Alpha Technology Group Limited Ordinary Shares (ATGL) had the highest return in November 2023 by a small-cap US stock or small-cap US stock, returning 315.7%.

ASSET	MONTH	% RETURN
Alpha Technology Group Limited Ordinary Shares (ATGL)	November 2023	315.75%
Gyre Therapeutics (GYRE)	November 2023	240.87%
Frequency Therapeutics (KRRO)	November 2023	235.28%
Porch (PRCH)	November 2023	166.67%
Newegg Commerce (NEGG)	November 2023	125%
Quantum-Si (QSIAW)	November 2023	112.56%
Honest (HNST)	November 2023	106.03%
Pulse Biosciences (PLSE)	November 2023	100.22%
Asset Entities Inc Class B Common Stock (ASST)	November 2023	100%
Aveanna Healthcare (AVAH)	November 2023	97.83%
Innoviz Technologies (INVZW)	November 2023	88.68%
Oatly Group AB ADR (OTLY)	November 2023	86.86%
Grupo Supervielle (SUPV)	November 2023	86.85%
Omeros (OMER)	November 2023	84.03%
American Public Education (APEI)	November 2023	80.16%
Amber International (AMBR)	November 2023	78.86%
Applied Opt (AAOI)	November 2023	78.81%
Telos (TLS)	November 2023	78.7%
CareDx (CDNA)	November 2023	75.59%
Axogen (AXGN)	November 2023	74.2%
Sky Harbour (SKYH)	November 2023	70.99%
ASP Isotopes Inc Common Stock (ASPI)	November 2023	69.91%
Wheels Up Experience (UP)	November 2023	69.85%
Udemy (UDMY)	November 2023	66.82%
NAPCO Security Technologies (NSSC)	November 2023	66.74%

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