Gray Television (GTN.A) had the highest return on May 20 by a small-cap US stock, returning 23.1%.

ASSET	DATE	% RETURN
Gray Television (GTN.A)	5/20/2026	23.09%
Eightco (ORBS)	5/20/2026	21.62%
T1 Energy (TE)	5/20/2026	20%
Xanadu Quantum Technologies Limited Class B Subordinate Voting Shares (XNDU)	5/20/2026	18.74%
Claritev (CTEV)	5/20/2026	17.54%
RoboStrategy, Inc Common Stock (BOT)	5/20/2026	17.13%
Cypherpunk Technologies (CYPH)	5/20/2026	16.51%
FuelCell Energy (FCEL)	5/20/2026	16.47%
Monopar Therapeutics (MNPR)	5/20/2026	16.44%
MMTEC (MTC)	5/20/2026	15.99%
Kura Oncology (KURA)	5/20/2026	15.14%
Enovix (ENVX)	5/20/2026	14.18%
HIVE Digital Technologies (HIVE)	5/20/2026	14.16%
Ballard Power Systems (BLDP)	5/20/2026	13.06%
SBC Medical (SBC)	5/20/2026	12.94%
Savers Value Village (SVV)	5/20/2026	12.22%
Anteris Technologies Global Corp Common Stock (AVR)	5/20/2026	11.23%
Grid Dynamics (GDYN)	5/20/2026	10.9%
Hamilton Beach Brands Holding Co Class A (HBB)	5/20/2026	10.57%
Frontier (ULCC)	5/20/2026	10.35%
Personalis (PSNL)	5/20/2026	10.26%
Burford Capital (BUR)	5/20/2026	9.88%
Allegiant Travel (ALGT)	5/20/2026	9.81%
Procept Biorobotics (PRCT)	5/20/2026	9.42%
Richardson Electronics (RELL)	5/20/2026	9.35%

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