Highlights in small-caps: Ebola vaccine, SpaceX IPO beneficiaries, newcomers to Russell

Shares of micro-cap biotech - a vaccine developer - rose in price after the Ebola outbreak. Bloomberg has compiled a list of promising space small-caps - ahead of SpaceX's IPO. Bitcoin Depot, the largest cryptocurrency ATM operator in the US, went bankrupt, while US lingerie retailer Victoria's Secret changed its ticker symbol in an attempt to win back customers. The main small-caps news for Ma 18-22 are in our review.

Vaccine developer GeoVax reported that its experimental vaccines could potentially fight various viruses, including a new strain of Ebola. The outbreak has been reported in Congo and Uganda, and the World Health Organization (WHO) declared the situation an emergency on May 17. Now there are no vaccines to prevent the raging strain of the virus, GeoVax noted.

After the company's announcement, its stock rose 11.5% in trading on May 20, and the next day it rose another 20% or so. Now, two Wall Street analysts recommend buying the company's shares and one recommends holding them. The average target price is $15, which is about 4 times their current value.

What else is there to read about it?

- The hantavirus outbreak on the Hondius airliner and the Ebola emergency have brought the topic of epidemics back to the market. Oninvest columnist Roman Kutuzov analyzed what companies can benefit from this in the article "WHO reports on hantavirus and a dangerous Ebola outbreak. Will it trigger a new vaccine race?".

The Bloomberg agency has named 13 aerospace stocks that investors should keep an eye on in anticipation of Elon Musk's SpaceX IPO. The upcoming IPO is spurring an influx of new investors into the sector, so Wall Street is rushing to find the next big winner in space exploration, the agency notes. Among the favorites Bloomberg: satellite data provider Planet Labs, developer of launch vehicles and orbiters Firefly Aerospace, manufacturer of low-cost satellites York Space Systems, developer of lunar rovers Intuitive Machines and others. The full list of companies is in the article by Oninvest correspondent Maria Dranishnikova.

What else is there to read about it?

- On Ma 20, SpaceX published a prospectus for the upcoming IPO. The most important of the document was collected by Julia Kotova , head of news service Oninvest , in the article "Musk's salary, loss of profit and risks on 38 pages: what SpaceX revealed before the IPO".

At the end of June 2026, the first semi-annual rebalancing of the main benchmark for U.S. small-cap companies - Russell indices - will be completed. Analyst Aldiyar Anuarbekov has selected five companies that may get into the index, as well as four likely candidates for elimination.

Potential newcomers include AXT, a maker of substrates for optoelectronics and data centers, Unusual Machines , a maker of components for drones, and FuelCell Energy, one of the pioneers of hydrogen energy. With more than $11 trillion in assets tied to Russell's indexes, any changes in composition trigger significant capital flows from index funds and ETFs.

Bitcoin Depot, North America's largest cryptocurrency ATM operator, has initiated voluntary bankruptcy proceedings. Bitcoin Depot's business model has been undermined by increased regulation of cryptocurrency ATMs in the US and a de facto ban on operations in some states. Earlier, Bitcoin Depot notified the U.S. Securities and Exchange Commission (SEC) that it would not be able to file its first quarter 2026 financial statements on time. In trading on Ma. 18, quotes of Bitcoin Depot collapsed by more than 73%, falling to the level of penny stock.

The company was founded in 2016 and went public in 2023. Its network includes almost 9,000 machines around the world, where customers could exchange cash for bitcoins. In 2025, Bitcoin Depot announced several major deals - including the purchase of 527 crypto ATMs in the US under the National Bitcoin ATM brand. But since the beginning of 2026, Bitcoin Depot has faced a series of problems. First came high-profile lawsuits accusing it of facilitating crypto fraud. Then came the suspension of the company's license in Connecticut and a hacker attack that resulted in the theft of about $3.7 million from customer cryptocurrency wallets.

Victoria's Secret shares will be traded on the NYSE under the new ticker VSXY starting June 2. The company said that the change of ticker symbolizes a new stage of the brand's development and a return to the idea that "sexuality has always been part of Victoria's Secret's DNA".

According to Bloomberg, under the leadership of CEO Hilary Super, the retailer is trying to regain its position in the market, returning to the thesis "sex sells" and betting on the key category of bras and the youth brand Pink. Investors took the news positively: on Ma 21, Victoria's Secret shares rose almost 6%.