management sees up to $150 million in potential revenue tied to the deal, framing today’s surge as a “high‑risk, high‑reward gambit.” [7]
Forecasts and risk
TGL is still a tiny company (market cap barely over $20 million even after today’s spike) with a history of steep drawdowns. [8]
- The move is driven far more by structure (reverse split) and speculative deal hype than by a long track record of profitability.
- There is very limited traditional analyst coverage; most commentary comes from trading‑focused news desks and blogs that emphasize extreme volatility and dilution risk. [9]
Takeaway: TGL is the quintessential “lottery ticket” gainer: huge percentage move, but thin float, reverse splits, and financing needs make it extremely risky for longer‑term investors.
2. SMX (Security Matters): “Repricing Event” for a Niche Infrastructure Play
Move: SMX vaulted more than 130% today, putting it firmly in second place on the gainers list. [10]
Catalyst
SMX, which builds a “material‑identity engine” for tracking and authenticating materials (gold, rare earths, ESG supply chains and tokenized assets), became the focus of an aggressive ACCESSWIRE media campaign today: [11]
- A series of releases framed SMX as the “identity layer beneath everything”, arguing that markets had dramatically underpriced the technology’s role in gold authentication, rare earth provenance, ESG circularity and digital‑asset infrastructure.
- One article characterized today’s price action as a “repricing event” where institutional investors, regulators and commercial partners supposedly “moved all at once” toward the platform. [12]
Forecasts and context
SMX is still a micro‑cap with a tiny float and long history of extreme swings. Formal Wall Street coverage is sparse, and much of the bullish narrative is driven by company‑sponsored or PR‑style content rather than independent research. [13]
Takeaway: Today’s jump reflects a narrative shift rather than confirmed earnings power. Any position here is inherently speculative.
3. Wheeler Real Estate Investment Trust (WHLR): Beaten‑Down REIT’s 90%+ Snapback
Move: WHLR surged close to 100% intraday after already posting strong gains in pre‑market trading. [14]
What drove the rally
- WHLR has been one of the market’s most bombed‑out REITs, down over 99% year‑to‑date before today despite a reverse split and asset sales. [15]
- The stock’s dramatic rebound is tied to Q3 2025 earnings, which showed:
- Revenue around $23.8 million vs. ~$24.8 million a year earlier.
- A swing to net income of roughly $8.9–11.5 million from a large loss in Q3 2024, helped by gains on derivatives and property disposals. [16]
- Coverage today highlighted the magnitude of the rebound and short‑squeeze dynamics, even while stressing that the stock is still massively below prior levels. [17]
What analysts are watching
Traditional REIT investors remain cautious:
- The move is driven largely by capital structure, leverage and derivatives, not a straightforward boom in rental income. [18]
- WHLR still faces questions about balance‑sheet sustainability and long‑term access to capital.
Takeaway: WHLR’s rally is huge in percentage terms but comes off a very low base. For fundamentals‑driven investors, it’s more speculative turnaround story than stable income play.
4. DigitalBridge Group (DBRG): SoftBank Takeover Talk Ignites Digital Infrastructure
Move: DBRG jumped around 45%, hitting a new 52‑week high near $14. [19]
The story
- Reuters reported that SoftBank is in talks to acquire DigitalBridge, a U.S. digital‑infrastructure specialist that manages about $108 billion in assets across data centers, fiber, small cells and edge infrastructure. [20]
- Separate coverage noted that SoftBank sees DBRG’s portfolio as a way to deepen its exposure to AI‑driven infrastructure and potentially align with mega‑projects such as the “Stargate” AI data‑center initiative. [21]
Forecasts and valuation
Analyst commentary turned sharply more constructive:
- JPMorgan reiterated an Overweight rating and suggested that a take‑private deal could imply a value in the $25–35 per share range, well above today’s price, while maintaining a public‑market target of $18. [22]
- A forecast aggregation site shows 7–8 analysts rating DBRG a “Buy” or “Strong Buy”, with average 12‑month price targets around $16.8–16.9, implying upside vs. pre‑rally levels (though now narrower after today’s jump). [23]
Takeaway: Unlike many micro‑cap movers, DBRG’s rally is rooted in credible M&A chatter in a hot sector (AI infrastructure). If talks stall, however, the stock could give back a meaningful part of today’s gain.
5. Toro Corp. (TORO): Special Dividend + Higher Q3 Profit
Move: Shipping company Toro Corp. surged roughly 40% and traded heavily. [24]
Why TORO popped
- Toro reported Q3 2025 net income of $1.3 million, up about 30% from the prior year, on vessel revenues of $5.4 million. [25]
- The company also announced a substantial special cash dividend of $1.75 per share, payable in January 2026, which is more than 25% of the stock’s pre‑announcement trading price. [26]
- Because the dividend is so large relative to the share price, Nasdaq indicated that TORO will trade with “due bills”around the ex‑dividend period, a technical detail that can further stoke trading interest. [27]
Forecast and fundamentals
While analyst coverage is limited, valuation metrics from data providers show: [28]
- A relatively low price‑to‑book ratio (reflecting discounted shipping assets).
- Solid cash balance and no long‑term debt, but earnings highly sensitive to freight rates and fleet utilization.
Takeaway: TORO’s move blends fundamental good news (higher profit, special dividend) with yield‑chasing and short‑term trading around the unusually large payout.
6. Dreamland Limited (TDIC): $18 Million Equity Facility Sparks 40% Jump
Move: Newly listed Hong Kong‑based event‑management group Dreamland Limited rallied around 40% today, with intraday coverage citing gains between the mid‑30s and mid‑50s in percentage terms as the stock whipsawed. [29]
The catalyst
- On December 3, Dreamland entered into an $18 million equity purchase agreement with Hudson Global Ventures, allowing the company to sell ordinary shares over up to 24 months. [30]
- Commentators framed the deal as providing flexible growth capital but also noted potential dilution, especially given that TDIC is already trading far below its $4 IPO price from July. [31]
Forecasts and risks
TDIC has almost no mainstream analyst coverage yet, and many platforms categorize it as high‑risk speculative:
- One analysis notes that even after today’s bounce, the stock remains 70–95% below its 52‑week high, underscoring how deep the prior drawdown was. [32]
Takeaway: Today’s surge reflects traders reacting to new financing flexibility, but the flip side is potential ongoing share issuance and continued volatility.
7. Lichen International (LICN) and Springview Holdings (SPHL): Reverse‑Split Microcaps Back in Play
Moves:
What’s behind the moves?
Both companies fit a similar profile:
- Lichen executed a reverse stock split and rebranded earlier this year, and more recently adopted a 2025 equity incentive plan, helping fuel an extraordinary YTD return above 1,500% from prior penny‑stock levels. [35]
- Springview completed a 1‑for‑8 reverse share split effective December 2, 2025, and has since traded in a wide band, still far below its 52‑week high near $62 but sharply above recent lows. [36]
Forecast‑style sites that model technical signals and historical volatility suggest both LICN and SPHL remain high‑beta trading vehicles, with projected “fair openings” over the next few sessions only a few percent away from current prices—but with very elevated risk flags around liquidity and drawdown potential. [37]
Takeaway: These are classic post‑reverse‑split microcaps, where a tiny float and momentum flows can overwhelm fundamentals in the short term.
8. Alumis (ALMS): Biotech Rally on Insider Buying and Pipeline Hype
Move: Biotech firm Alumis Inc. rose roughly 29–34% today, setting fresh highs for the year. [38]
Why investors are excited
A widely shared analysis highlights several bullish ingredients: [39]
- A wave of insider and institutional buying, with hedge funds owning a meaningful stake in the company.
- Progress in the company’s TYK2 inhibitor pipeline, which targets autoimmune indications and is seen as a competitor in a hot drug class.
- Breaching a 52‑week high amid surging options activity and strong momentum‑trader interest.
Forecasts
- TipRanks data show an average 12‑month price target around $19.50, implying more than 100% upside versus prices before today’s move. [40]
- Other analyst compilations report a strong Buy consensus, with a large majority of covering analysts rating the stock “Buy” or “Strong Buy.” [41]
Takeaway: Unlike some of today’s microcap spikes, ALMS combines fundamental biotech catalysts with momentum. Still, all early‑stage drug developers carry high clinical and regulatory risk.
9. Praxis Precision Medicines (PRAX): Rare‑Epilepsy Data Powers Another Big Leg Up
Move: PRAX climbed around 30–31%, marking yet another strong session and pushing the stock to fresh three‑year highs. [42]
The medical catalyst
Praxis is riding a powerful wave of positive clinical news: [43]
- Its EMBOLD trial of relutrigine in rare genetic epilepsies (SCN2A and SCN8A developmental and epileptic encephalopathies) was stopped early for efficacy.
- Patients on relutrigine saw seizure reductions on the order of high‑20% vs. low‑single‑digit improvement in the placebo arm, according to one report, prompting talk of a potential first‑in‑class therapy.
- The company also received encouraging FDA feedback on ulixacaltamide for essential tremor and plans a New Drug Application in early 2026.
Analyst forecasts
Analysts are split between enthusiastic and cautious: [44]
- H.C. Wainwright raised its price target to $340, maintaining a Buy rating.
- Wedbush lifted its target to $83 but kept an Underperform rating, citing concerns over design and safety risks.
- Needham reiterated a Buy with a $250 target, while a broader consensus sits near $250–$285, implying additional upside from pre‑rally levels.
Takeaway: PRAX is now a high‑conviction but high‑risk biotech: the upside from a successful launch is substantial, but so is the downside if the FDA or further data disappoint.
10. Rubrik (RBRK): Cloud Data‑Security Star Crushes Earnings
Move: Cybersecurity and data‑management firm Rubrik jumped roughly 18–24% on the day following its fiscal Q3 2025 earnings report. [45]
Earnings beat
Rubrik delivered the kind of quarter growth investors wanted to see: [46]
- Adjusted EPS of $0.10, compared with a $0.21 loss a year ago, smashing consensus that expected another loss.
- Revenue up 48% year‑over‑year to about $350 million, well ahead of estimates around $320 million.
- Subscription annual recurring revenue (ARR) climbed to roughly $1.35 billion, with strong net new ARR and sharply improved free cash flow.
Forecasts
Analysts rushed to raise price targets:
- Rosenblatt recently lifted its target from $115 to $120, while other firms like KeyCorp also bumped targets into the $115–$120+ range and reiterated Overweight ratings. [47]
- A survey of recent notes shows a median target around $117, with the one‑year consensus target just under $115, implying analysts see more upside but at a more moderate pace after today’s move. [48]
Takeaway: Rubrik’s rally is grounded in fundamental earnings momentum and accelerating subscription economics, though expectations are now much higher.
Outside the U.S.: India’s Nifty Gainers Join the Party
While U.S. microcaps and growth names dominated the percentage charts, India’s large‑cap indices also saw notable gainers:
- On the NSE, top names such as Shriram Finance, State Bank of India, Bajaj Finserv and Adani Enterprises led today’s gainers with 2–3% moves, helping push the Sensex and Nifty to solid closes after a rate‑cut‑driven rally. [49]
These moves are smaller than the wild swings in U.S. microcaps but more relevant for long‑term institutional investors.
What Today’s Biggest Gainers Tell Us About the Market
A few themes jump out from December 5’s leaderboard:
- Structure and Speculation Matter
- Reverse stock splits (TGL, LICN, SPHL) and equity facilities (TDIC) are powerful catalysts for traders, even when they don’t immediately improve fundamentals. [50]
- M&A and Strategic Deals Drive Re‑Ratings
- DBRG’s surge on SoftBank takeover chatter shows how quickly a “value” story can flip when a credible buyer emerges in a hot vertical like AI infrastructure. [51]
- Biotech and Cybersecurity Stay in Focus
- PRAX and ALMS highlight investor appetite for high‑impact pipelines, especially in neurology and immunology.
- RBRK’s performance underlines demand for data‑security and ransomware resilience, particularly in subscription SaaS models. [52]
- Macro Tailwind, Micro Volatility
- Cooling U.S. inflation (via the Fed’s preferred PCE gauge) and rising “soft landing” odds provided a constructive backdrop, but the biggest moves were still stock‑specific rather than purely macro. [53]
Key Risks in Chasing Today’s Biggest Gainers
Before treating any of these names as straightforward “buys,” it’s worth stressing the risks:
- Thin liquidity & extreme volatility: Many of today’s top gainers trade with very small floats; intraday swings of 30–70% are common. A gap up can quickly become a gap down. [54]
- Dilution and financing: Equity purchase agreements, reverse splits and special dividends often go hand in hand with future capital raises or structural complexity (TGL, TDIC, TORO). [55]
- Binary biotech outcomes: For PRAX and ALMS, much of the value rests on future trial readouts and regulatory decisions—areas where sentiment can flip overnight. [56]
- Deal risk: DBRG’s move assumes SoftBank or another buyer ultimately steps in on favorable terms. If talks falter, the stock could retrace sharply. [57]
Bottom Line
December 5, 2025 was a textbook example of how headline‑driven catalysts, structural moves and sector tailwindscan combine to produce outsized winners:
- TGL, SMX, WHLR, TDIC, LICN and SPHL show how microcaps can explode on splits, financing news and narrative shifts.
- DBRG, TORO, ALMS, PRAX and RBRK demonstrate how takeover speculation, earnings beats and clinical data can drive more fundamentally grounded rallies.
For traders, these names offer opportunity—but also substantial downside if sentiment reverses. For long‑term investors, today’s action is a reminder to separate enduring fundamental change (like sustainable earnings growth or credible M&A) from short‑term technical fireworks.
Disclaimer: This article is for informational and news purposes only and does not constitute financial advice, investment recommendation or a solicitation to buy or sell any security. Always do your own research and consider consulting a licensed financial adviser before making investment decisions.
References
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