Corporate Events Fuel Significant Market Gains Across Biotech, AI, and Leveraged ETFs

Font: Financial Modeling Prep  • Jul 20, 2026

• Zhengye Biotechnology surged over 1047%, regaining Nasdaq compliance after a minimum bid price notice.
• Advanced Biomed Inc. and Axe Compute Inc. saw notable gains following a reverse stock split and Russell Microcap® Index inclusion, respectively.
• Leveraged ETFs tracking IREN Limited experienced significant increases, driven by positive cloud revenue outlook and new customer contracts for the AI and Bitcoin mining firm.

Today's stock market highlights significant gains across several key market sectors. Zhengye Biotechnology Holding Limited (NASDAQ: ZYBT) leads with a surge of over 1047% to $8.01. This follows a Nasdaq notice on May 29, 2026, about its failure to meet the minimum bid price, with the rally helping it regain compliance with stock exchange listing rules.

Advanced Biomed Inc. rose nearly 77% to $8.90 after announcing a 1-for-20 reverse stock split. Meanwhile, Axe Compute Inc. climbed nearly 27% to $8.71 following its addition to the Russell Microcap® Index. Index inclusion often increases demand as tracker funds must buy the stock.

Leveraged ETFs tracking IREN Limited (NASDAQ: IREN) also saw large gains. The Leverage Shares 2x Long IREN Daily ETF (IREG) climbed nearly 40% to $9.23, and the Defiance Daily Target 2X Long IREN ETF (NYSE: IRE) rose over 39% to $11.69. These funds are designed to amplify the daily performance of IREN's stock.

The strong performance of these ETFs is a direct result of positive news from IREN Ltd. The AI and Bitcoin mining infrastructure company raised its long-term cloud revenue outlook. It also announced new customer contracts valued at $2.8 billion, which increased investor confidence.

In summary, today's top market gains were driven by specific corporate events. These include actions to meet exchange rules, inclusion in a stock index, and strong business updates. This shows how company-specific news can directly influence share prices and investor activity.