Novavax (NVAX) had the highest return in May 2024 by a small-cap US stock or 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%
Arko (ARKOW)	May 2024	154.7%
TSS, Inc Common Stock (TSSI)	May 2024	152.11%
Barnes & Noble Education (BNED)	May 2024	114.29%
Selectquote (SLQT)	May 2024	103.92%
Aspen Aerogels (ASPN)	May 2024	91.06%
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%
Blue Bird (BLBD)	May 2024	74.08%
Teekay (TK)	May 2024	73.3%
Clover Health Investments (CLOV)	May 2024	73.23%
ZIM Integrated Shipping Services (ZIM)	May 2024	68.97%
Bioventus (BVS)	May 2024	68.94%
United States Antimony (UAMY)	May 2024	67.44%
ProKidney (PROK)	May 2024	66.51%
Clene (CLNNW)	May 2024	65.14%
CuriosityStream (CURIW)	May 2024	64.91%
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%

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