Tilray Brands, Inc.

Trulieve Cannabis Corp.

Green Thumb Industries Inc.

U.S. to change marijuana classification, recognizing it as a less dangerous drug

Trump signed an executive order to ease cannabis regulation. Why did the quotes collapse?

Birkenstock Holding plc

Thanks to strong consumer demand, German sandal maker Birkenstock <a href="https://www.birkenstock-holding.com/news/birkenstock-reports-fiscal-2025-revenue-growth-ahead-of-target-outperforming-adjusted-ebitda-and-earnings-growth/babd968c-dc9f-4853-8266-abf50e04088d">reported</a>&nbsp;an 18% increase in annual sales, beating its own forecast. However, the company said it now expects sales growth of 13-15% in the next fiscal year, below Wall Street <a href="https://www.bloomberg.com/news/articles/2025-12-18/birkenstock-sales-climb-as-shoppers-snap-up-its-sandals-clogs?srnd=homepage-europe&amp;sref=Y0jVLcFo">expectations</a>. Against this backdrop, Birkenstock shares <a href="https://finance.yahoo.com/quote/BIRK/">have slid</a> 13% in early trading on Thursday, December 18, in New York.

Birkenstock reports record sales in 2025, but guidance for 2026 weighing on shares

D-Wave Quantum Inc.

IonQ, Inc.

Quantum Computing Inc.

Rigetti Computing, Inc.

Shares of quantum computing company D-Wave could rise about 40% over the next two months, Freedom Broker argues in a short-term trade idea seen by <i>Oninvest</i>. A potential increase in U.S. government involvement in the sector is seen as the key growth driver. At the same time, concrete details remain limited, as “sector shares are capable of reacting sharply even to rumors,” and market dynamics “largely determined by sentiment,” Freedom wrote. Year to date, D-Wave shares have about <a href="https://finance.yahoo.com/quote/QBTS/">doubled</a>,&nbsp;yet Wall Street believes the rally is not over.

Freedom: D-Wave offers 40% upside on two-month horizon amid U.S. government support

Curaleaf Holdings, Inc.

Shares of cannabis companies jumped on Tuesday, December 16, after U.S. President Donald Trump <a href="https://edition.cnn.com/2025/12/15/politics/marijuana-white-house-reschedule">said</a>&nbsp;the White House was “very strongly” considering changing the classification of marijuana to a less dangerous drug, which he claimed would “lead to tremendous amounts of research.”

Cannabis stocks rally as Trump 'very strongly' considering reclassifying marijuana

Lemonade, Inc.

Morgan Stanley has <a href="https://www.msn.com/en-us/money/other/lemonade-upgraded-to-equal-weight-from-underweight-at-morgan-stanley/ar-AA1SsuNC">upgraded</a>&nbsp;from "underweight" to "equalweight" mid-cap insurer Lemonade while setting the <a href="https://www.marketwatch.com/investing/stock/lmnd/analystestimates?mod=mw_quote_tab">most optimistic target price</a> on Wall Street. The company is showing sustained growth in its auto insurance business and is steadily moving toward EBITDA profitability, the investment bank argued. Against this backdrop, Lemonade shares jumped more than 8% on Tuesday, December 16.

Morgan Stanley upgrades insurer Lemonade to 'equalweight', sets $85 per share TP

Andersen Group

The IPO valued the company at $1.75 billion

Andersen Group IPO: Shares of resurrected tax firm debut

ABIVAX Societe Anonyme

The YTD gain for the French biotech is still almost 1,300% 

STOXX 600 YTD leader Abivax tumbles 10% in a day on 9m25 earnings

Nektar Therapeutics

Pfizer Inc.

Eli Lilly and Company

AbbVie Inc.

Freedom Broker has issued a short-term investment idea to buy shares of Nektar Therapeutics, a small-cap biotech developing a drug for alopecia areata, an autoimmune condition that causes hair loss. On Tuesday, December 16, the company is set to <a href="https://ir.nektar.com/news-releases/news-release-details/nektar-hold-conference-call-discuss-topline-results-36-week">release</a>&nbsp;new clinical trial data on its lead therapy. If the results are positive, Nektar shares could gain about 22% over the next two months, Freedom Broker analysts said.

Freedom Broker: Nektar may jump 22% in two months on potential upbeat trial results

Luminar Technologies, Inc.

AB Volvo (publ)

Luminar Technologies, a small-cap manufacturer of lidar sensors used by vehicles to detect objects in their surroundings, <a href="https://finance.yahoo.com/quote/LAZR/">plunged</a>&nbsp;more than 60% to an all-time low on Monday, December 15. The company, whose IPO <a href="https://www.wsj.com/business/autos/luminar-rises-in-market-debut-making-25-year-old-founder-a-billionaire-11607027565?mod=article_inline">turned</a>&nbsp;founder Austin Russell into a billionaire at age 25, announced&nbsp;it had <a href="https://investors.luminartech.com/news-events/press-releases/detail/110/luminar-technologies-inc-initiates-voluntary-chapter-11">filed</a>&nbsp;for Chapter 11 bankruptcy protection and plans&nbsp;to sell its lidar business, while separately <a href="https://investors.luminartech.com/news-events/press-releases/detail/111/luminar-announces-sale-of-photonics-business-to-quantum">agreeing</a> to sell its semiconductor unit to Quantum Computing. The filing <a href="https://www.wsj.com/articles/luminar-technologies-files-for-bankruptcy-8144ddf8?siteid=yhoof2">came</a>&nbsp;roughly one month after the company's largest customer, Volvo, reportedly&nbsp;<a href="https://www.sec.gov/Archives/edgar/data/1758057/000175805725000020/lazr-20251114.htm">terminated</a>&nbsp;a purchase agreement.

Lidar-maker Luminar files for bankruptcy one month after losing Volvo supply contract

REV Group, Inc.

Vox Royalty Corp.

Black Diamond Therapeutics, Inc.

Contango Ore, Inc.

Aviat Networks, Inc.

Freedom Broker has named five small caps that investors should watch ahead of a potential "Santa Claus rally" – the <a href="https://get.investors.com/infographics/santa-claus-rally/">calendar effect</a> involving a rise in stock prices during the last five trading days in December and the first two in January.&nbsp;

Freedom Broker offers five small caps ahead of potential Santa Claus rally

Small-cap stocks could outperform both Big Tech shares and the broader S&amp;P 500 index in 2026, according to <a href="https://www.bloomberg.com/news/articles/2025-12-15/riskier-small-caps-seen-outperforming-in-2026-on-growth-outlook?srnd=homepage-europe&amp;sref=Y0jVLcFo">Wall Street analysts cited by Bloomberg</a>. Polar Capital America says small caps are an attractive place to invest after years of being overlooked, while JPMorgan argues markets are approaching what it calls "the best stock-picking era we have seen in our lifetime."

'At the gates of the best stockpicking era': Small caps seen as outperforming in 2026

iRobot Corporation

Shares of robotic vacuum cleaner maker iRobot have&nbsp;<a href="https://finance.yahoo.com/quote/IRBT/">plunged</a>&nbsp;about 83% in early trading on Monday, December 15, after the pioneering company <a href="https://investor.irobot.com/news-releases/news-release-details/irobot-announces-strategic-transaction-drive-long-term-growth">announced</a>&nbsp;it had filed for bankruptcy and agreed to sell the business to its main creditor.

Robot vacuum maker iRobot files for bankruptcy; shares plunge 80%

Planet Labs PBC

Shares of Planet Labs, a mid-cap satellite data provider, rose 35% to a record high on Thursday, December 11, after the company <a href="https://investors.planet.com/news/news-details/2025/Planet-Reports-Financial-Results-for-Third-Quarter-of-Fiscal-Year-2026/default.aspx">reported</a>&nbsp;quarterly results showing record revenue and, for the first time, break-even earnings per share. The stock is already up more than 330% year to date, but the latest earnings, as <i>Barron’s </i>put it, “might send it to Mars.”

Earth imaging co. Planet Labs continues to add to 340% YTD gain amid latest earnings

The Oncology Institute, Inc.

Nutex Health Inc.

Claritev Corporation

Healthcare small caps have gained momentum in 2025. According to a Bloomberg Intelligence report published in November, the top-performing segments of the Russell 2000 in the first quarter of 2025 were utilities first, financials second, and health care third.

These small-cap healthcare names have rocketed YTD

Nextdoor Holdings, Inc.

Opendoor Technologies Inc.

Better Home & Finance Holding Company

Shares of Nextdoor, which operates a hyperlocal social networking service for neighborhoods, have&nbsp;<a href="https://finance.yahoo.com/quote/NXDR/">jumped</a>&nbsp;more than 25% in the first minutes of early trading on Thursday, December 11, extending the previous day’s rally. The surge <a href="https://www.bloomberg.com/news/articles/2025-07-25/the-man-behind-a-tiny-toronto-hedge-fund-that-revived-meme-mania">followed</a>&nbsp;comments from EMJ Capital, the hedge fund behind the revival of "meme mania" – it called the company “one of the most misunderstood platforms in the market,” which has yet to recognize its potential in AI.

Nextdoor surging as meme fund manager calls it 'one of most misunderstood platforms'

Renault SA

The agency expects Renault to weather "weak market conditions in Europe" without significantly deteriorating credit metrics

S&amp;P has returned Renault's investment rating to stable outlook. Whether to buy shares

NIKE, Inc.

The sneaker maker expects sales to decline a few percent in the current quarter

U.S. duties and weak demand in China hit Nike's earnings. Shares plummeted 11%

Micron Technology, Inc.

The main U.S. index S&amp;P 500 returned to growth after four consecutive days of decline due to the fact that the data on inflation was not as bad as the market expected, <a href="https://www.cnbc.com/2025/12/17/stock-market-today-live-updates.html">writes</a> CNBC. This strengthened investors' hopes for further easing of monetary policy by the Federal Reserve in 2026. Micron's report also gave confidence to the technology sector.

The S&amp;P 500 rose for the first time after four days of declines thanks to inflation data and Micron

Trump Media & Technology Group Corp.

Together with TAE Technologies, Trump Media hopes to create "one of the world's first publicly traded fusion companies"

Trump Media will tackle 'futuristic' fusion. Shares soared 40%

Blackstone Inc.

The fintech startup plans to launch in the fast-growing private equity market, the agency said earlier in the day 

Small Caps