The first half of 2025 has been a real seesaw for investors in small-cap stocks: ETFs investing in European and Asian small-cap stocks soared, while their U.S. counterparts often balanced near zero or went negative;

Rally outside the U.S.: small-cap ETF leaders and outsiders in the first half of 2025

ProKidney Corp.

The capitalization of biotech ProKidney, which treats kidney failure in diabetic patients, rose sixfold to $1.8 billion in a single day. The company touted the successful results of a trial of its drug, but analysts are cautious.&nbsp;

Shares of pharma company ProKidney soared 500% after the trial. Is it worth buying them?

A gauge of investor sentiment from Bloomberg Intelligence “approached manic” in June. This could portend a relative downturn in the small-cap space, however.

Why small-cap investors should be wary of 'manic' sentiment in markets

In recent years, South and Southeast Asia have attracted investors as a trove of new ideas and high-growth companies, with economies across the region undergoing rapid expansion and transformation. While investor attention often remains focused on large corporations, smaller firms in Asia are also delivering impressive growth and innovation, frequently achieving success within their respective niches. The MSCI Asia Apex Small Cap 200 index, which tracks the performance of the 200 largest and most liquid small caps in the broader MSCI AC Asia ex Japan Small Cap index, has soared 79.8% over the past three years and is up nearly 14.0% year to date. By comparison, the MSCI AC Asia Pacific index has risen 11.8% and 13.6% over the same periods, respectively.

Three small caps that reflect different aspects of Asia's growth and transformation

Beam Global

Beam Global CEO Desmond Wheatley brings more than three decades of executive experience to the table, having built and led companies ranging from startups to publicly traded firms generating $70 million in annual revenue, according to his LinkedIn <a href="https://www.linkedin.com/in/desmondwheatley/">profile</a>. “For a long time, I worked for companies that were polluting the environment. I spent a lot of time in the Middle East, working for people whose values I don't support now,” he said in an interview with Oninvest.

Head of clean tech innovator Beam Global tells Oninvest about plans and Trump effect


Hims & Hers Health, Inc.

Freedom Broker now recommends clients buy shares of Hims &amp; Hers Health, a telehealth company, in the wake of a recent dip. The mid-cap stock has lost 35% of its market value due to a canceled partnership with pharma giant Novo Nordisk, which alleges that Hims&nbsp;&amp; Hers put patient safety at risk through “deceptive” marketing and sold a knockoff version of its drug Wegovy. Despite this, Freedom Broker analysts think Hims &amp; Hers stock will bounce back quickly.&nbsp;

Freedom Broker says buy Hims & Hers after cancellation of tie-up with Novo Nordisk

QuantumScape Corporation

QuantumScape, a mid-cap maker of solid-state rechargeable lithium metal batteries for EVs, has been soaring of late, but&nbsp;Baird Equity Research&nbsp;<a href="https://www.marketwatch.com/story/quantumscapes-stock-is-still-on-a-tear-but-buyer-beware-analyst-says-36ea9613?mod=newsviewer_click">sees</a>&nbsp;a number of risks for investors. The stock&nbsp;<a href="https://finance.yahoo.com/quote/QS/">added</a>&nbsp;78% in the last two days thanks to the&nbsp;the <a href="https://finance.yahoo.com/news/quantumscape-achieves-major-milestone-cobra-203000396.html">announcement</a>&nbsp;of a new manufacturing process for a key battery component.&nbsp;But Baird analyst Ben Kallo said in a note he wants "additional details on the go-to-market strategy before becoming more constructive." Currently, Kallo's target price implies downside for the stock.

EV battery maker QuantumScape rockets 80% in last two days; Baird flags risks 

Auna S.A.

Latin America is seeing growing demand for private healthcare services amid chronic undercapacity in the public system. While in OECD countries (comprising over 35 developed economies, like the U.S., Canada and Germany) public and mandatory insurance schemes <a href="https://privatebank.jpmorgan.com/latam/en/insights/markets-and-investing/ideas-and-insights/healthy-growth-for-latin-america-tapping-the-regions-healthcare-sector-for-economic-gains#:~:text=pandemic%252C%2520compared%2520with%2520just%252019,tiered%2520system">cover</a>&nbsp;74% of total health expenditure, in Latin America the figure stands at just 57%. The remaining burden falls on private insurance and out-of-pocket payments, supporting the expansion of private medical providers and insurers. At the same time, several countries in the region <a href="https://privatebank.jpmorgan.com/latam/en/insights/markets-and-investing/ideas-and-insights/healthy-growth-for-latin-america-tapping-the-regions-healthcare-sector-for-economic-gains#:~:text=bottom%2520of%2520the%2520chart%252C%2520Argentina,281">face shortages</a> of physicians and medical services, a further driver of growth for private clinics.

Auna: The Peruvian small cap developing private health care in Latin America



Core Scientific Inc New

CoreWeave, Inc. Class A Common Stock

Quotes on Core Scientific, an owner and operator of high-powered digital infrastructure for bitcoin mining and hosting services with a market capitalization of less than $5 billion, soared more than 30% yesterday, June 26. As the&nbsp;<i>Wall Street Journal</i>&nbsp;reports, the company is in talks to be acquired by CoreWeave, which provides cloud infrastructure for AI capabilities. A year ago, the same deal through. At least one Wall Street analyst is skeptical that the acquisition now makes sense for CoreWeave, however.&nbsp;

Core Scientific jumps by a third on reports of talks to be acquired by CoreWeave

Fortive Corporation

Precision instrument maker Ralliant will <a href="https://press.spglobal.com/2025-06-25-Ralliant-Set-to-Join-S-P-SmallCap-600">join</a> the S&amp;P SmallCap 600 starting Tuesday, July 1. This will <a href="https://www.cnbc.com/quotes/RAL'WI">take place</a> a day after Fortive, an industrial technology conglomerate, <a href="https://investors.fortive.com/news-events/press-releases/detail/261/fortive-reports-first-quarter-2025-results#:~:text=4%20%D1%81%D0%B5%D0%BD%D1%82%D1%8F%D0%B1%D1%80%D1%8F%202024%20%D0%B3%D0%BE%D0%B4%D0%B0%20Fortive%20%D0%BE%D0%B1%D1%8A%D1%8F%D0%B2%D0%B8%D0%BB%D0%B0%20%D0%BE%20%D0%BD%D0%B0%D0%BC%D0%B5%D1%80%D0%B5%D0%BD%D0%B8%D0%B8%20%D0%B2%D1%8B%D0%B4%D0%B5%D0%BB%D0%B8%D1%82%D1%8C%20%D1%81%D0%B2%D0%BE%D0%B9%20%D0%B1%D0%B8%D0%B7%D0%BD%D0%B5%D1%81%20Precision%20Technologies%20%D0%B2%20%D0%BD%D0%B5%D0%B7%D0%B0%D0%B2%D0%B8%D1%81%D0%B8%D0%BC%D1%83%D1%8E%20%D0%BF%D1%83%D0%B1%D0%BB%D0%B8%D1%87%D0%BD%D1%83%D1%8E%20%D0%BA%D0%BE%D0%BC%D0%BF%D0%B0%D0%BD%D0%B8%D1%8E%20(%C2%AB%D0%92%D1%8B%D0%B4%D0%B5%D0%BB%D0%B5%D0%BD%D0%B8%D0%B5%C2%BB)%2C%20%D0%BA%D0%BE%D1%82%D0%BE%D1%80%D0%B0%D1%8F%20%D0%B1%D1%83%D0%B4%D0%B5%D1%82%20%D0%BD%D0%B0%D0%B7%D1%8B%D0%B2%D0%B0%D1%82%D1%8C%D1%81%D1%8F%20Ralliant.">spins off</a> Ralliant. Freedom Capital Markets Research <a href="https://oninvest.com/article/utro-v-n-u-jorke-v-fokuse-investorov-dannye-po-bezrabotice-i-torgovaa-povestka">thinks</a>&nbsp;index inclusion will bring passive capital inflows to the stock and give a boost to the share price.&nbsp;

Precision instrument maker Ralliant to be officially spun off, join S&P 600 next week

BlackSky Technology Inc. WT

Redwire Corporation

Voyager Technologies, Inc.

Motley Fool analyst George Budwell has&nbsp;<a href="https://www.fool.com/investing/2025/06/25/7-space-stocks-id-buy-without-hesitation/">put together a list</a>&nbsp;of seven space stocks he would buy "without hesitation." Four of them are in the small-cap segment, while three are big companies. "While everyone fixates on SpaceX's latest launch or dreams of Mars colonies," Budwell argues, "the real money is being made in less glamorous corners of the space economy."

Motley Fool names seven 'unglamorous' stocks that could benefit from space boom

Venu Holding Corporation

The U.S. live music industry is setting new records: Since the pandemic, concert ticket prices have <a href="https://naeye.net/21226/entertainment/the-rise-of-concert-prices-and-dynamic-pricing/">surged</a>&nbsp;42%. Fans are now paying hundreds or even thousands of dollars for the chance to see their favorite performers live. Yet despite the booming demand, much of the country’s concert infrastructure remains outdated, with many venues not having been updated in years.

Head of Venu sits down with Freedom Finance Global to talk live entertainment 

Ocugen, Inc.

Carisma Therapeutics, Inc.

Gene and cell therapy biotech Ocugen has <a href="https://finance.yahoo.com/news/carisma-therapeutics-orthocellix-enter-definitive-113000554.html">agreed</a> to a merger with Carisma Therapeutics, a tiny <a href="https://carismatx.com/">developer</a> of novel therapies for fibrosis and cancer. Ocugen will transfer its regenerative medicine division and in return will get 90% of the new company. Noble Capital Markets&nbsp;<a href="https://www.channelchek.com/news-channel/ocugen-ocgn-merger-agreement-moves-neocart-into-a-new-company">sees</a>&nbsp;more than 670% upside for Ocugen.&nbsp;

Biotech Ocugen to spin off regenerative medicine division; Noble confirms 670% upside

Lyft, Inc.

A TD Cowen analyst has&nbsp;<a href="https://www.cnbc.com/2025/06/24/td-cowen-upgrades-this-ride-sharing-stock-calls-it-best-smidcap-idea-of-2025.html">named</a> ride-sharing service Lyft his best mid- and small-cap idea for 2025. He just upgraded his&nbsp;rating to "buy" from "hold" and upped his target price, for upside of a third to the current market price. Among the reasons cited for the upgrade are Lyft's "customer obsession" and&nbsp;underappreciated  autonomous vehicle rollout.

TD Cowen names ride-sharing service Lyft 'best smidcap idea', upgrades TP and rating

GoHealth, Inc.

Riley Exploration Permian, Inc.

Achieve Life Sciences, Inc.

Perfect Corp.

"The Summer of Small?" was the title of an early-June&nbsp;<a href="https://www.cnbc.com/2025/06/09/small-caps-are-breaking-out-just-in-time-for-a-summer-rally-market-watchers-say.html">note</a> by the chief technical strategist at Roth, J.C. O'Hara.

As 'summer of small' plays out, Freedom picks five small caps with big upside

Microsoft Corporation

Investor focus on Microsoft's AI revenue growth will only intensify, analyst says

Oppenheimer expects Microsoft stock to rise 20%. Why does he think they are undervalued?

Newmont Corporation

Barrick Gold Corporation

Hecla Mining Company

One of the analysts' recommendations is to keep at least half of the portfolio allocated to precious metals in gold

Investors are looking for "new gold" and buying other precious metals. How to build a portfolio?

Apple Inc.

He was seen as a potential successor to Tim Cook and played a key role in the Apple Watch project


A key Apple executive leaves at a difficult moment. Should investors be worried?


NVIDIA Corporation

Since April, the chipmaker's stock is up more than 70%

"Historic moment": Nvidia is the first in the world to reach a $4 trillion market value


Mercedes-Benz Group AG

Volkswagen AG

Bayerische Motoren Werke AG

Berlin is pushing a scheme that Brussels calls "delusional"

The EU and the US are close to an agreement on incentives for the auto industry. Which companies will benefit?

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