NioCorp Developments Ltd Common Stock (NB) had the highest return in March 2023 by a small-cap US stock, returning 706,566.7%.

ASSET	MONTH	% RETURN
NioCorp Developments Ltd Common Stock (NB)	March 2023	706,566.67%
Eos Energy Enterprises (EOSEW)	March 2023	98.9%
Ardelyx (ARDX)	March 2023	64.6%
Arlo Technologies (ARLO)	March 2023	59.47%
ThredUp (TDUP)	March 2023	59.12%
D-MARKET Electronic Services & Trading ADR (HEPS)	March 2023	50.56%
Crawford (CRD.A)	March 2023	49.82%
Arcturus Therapeutics (ARCT)	March 2023	48.7%
American Coastal Insurance (ACIC)	March 2023	48.41%
Aldeyra (ALDX)	March 2023	46.03%
Cipher Mining (CIFR)	March 2023	45.63%
Lifestance Health (LFST)	March 2023	44.83%
Preformed Line Products (PLPC)	March 2023	44.12%
Nyxoah (NYXH)	March 2023	43.65%
New Found Gold (NFGC)	March 2023	42.86%
ECARX Holdings Inc Class A Ordinary shares (ECX)	March 2023	42.09%
Aquestive Therapeutics (AQST)	March 2023	40.86%
Daktronics (DAKT)	March 2023	39.66%
Crawford (CRD.B)	March 2023	38.38%
Amprius Technologies (AMPX)	March 2023	37.38%
Climb Global Solutions (CLMB)	March 2023	36.84%
Alvarium Tiedemann (ALTI)	March 2023	34.98%
Certara (CERT)	March 2023	31.89%
DRDGOLD Limited ADR (DRD)	March 2023	31.73%
Endeavour Silver (EXK)	March 2023	31.53%

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