Top Gainers on the US Stock Market Today (December 9, 2025): AFJK, NCPL, XCUR, ALEX and More Surge as Fed Meeting Looms

US stocks spent Tuesday in a cautious, sideways mood as traders waited for the Federal Reserve’s final interest‑rate decision of 2025. The Dow inched higher, the S&P 500 was roughly flat, and the Nasdaq drifted slightly lower, even as expectations hardened around another rate cut and a closely watched press conference from Fed Chair Jerome Powell. ^[1]

Beneath the calm surface of the major indices, however, a cluster of small‑ and mid‑cap names exploded higher, posting double‑ and even triple‑digit gains on deal news, biotech data, SPAC extensions, and debt‑restructuring headlines.

Today’s Top 20 US Stock Market Gainers (Intraday, Dec. 9, 2025)

Based on intraday data from StockAnalysis.com’s Gainers Today dashboard (Dec. 9, 2025): ^[2]

AFJK – Aimei Health Technology Co., Ltd – +179.88% to $22.39
NCPL – Netcapital Inc. – +134.48% to $1.545
OCG – Oriental Culture Holding LTD – +66.41% to $4.36
XCUR – Exicure, Inc. – +62.48% to $8.66
ATMV – AlphaVest Acquisition Corp – +51.82% to $11.91
ALEX – Alexander & Baldwin, Inc. – +37.98% to $20.89
DBI – Designer Brands Inc. – +32.16% to $6.41
IBIO – iBio, Inc. – +32.04% to $2.205
DGNX – Diginex Limited – +27.74% to $10.13
KITT – Nauticus Robotics, Inc. – +24.86% to $1.09
GIPR – Generation Income Properties, Inc. – +23.33%
TROX – Tronox Holdings plc – +20.67% to $4.53
QMMM – QMMM Holdings Limited – +19.40% to $119.40
CV – CapsoVision, Inc. – +18.82% to $8.65
RDAC – Rising Dragon Acquisition Corp. – +18.18% to $13.00
KLRS – Kalaris Therapeutics, Inc. – +17.69% to $7.25
FLWS – 1‑800‑FLOWERS.COM, Inc. – +17.47% to $4.37
RNAC – Cartesian Therapeutics, Inc. – +16.96% to $7.86
ILLR – Triller Group Inc. – +16.80% to $0.62
MAMA – Mama’s Creations, Inc. – +16.37% to $13.01

The rally was highly concentrated in thinly traded names. Many of today’s top gainers sit in biotech, SPACs, specialty REITs, or other corners of the market where news and low float can combine into outsized moves.

Macro Backdrop: Fed Anxiety, Mixed Indexes, and AI Still in Focus

Before diving into the individual winners, it’s worth understanding the macro environment:

Fed meeting kicks off: Investors are positioning ahead of the Federal Reserve’s two‑day policy meeting, with futures markets pricing in another rate cut and close scrutiny of the 2026 dot plot. ^[3]
Indices mixed: Live coverage from major outlets shows the Dow edging higher, the S&P 500 roughly flat, and the Nasdaq modestly lower, as traders weigh rate expectations against stretched valuations in mega‑cap tech. ^[4]
Nvidia and AI remain thematic drivers: Nvidia’s China chip sales and broader AI spending remain central to the bull case for US equities, even on a day dominated by micro‑cap and special‑situation stories further down the market cap spectrum. TechStock²+1

With the macro narrative dominated by the Fed and AI, today’s top gainers list is a reminder that idiosyncratic catalysts can still overshadow index‑level noise.

1. Aimei Health Technology (AFJK): SPAC Clock Ticks, Stock Explodes

Move: +179.9% to $22.39

What happened:
Aimei Health Technology, a special‑purpose acquisition company (SPAC), rocketed after announcing yet another extension to its business‑combination deadline.

According to an auto‑generated news summary on TipRanks, Aimei extended the deadline to complete its initial business combination from December 6, 2025 to January 6, 2026, depositing roughly $34,331 into its trust account to fund the extension. This is the 13th extension under its current Articles of Association. The funding came via an unsecured promissory note from the sponsor and United Hydrogen Group, convertible into private units of the SPAC. ^[5]

Why markets care:

Repeated extensions often spark speculation that a deal may be close, even if no target is yet announced publicly.
The ability to keep funding the trust and extend again can signal confidence from sponsors—but can also highlight that a suitable target hasn’t been locked in yet.
With SPAC floats typically small, modest incremental demand can translate into very large percentage moves, as seen today.

Risk and outlook:
There’s still no definitive merger announcement on the table. If no deal materializes by the new January deadline—and extensions cease—the upside move could reverse quickly. Traders are effectively betting that either a deal is imminent or that the redemption math will continue to support the share price.

2. Netcapital (NCPL): New CEO, Blockchain Ambitions, and a Big Inducement Grant

Move: +134.5% to $1.545

The news flow behind the surge:

Leadership shakeup and blockchain pivot
A detailed note from StocksToTrade highlights that Netcapital shares have been “trading up by 129.17%” amid a wave of strategic changes. The article credits: ^[6]
- The appointment of Rich Wheeless as the new CEO, which previously triggered a sharp positive reaction.
- Plans to incorporate blockchain and tokenized securities into its digital private‑markets platform, including partnerships to support compliant secondary trading.
Revenue‑linked inducement grant
Separately, a StockTitan summary of a GlobeNewswire release explains that Netcapital granted a 1,000,000‑share inducement restricted stock award to a new employee under its 2023 Omnibus Equity Incentive Plan. ^[7]
- The award vests in March 2027 only if revenue targets between $900,000 and $1.5 million are met for the period February 1, 2026–January 31, 2027.
- StockTitan’s AI “Argus” tool notes the stock was up about 150% since the news, with trading volume more than 200× its 20‑day average, underscoring how concentrated today’s buying has been. ^[8]

How analysts and commentators are reading it:

The inducement grant ties dilution to future revenue performance, which some traders view as a positive alignment of incentives.
At the same time, the company still has an active $50 million shelf registration and a history of steep post‑news drawdowns, highlighting ongoing capital‑raising risk. ^[9]
StocksToTrade’s commentary frames the move as part of a broader “turnaround narrative” around leadership and strategy rather than a clean bill of fundamental health. ^[10]

For now, NCPL is squarely in momentum‑stock territory: the story is improving, but the valuation is being set almost entirely by short‑term traders rather than traditional fundamental investors.

3. Oriental Culture Holding (OCG): China Collectibles Platform Roars Back

Move: +66.4% to $4.36

Oriental Culture Holding, an online marketplace for collectibles and artwork focused on Chinese markets, surged into the third‑place slot on today’s gainer list. ^[11]

Recent filings and coverage paint a mixed fundamental picture:

In mid‑November, the company reported first‑half 2025 revenue of just $0.1 million, down sharply from $0.4 million a year earlier, and swung to a $4.5 million loss from operations versus operating income the prior year. ^[12]
StockTitan’s OCG page lists the name among its top gainers and shows a micro‑cap valuation around the mid‑tens of millions, underscoring how small changes in demand can move the stock dramatically. ^[13]

Interpretation:
Today’s explosive move appears to be less about fresh fundamentals and more about:

Very low float and liquidity
A revival of speculative interest in China‑linked micro‑caps
Short covering after months of poor performance

With such thin underlying business metrics, OCG will likely remain highly volatile and extremely sensitive to any update on revenues or regulatory risk.

4. Exicure (XCUR): ASH Data Ignites a Biotech Short Squeeze

Move: +62.5% to $8.66

Few stories today are as clearly catalyst‑driven as Exicure.

A detailed breakdown on Parameter.io reports that Exicure stock surged about 140% in after‑hours trading on Monday after releasing positive Phase 2 trial data for its investigational drug burixafor in multiple myeloma patients. ^[14]

Key data points from that coverage and other market reports:

89.5% of trial participants collected enough CD34+ stem cells for transplant within two leukapheresis sessions, meeting the primary endpoint. ^[15]
In patients previously treated with daratumumab, a group typically harder to mobilize, 87.5% still met the endpoint, suggesting a potential advantage in difficult cases. ^[16]
Burixafor achieved peak stem‑cell levels within about one hour of administration, raising the possibility of same‑day dosing and collection, which could significantly simplify transplant logistics. ^[17]
Safety data looked clean, with no treatment‑related adverse events above Grade 2 in the reported trial. ^[18]

The bigger picture:

Exicure is still a cash‑constrained clinical‑stage biotech, with recent financials showing multi‑million‑dollar annual losses and a modest cash runway. ^[19]
Commentators expect the company will need to raise capital or secure a partnership to fund Phase 3 trials, even as the ASH data materially de‑risks the program. ^[20]

Today’s gain is a classic example of binary‑event biotech trading: the science suddenly looks much more credible, but execution, financing, and regulatory paths remain complex.

5. AlphaVest Acquisition (ATMV) and the SPAC Bid for Attention

Move: +51.8% to $11.91

AlphaVest Acquisition, another SPAC, rounded out the top five. StockAnalysis shows the stock up more than 50% on the day, on nearly 10 million shares of volume, compared with a typical daily volume measured in tens of thousands. ^[21]

A StocksToTrade “morning movers” note flagged ATMV among the most volatile names in early trading, but, as of publication time, no major new merger announcement or SEC filing is dominating public coverage. ^[22]

The spike looks driven primarily by:

SPAC‑sector speculation
Extremely low float and heightened algorithmic trading activity
Sympathy moves with other extension‑stage SPACs like AFJK

Until a specific deal or redemption timetable is disclosed, ATMV is likely to remain a pure trading vehicle rather than a fundamentally anchored investment.

6. Alexander & Baldwin (ALEX): Classic Take‑Private Pop

Move: +38.0% to $20.89

Real‑estate company Alexander & Baldwin, a Hawaii‑focused REIT and operator of industrial and commercial properties, jumped after announcing a $2.3 billion all‑cash take‑private deal.

Reuters and Investing.com report that the company agreed to be acquired by a consortium including MW Group, Blackstone, and DivcoWest, with shareholders set to receive $21.20 per share in cash, subject to adjustment for a declared dividend. ^[23]
TipRanks’ summary of the merger agreement notes that the transaction was unanimously approved by the board, and that ALEX will cease to exist as a separate public entity after closing. ^[24]

Commentary from real‑estate analysts points out that:

ALEX had slid roughly 19% over the last three months before the deal, putting it squarely on value investors’ radar. ^[25]
The consortium is particularly interested in the company’s Pacific logistics and industrial assets, which tie into broader themes of supply‑chain resilience and sustainable development. ^[26]

For shareholders, today’s move largely reflects arbitrage toward the agreed take‑out price. Future upside from here will depend on the probability and timing of deal closing and any potential competing bids—though none have surfaced publicly so far.

7. Designer Brands (DBI): Earnings Beat Sparks a Short Squeeze

Move: +32.2% to $6.41

Footwear and accessories retailer Designer Brands delivered one of the day’s biggest fundamentally driven rallies.

A StockStory earnings piece notes that Q3 CY2025 sales fell 3.2% year‑on‑year to $752.4 million, missing revenue expectations, but non‑GAAP EPS came in at $0.38, well above analyst estimates. ^[27]
A Zacks Equity Research note adds that the EPS print more than doubled the consensus forecast of $0.18 and exceeded last year’s $0.27 per share. ^[28]
Management guided for FY25 revenue to be down 3–5% but reiterated an adjusted operating‑profit target of $50–55 million, signalling that margin work is offsetting top‑line softness. ^[29]

The result: a stock that had been heavily discounted on fears of persistent demand erosion suddenly looks less broken than bears assumed.

Analysts remain cautious on long‑term growth, but today’s move shows how even a “better‑than‑feared” quarter can trigger a violent reset in expectations when short interest is elevated.

8. iBio (IBIO): Obesity‑Drug Story Stays in Play

Move: +32.0% to $2.205

Small‑cap biotech iBio continued a multi‑day rally tied to its pipeline of obesity‑related biologics and a recent strengthening of its balance sheet.

A trading‑focused deep dive from Timothy Sykes (published yesterday) highlighted a 40% intraday jump in IBIO alongside commentary on the company’s improved cash position after an underwritten public offering and promising preclinical data on obesity targets. ^[30]
iBio appeared again in an RTTNews after‑hours recap as one of Monday’s top movers, with the stock up about 39% in the regular session and another 8% after hours, even without fresh company‑specific announcements that day. ^[31]

Earlier in the year, Investing.com and other outlets covered preclinical success for an engineered amylin receptor antibody, which helped put the name on the speculative‑biotech map. ^[32]

Today’s price action looks like a continuation of that momentum + obesity‑drug narrative. Investors should keep in mind that the program remains preclinical; valuation is being driven mainly by sentiment and optionality, not near‑term cash flows.

9. Diginex (DGNX): Compliance Tech + 293% Revenue Growth

Move: +27.7% to $10.13

Diginex Limited, a digital‑compliance and ESG reporting platform, rallied on a substantial fundamentals‑driven catalyst.

A new release from the company and multiple summaries (including QuiverQuant and Morningstar’s news feed) report that Diginex’s unaudited revenue for the six months ended September 30, 2025 rose 293% to about $2.0 million, up from $0.5 million in the prior‑year period. ^[33]
The company also highlighted an improved balance sheet, with net assets rising to roughly $10.9 million and progress on strategic acquisitions and AI‑driven climate‑data platforms. ^[34]

The story here is less about meme‑like volatility and more about:

“Reg‑tech” tailwinds as regulators worldwide ramp up ESG and disclosure requirements
Diginex’s positioning as infrastructure for corporate compliance backlogs, particularly in Europe and Asia

Growth is coming off a small base and the company remains loss‑making, but today’s move reflects growing investor confidence that Diginex can turn regulatory complexity into a scalable SaaS‑style business.

10. Nauticus Robotics (KITT): Debt Restructuring Rally Rolls On

Move: +24.9% to $1.09

Underwater robotics company Nauticus Robotics extended a remarkable multi‑session rebound.

On December 3, TipRanks reported that Nauticus had restructured its debt with a new preferred‑stock arrangement, swapping certain existing obligations for preferred equity and seeking to simplify its capital structure. ^[35]
Ainvest later noted that shares rose more than 110% on December 4, 2025, as traders reacted to the transaction and speculated on Nauticus as a beneficiary of growing interest in AI‑enabled robotics and offshore automation. ^[36]

Today’s additional 25% jump suggests:

Continued short covering and momentum trading
Renewed attention from speculative investors to the intersection of AI, robotics, and energy infrastructure

Fundamentally, the company still faces meaningful losses and funding needs, as underscored by recent quarterly reports. ^[37] The debt deal may buy time, but doesn’t eliminate execution risk.

Other Notable Movers from the Top‑20 List

Tronox Holdings (TROX): Rare‑Earth Financing Boost

Tronox, a titanium‑products producer with ambitions in rare‑earths, jumped more than 20% after securing conditional, non‑binding support for up to $600 million in project financing from the US Export‑Import Bank and Export Finance Australia to advance its rare‑earth strategy. ^[38]

Reuters and other outlets report that the backing would help Tronox develop a strategic rare‑earth supply chain, a theme that resonates strongly with investors focused on Western alternatives to Chinese supply. ^[39]

1‑800‑FLOWERS.COM (FLWS): New CIO, Old Turnaround Hopes

Gift and floral‑delivery company 1‑800‑FLOWERS.COM climbed more than 17%. Recent news includes the appointment of Alexander Zelikovsky as Chief Information Officer, effective December 8, 2025, with a mandate to lead AI and digital‑tech initiatives. ^[40]

Valuation‑oriented analysis from independent platforms has argued that FLWS trades well below many intrinsic‑value estimates, leaving room for upside if management can stabilize revenue and margins. ^[41] Today’s move likely reflects a mix of tech‑upgrade optimism and deep‑value repositioning.

Triller Group (ILLR): Nasdaq Extension Buys Time

Triller Group, the social‑video and creator‑economy platform, gained nearly 17% after announcing that a Nasdaq hearings panel had granted an exception period to regain listing compliance, including a requirement to restore the bid price to at least $1.00 and file outstanding reports. ^[42]

TipRanks’ AI “Spark” tool still rates the stock Underperform, citing negative cash flows, high leverage, and weak profitability, but acknowledges that the extension creates a clearer path—at least procedurally—toward full compliance. ^[43]

Mama’s Creations (MAMA) and Others

Mama’s Creations (MAMA) appeared in Benzinga’s list of top pre‑market movers, with shares trading more than 13% higher early in the session. ^[44] Public coverage so far has focused more on trading action than a single new fundamental catalyst.
CapsoVision (CV) continued its post‑IPO ascent, supported by recent Q3 results and a growing narrative around its AI‑enabled capsule endoscopy technology. ^[45]
Generation Income Properties (GIPR) and Rising Dragon Acquisition (RDAC) enjoyed smaller‑cap REIT/SPAC momentum after prior announcements about property sales, balance‑sheet shifts, and an approved SPAC merger vote. ^[46]

How Today’s Gainers Fit Into the 2025 Market Narrative

A few themes connect many of today’s biggest moves:

Event‑Driven Microcaps Dominate
Most of the day’s largest percentage gainers are micro‑cap or small‑cap names reacting to specific events—trial data, merger announcements, board decisions, or listing‑compliance updates—rather than broad macro trends.
AI, Compliance, and Obesity Drugs as “Story Stocks”
- Exicure (XCUR) and iBio (IBIO) plug into health‑care innovation narratives.
- Diginex (DGNX), CapsoVision (CV), and Nauticus (KITT) sit at the intersection of AI + real‑world infrastructure (compliance, medical imaging, and robotics).
- These themes align with 2025’s broader investor fascination with AI and regulatory tech, even when fundamentals are still emerging.
Rate‑Cut Hopes Support Risk Appetite—But Don’t Explain Everything
While the Fed’s expected rate cut helps, the major indices remained largely flat today. The truly outsized moves were almost all driven by stock‑specific catalysts, not by the macro backdrop alone. ^[47]
Speculation vs. Fundamentals
- Names like ALEX and TROX rallied on clear, cash‑flow‑relevant news: a take‑private premium and a potential $600 million financing line. ^[48]
- Others—especially certain SPACs and microcap biotechs—rose primarily on speculation, technicals, and low float, with fundamentals either still developing or recently negative.

What This Means for Investors and Traders

For short‑term traders, days like today underline the importance of:

News scanning and catalyst tracking, particularly in small caps
Monitoring volume and float, which often matter more than long‑term valuation in intraday setups
Understanding that post‑news follow‑through can be just as violent on the downside as on the upside

For longer‑term investors, the key takeaway is different:

Many of these names remain high‑risk and highly speculative, despite dramatic one‑day gains.
A few—such as Alexander & Baldwin, Tronox, Diginex, or Designer Brands—are tied to clear, balance‑sheet or cash‑flow‑relevant developments that justify closer fundamental study.

As always, this article is for informational purposes only and not investment advice. Anyone considering trading or investing in these stocks should conduct their own research, review SEC filings, and consider risk tolerance and time horizon carefully.