Novavax (NVAX) had the highest return in May 2024 by a small-cap US stock, returning 249.5%.

ASSET	MONTH	% RETURN
Novavax (NVAX)	May 2024	249.53%
Emergent Biosolutions (EBS)	May 2024	193.81%
Bakkt (BKKT)	May 2024	170.35%
Pet Acquisition LLC (WOOF)	May 2024	157.33%
Innodata (INOD)	May 2024	115.36%
Nano Nuclear Energy Inc Common Stock (NNE)	May 2024	107.5%
Power Solutions International, Inc Common Stock (PSIX)	May 2024	106.57%
AC Immune (ACIU)	May 2024	88.26%
Novocure (NVCR)	May 2024	79.82%
Harrow Health (HROW)	May 2024	75.29%
Hallador Energy (HNRG)	May 2024	74.85%
Exodus Movement (EXOD)	May 2024	74.38%
Blue Bird (BLBD)	May 2024	74.08%
Ameresco (AMRC)	May 2024	74.07%
Teekay (TK)	May 2024	73.3%
Clover Health Investments (CLOV)	May 2024	73.23%
Enovix (ENVX)	May 2024	71.01%
Bioventus (BVS)	May 2024	68.94%
United States Antimony (UAMY)	May 2024	67.44%
ProKidney (PROK)	May 2024	66.51%
DeFi Technologies (DEFT)	May 2024	66.08%
Jumia Technologies (JMIA)	May 2024	64.12%
AMC Networks (AMCX)	May 2024	62.51%
Lotus Technology Inc American Depositary Shares (LOT)	May 2024	61.61%
Consensus Cloud Solutions (CCSI)	May 2024	61.42%

Small-cap stocks are treated as having a market cap between $300M and $2B.