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Monday Market Movers: AI Apps, Obamacare Extensions, and Drone Investments Drive Stock Gains

MarketDash Editorial Team
14 days ago
U.S. stocks surged Monday with the Dow jumping 250 points as Alibaba's AI assistant hit 10 million downloads, Oscar Health rallied on potential Obamacare subsidy extensions, and a wave of upgrades and strategic investments lifted stocks across tech, healthcare, and energy sectors.

Monday brought a strong rally to U.S. markets, with the Dow Jones climbing around 250 points as investors digested a mix of AI developments, healthcare policy news, and corporate announcements that sent dozens of stocks sharply higher.

Alibaba's AI Assistant Takes Center Stage

Leading the charge was Alibaba Group Holding Ltd (BABA), which saw shares jump 4.7% to $160.16 after announcing impressive adoption numbers for its latest AI product. The company's Qianwen app, an AI assistant that Alibaba describes as a "smart personal assistant that not only chats but gets things done," hit 10 million downloads within just one week of its public beta launch.

The app is currently available only to users in China, but the rapid uptake signals strong consumer interest in AI-powered personal assistants as the technology continues to evolve beyond simple chatbots into tools that can actually execute tasks.

Healthcare Stocks Rally on Policy News

One of the day's biggest winners was Oscar Health Inc (OSCR), which surged 23.3% to $16.62. The health insurance company rallied after Politico reported that the White House will propose a two-year extension of Obamacare subsidies, though the proposal includes new limits on eligibility. For Oscar Health and other insurers focused on the individual marketplace, the potential extension represents continued support for a key revenue stream.

Other healthcare names also posted strong gains. Inspire Medical Systems Inc (INSP) led all gainers with a 28.6% jump to $115.59, while Cullinan Therapeutics Inc (CGEM) climbed 22.1% to $11.56 and Relay Therapeutics Inc (RLAY) added 14.1% to $7.72.

Tech Sector Sees Broad-Based Gains

The technology sector delivered some of Monday's most notable moves, driven by analyst upgrades and corporate developments. Cipher Mining Inc (CIFR) rose 17% to $16.56 after JP Morgan upgraded the cryptocurrency mining stock from Neutral to Overweight and raised its price target from $12 to $18.

Lumentum Holdings Inc (LITE) jumped 13.2% to $289.38 following a price target increase from Needham, which raised its target from $235 to $290 while maintaining a Buy rating on the optical and photonic products maker.

Credo Technology Group Holding Ltd (CRDO) gained 11.5% to $148.84 after reaching a license agreement with Siemon regarding the company's patents covering its active electrical cable technology. Meanwhile, SanDisk Corp (SNDK) rose 12.4% to $225.14, and Micron Technology Inc (MU) climbed 6.9% to $221.70 as semiconductor stocks participated in the broader tech rally.

Strategic Investments and Operational Updates

Ondas Holdings Inc (ONDS) surged 20.2% to $8.10 after announcing a $35 million strategic investment in performance drone works, signaling the company's commitment to expanding its presence in the unmanned systems market.

Applied Digital Corp (APLD) jumped 9.2% to $23.03 following news that the company successfully completed the second phase at the first 100 megawatt building at Building 1 of its Polaris Forge 1 AI Factory Campus in Ellendale, North Dakota. The on-time Ready for Service milestone demonstrates the company's ability to execute on its ambitious data center expansion plans.

BigBear.ai Holdings Inc (BBAI) gained 12.7% to $6.08 as investors responded positively to a series of recent upbeat developments for the artificial intelligence defense contractor, though the company didn't announce specific news Monday.

Analyst Coverage Drives Biotech Movement

Belite Bio Inc (BLTE) gained 13% to $136.30 after Cantor Fitzgerald analyst Steve Seedhouse initiated coverage on the biotech with an Overweight rating and a price target of $154, suggesting further upside potential for the stock.

Butterfly Network Inc (BFLY) shares jumped 15.6% to $3.06, while Aduro Clean Technologies Inc (ADUR) climbed 18.2% to $12.88, both moving without specific company catalysts.

Energy, Industrial, and Autonomous Vehicle Names Rise

Energy and industrial stocks also participated in Monday's rally. T1 Energy Inc (TE) gained 18% to $3.21, while Argan Inc (AGX) rose 8.2% to $364.00 ahead of its third quarter results announcement scheduled for Thursday, December 4.

In the autonomous vehicle space, WeRide Inc (WRD) gained 10.8% to $7.98 after reporting a year-over-year increase in third-quarter financial results. Hesai Group (HSAI), a maker of lidar sensors for autonomous vehicles, climbed 17.3% to $18.10.

Infrastructure and Real Estate Plays

Data center and crypto mining infrastructure stocks saw strong demand. IREN Ltd (IREN) gained 9.6% to $46.32, joining other digital infrastructure names in the rally.

Opendoor Technologies Inc (OPEN) jumped 9.9% to $7.42 as the real estate technology platform continued to attract investor interest despite a challenging housing market.

Additional Notable Gainers

Exzeo Group (XZO) shares jumped 17.7% to $17.19, while Celestica Inc (CLS) rose 9.6% to $307.00, showing strength in manufacturing and electronic services.

And of course, Tesla Inc (TSLA) gained 6% to $414.70, with the electric vehicle maker reportedly eyeing approval for its Full Self-Driving feature in Europe by February 2026. The potential European expansion of FSD would mark a significant milestone for Tesla's autonomous driving ambitions in a major market.

Monday's broad-based rally reflected investor optimism across multiple sectors, from AI and healthcare to crypto mining and autonomous vehicles, suggesting risk appetite remains strong as the year winds down.

Back to News

Monday Market Movers: AI Apps, Obamacare Extensions, and Drone Investments Drive Stock Gains

MarketDash Editorial Team
14 days ago
U.S. stocks surged Monday with the Dow jumping 250 points as Alibaba's AI assistant hit 10 million downloads, Oscar Health rallied on potential Obamacare subsidy extensions, and a wave of upgrades and strategic investments lifted stocks across tech, healthcare, and energy sectors.

Monday brought a strong rally to U.S. markets, with the Dow Jones climbing around 250 points as investors digested a mix of AI developments, healthcare policy news, and corporate announcements that sent dozens of stocks sharply higher.

Alibaba's AI Assistant Takes Center Stage

Leading the charge was Alibaba Group Holding Ltd (BABA), which saw shares jump 4.7% to $160.16 after announcing impressive adoption numbers for its latest AI product. The company's Qianwen app, an AI assistant that Alibaba describes as a "smart personal assistant that not only chats but gets things done," hit 10 million downloads within just one week of its public beta launch.

The app is currently available only to users in China, but the rapid uptake signals strong consumer interest in AI-powered personal assistants as the technology continues to evolve beyond simple chatbots into tools that can actually execute tasks.

Healthcare Stocks Rally on Policy News

One of the day's biggest winners was Oscar Health Inc (OSCR), which surged 23.3% to $16.62. The health insurance company rallied after Politico reported that the White House will propose a two-year extension of Obamacare subsidies, though the proposal includes new limits on eligibility. For Oscar Health and other insurers focused on the individual marketplace, the potential extension represents continued support for a key revenue stream.

Other healthcare names also posted strong gains. Inspire Medical Systems Inc (INSP) led all gainers with a 28.6% jump to $115.59, while Cullinan Therapeutics Inc (CGEM) climbed 22.1% to $11.56 and Relay Therapeutics Inc (RLAY) added 14.1% to $7.72.

Tech Sector Sees Broad-Based Gains

The technology sector delivered some of Monday's most notable moves, driven by analyst upgrades and corporate developments. Cipher Mining Inc (CIFR) rose 17% to $16.56 after JP Morgan upgraded the cryptocurrency mining stock from Neutral to Overweight and raised its price target from $12 to $18.

Lumentum Holdings Inc (LITE) jumped 13.2% to $289.38 following a price target increase from Needham, which raised its target from $235 to $290 while maintaining a Buy rating on the optical and photonic products maker.

Credo Technology Group Holding Ltd (CRDO) gained 11.5% to $148.84 after reaching a license agreement with Siemon regarding the company's patents covering its active electrical cable technology. Meanwhile, SanDisk Corp (SNDK) rose 12.4% to $225.14, and Micron Technology Inc (MU) climbed 6.9% to $221.70 as semiconductor stocks participated in the broader tech rally.

Strategic Investments and Operational Updates

Ondas Holdings Inc (ONDS) surged 20.2% to $8.10 after announcing a $35 million strategic investment in performance drone works, signaling the company's commitment to expanding its presence in the unmanned systems market.

Applied Digital Corp (APLD) jumped 9.2% to $23.03 following news that the company successfully completed the second phase at the first 100 megawatt building at Building 1 of its Polaris Forge 1 AI Factory Campus in Ellendale, North Dakota. The on-time Ready for Service milestone demonstrates the company's ability to execute on its ambitious data center expansion plans.

BigBear.ai Holdings Inc (BBAI) gained 12.7% to $6.08 as investors responded positively to a series of recent upbeat developments for the artificial intelligence defense contractor, though the company didn't announce specific news Monday.

Analyst Coverage Drives Biotech Movement

Belite Bio Inc (BLTE) gained 13% to $136.30 after Cantor Fitzgerald analyst Steve Seedhouse initiated coverage on the biotech with an Overweight rating and a price target of $154, suggesting further upside potential for the stock.

Butterfly Network Inc (BFLY) shares jumped 15.6% to $3.06, while Aduro Clean Technologies Inc (ADUR) climbed 18.2% to $12.88, both moving without specific company catalysts.

Energy, Industrial, and Autonomous Vehicle Names Rise

Energy and industrial stocks also participated in Monday's rally. T1 Energy Inc (TE) gained 18% to $3.21, while Argan Inc (AGX) rose 8.2% to $364.00 ahead of its third quarter results announcement scheduled for Thursday, December 4.

In the autonomous vehicle space, WeRide Inc (WRD) gained 10.8% to $7.98 after reporting a year-over-year increase in third-quarter financial results. Hesai Group (HSAI), a maker of lidar sensors for autonomous vehicles, climbed 17.3% to $18.10.

Infrastructure and Real Estate Plays

Data center and crypto mining infrastructure stocks saw strong demand. IREN Ltd (IREN) gained 9.6% to $46.32, joining other digital infrastructure names in the rally.

Opendoor Technologies Inc (OPEN) jumped 9.9% to $7.42 as the real estate technology platform continued to attract investor interest despite a challenging housing market.

Additional Notable Gainers

Exzeo Group (XZO) shares jumped 17.7% to $17.19, while Celestica Inc (CLS) rose 9.6% to $307.00, showing strength in manufacturing and electronic services.

And of course, Tesla Inc (TSLA) gained 6% to $414.70, with the electric vehicle maker reportedly eyeing approval for its Full Self-Driving feature in Europe by February 2026. The potential European expansion of FSD would mark a significant milestone for Tesla's autonomous driving ambitions in a major market.

Monday's broad-based rally reflected investor optimism across multiple sectors, from AI and healthcare to crypto mining and autonomous vehicles, suggesting risk appetite remains strong as the year winds down.