When bank mergers get announced, someone's shareholders usually aren't thrilled. On Tuesday, that dubious honor went to OceanFirst Financial Corp. (OCFC), whose shares dropped sharply during the trading session after the company unveiled plans to acquire Flushing in an all-stock deal valued at $579 million.
Shares of OceanFirst Financial fell 7.4% to $18.15 on Tuesday, a classic reaction when investors digest the dilution math and integration risks that come with bank acquisitions. The market wasn't exactly throwing confetti for this merger announcement.
But OceanFirst wasn't alone in making big moves. Tuesday's mid-day session delivered a fascinating mix of stocks experiencing dramatic price swings, with some companies more than doubling in value while others shed significant portions of their market cap.
The Winners Circle
At the top of the gainers list, Profusa, Inc. (PFSA) absolutely exploded higher, jumping 112% to $0.1445. The catalyst? The company restructured its senior secured convertible note. When you're trading at fourteen cents, restructuring debt can be the difference between survival and irrelevance, and investors clearly viewed this as a positive step.
Antelope Enterprise Holdings Limited (AEHL) wasn't far behind, surging 99% to $2.25, essentially doubling in a single session. No specific catalyst was disclosed, which makes the move all the more intriguing for anyone trying to figure out what drove that kind of enthusiasm.
Oriental Culture Holding LTD (OCG) gained 68% to $0.1395, while Ekso Bionics Holdings, Inc. (EKSO) rose 54.3% to $8.43. These are the kind of percentage moves that remind you small-cap stocks can deliver massive single-day returns, though usually with corresponding volatility.
Cemtrex, Inc. (CETX) climbed 52% to $3.2118 in a particularly interesting development. Investors were apparently so excited about the firm's return to profitability that they completely shrugged off a going-concern warning that had dragged down shares earlier in the day. It's not every day you see a going-concern warning followed by a 52% rally, but here we are.
Zhongchao Inc. (ZCMD) gained 38% to $0.6255, showing continued strength in the session.
Acquisition news drove ON24, Inc. (ONTF) up 36.6% to $8.00 after the company announced it will be acquired by Cvent. When you're getting bought out, that tends to provide a pretty clear floor for your stock price.
Fly-E Group, Inc. (FLYE) gained 35.6% to $7.21, adding to the list of substantial movers.
Patent approval news powered Autonomix Medical, Inc. (AMIX) up 34% to $0.7175 after the European Patent Office granted the company Patent No. EP4230133, titled "Controlled and Precise Treatment of Cardiac Tissues." Intellectual property wins matter, especially when you're trying to build a moat around medical technology.
FONAR Corporation (FONR) jumped 28.4% to $18.84 after the company confirmed its take-private deal. Going private deals typically come at a premium to current trading prices, which explains the enthusiasm.
Insider buying made headlines for Dermata Therapeutics, Inc. (DRMA), which gained 27% to $2.3650. Chairman Gerald Proehl reportedly purchased 612,745 shares at an average price of $2.04 per share. When the chairman buys over 600,000 shares with his own money, investors tend to notice.
Ascent Solar Technologies, Inc. (ASTI) rose 23% to $4.8506, while GRI Bio, Inc. (GRI) gained 19.2% to $0.2957.
PicoCELA Inc. (PCLA) rose 17.3% to $0.3638 in the session.
AXT, Inc. (AXTI) shares jumped 13.5% to $16.56. The company recently announced it priced its $87 million public offering of 7,098,492 shares at $12.25 per share. When your stock trades significantly above your offering price shortly after the deal, that's usually a sign of strong demand.
Ultragenyx Pharmaceutical Inc. (RARE) gained 13.6% to $22.40, bouncing back after getting absolutely crushed the day before. Ultragenyx shares had plunged 42% on Monday after the company and partner Mereo BioPharma Group plc (MREO) disclosed disappointing late-stage data for their rare bone disease program. Tuesday's bounce was a modest recovery from that brutal selloff.
Analyst upgrades drove Greenwich LifeSciences, Inc. (GLSI) shares up 13.6% to $28.25. HC Wainwright & Co. analyst Yi Chen maintained Greenwich LifeSciences with a Buy and raised the price target from $39 to $50, providing a nice vote of confidence.
SELLAS Life Sciences Group, Inc. (SLS) rose 12% to $3.7537. The company shared a new update on its Phase 3 REGAL trial, which is testing GPS as a potential maintenance therapy for patients with acute myeloid leukemia who have achieved a second complete remission. Clinical trial updates can move biotech stocks substantially, and this was no exception.
Fermi Inc. (FRMI) rose 8.5% to $8.16, while CapsoVision, Inc. (CV) rose 8.4% to $12.55. The company submitted its 510(k) application to the FDA for its proprietary AI-assisted module for CapsoCam Plus. FDA submissions represent important regulatory milestones that investors track closely.
Redwire Corporation (RDW) gained 8.3% to $7.61, and Intuitive Machines, Inc. (LUNR) shares rose 7% to $16.75.
ACM Research, Inc. (ACMR) gained 6.2% to $42.44. The company will release its full-year 2025 preliminary revenue range and initial 2026 revenue outlook on January 22, 2026, giving investors something to look forward to.
The Losers
On the other side of the ledger, SMX (Security Matters) Public Limited Company (SMX) shares dipped 30% to $59.62 after already declining 27% on Monday. When you drop by more than half in two days, something has clearly gone wrong.
Globavend Holdings Limited (GVH) fell 25.3% to $2.6600, while Eastern International Ltd. (ELOG) dipped 24.2% to $0.9401.
X3 Holdings Co., Ltd. (XTKG) fell 24.2% to $0.3885, matching the percentage decline of Eastern International.
New Era Energy & Digital, Inc. (NUAI) fell 23% to $2.07 after the company issued a firm response to a New Mexico lawsuit. Legal battles rarely do much for stock prices in the short term.
WORK Medical Technology Group LTD (WOK) dipped 21.9% to $2.6601, while CCSC Technology International Holdings Limited (CCTG) declined 21% to $0.1381.
TryHard Holdings Limited (THH) dipped 13.5% to $19.38 in Tuesday's session.
Remember that Flushing acquisition by OceanFirst that started this whole discussion? Well, Flushing Financial Corporation (FFIC) fell 9.5% to $15.28. The merger agreement also includes a $225 million strategic investment from Warburg Pincus, adding another layer to the transaction. When you're the acquisition target, the market has a pretty good sense of what you're worth, and apparently this price wasn't exciting enough to drive Flushing shares higher.
Dingdong (Cayman) Limited (DDL) fell 7% to $2.4950, while ADS-TEC Energy PLC (ADSE) declined 6.5% to $11.89, rounding out the list of notable decliners.
Tuesday's mid-day trading session served as a reminder that individual stocks can move dramatically on company-specific news while the broader market does its own thing. From triple-digit percentage gains to substantial declines, the session had something for everyone watching the ticker.
