Monday delivered one of the more chaotic single-session tapes of the month, even though the headline indexes barely moved on a relative basis. The Dow fell 346.90 points (−0.67%) to 51,481, the S&P 500 dropped 0.77% to 7,683, and the Nasdaq slid 0.92% to 26,820, as President Trump’s rejection of an Iranian peace proposal sent Brent crude back toward $110 a barrel and pushed the 10-year Treasury yield to 5.23% — a fresh multi-year high we first flagged when mortgage rates cracked 7% earlier this month.

Underneath that surface-level move, individual stocks were doing anything but standing still: a biotech nearly tripled on a single data readout, Meta poached a sitting CEO right out from under his own company, and tungsten — the same critical mineral behind The Elmet Group’s blockbuster Pentagon deal — was back in the headlines. With just two trading days left in Q3, here are the 10 stocks to watch tomorrow.

1. Kodiak Sciences (KOD) | Closed at $90.48, Up 179.68% | Biotech’s Loudest Trading Day of the Year

A Single Data Readout Just Erased Months of Sideways Trading

Kodiak Sciences delivered the single most dramatic move on all of Wall Street Monday, and it wasn’t close.

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Why It Exploded: Kodiak announced that its Phase 3 DAYBREAK study met its primary endpoint for Zenkuda (tarcocimab tedromer) in wet age-related macular degeneration, with a p-value of 0.0007 and meaningful vision gains alongside low adverse-event rates on extended six-month dosing. UBS had already flagged September topline data as a key catalyst heading into the readout and reiterated its Buy rating with an $80 target, while Goldman Sachs simultaneously resumed coverage at Neutral with a more conservative $36 target — a notable split between two major banks on the same day.

Technicals: The stock spent weeks chopping between roughly $31 and $36 before Monday’s vertical breakout on volume many multiples above normal — textbook “event run-up” price action, according to trading desks tracking the name. Support sits at $61.00, Monday’s opening gap level; a fall back below that would suggest the move was purely a short squeeze rather than a durable re-rating. Resistance sits at Monday’s $95.69 intraday high, with the $100 level as the next psychological target.

Bull Case: A clean, statistically significant primary endpoint hit with extended dosing intervals directly challenges Regeneron’s Eylea franchise, and Kodiak still has an AAO conference presentation in October and additional Phase 3 data due in December — a genuinely event-heavy calendar that could sustain momentum.

Bear Case: Goldman’s far more conservative $36 target — less than half Monday’s closing price — signals real disagreement on Wall Street about how much of this move is already priced in, and biotech stocks that triple in a single session are prone to sharp give-backs once the initial momentum fades.

Forecast: Watch whether KOD can hold above $61 through the rest of the week — a stock that gives back the majority of a move like this within days is telling you the rally was mechanical (short covering) rather than a genuine re-rating of the underlying science.

Kodiak Sciences Stock Forecast Tomorrow: Can KOD Hold Its 172% Weekly Explosion After DAYBREAK Shocked Wall Street?

2. Ocular Therapeutix (OCUL) | Closed at $7.50, Down 22.3% | Collateral Damage From a Rival’s Win

When Someone Else’s Good News Is Your Bad News

Ocular Therapeutix’s Monday was a direct, almost mechanical consequence of the Kodiak news above — a reminder of how tightly linked competitor stocks can be within the same disease category.

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Why It Tanked: OCUL fell as investors reacted to Kodiak’s DAYBREAK data along with an update from Fedimmune (FDMT), both targeting the same wet AMD market that Ocular’s own lead candidate, AXPAXLI, is racing to enter. The read-through concern is durability: rivals are now demonstrating dosing intervals investors worry AXPAXLI may struggle to match, even though Ocular’s own program remains distinct in its dissolving hydrogel delivery mechanism.

Technicals: This marks OCUL’s sharpest single-day decline since February, on volume actually below the stock’s recent average — suggesting the sell-off is sentiment-driven repositioning rather than panicked capitulation. Support sits at $7.40–$7.50, today’s range. Resistance sits at $8.94, a level from earlier this month.

Bull Case: Analyst sentiment hasn’t broken: HC Wainwright and Chardan Capital both reiterated Buy ratings with $23–$25 targets just last week, and the average $25.75 target implies more than triple Monday’s closing price if the Street’s underlying thesis holds.

Bear Case: A 22% single-day drop on competitive concerns — even without OCUL’s own trial reading out — shows how exposed the stock is to rivals’ headlines, and DEXTENZA’s uneven commercial performance amid reimbursement pressure remains a separate, unresolved drag on the business.

Forecast: OCUL’s own SOL-1 and SOL-R Phase 3 data remain the real catalyst to watch — Monday’s move was about other companies’ news, and the stock’s fate ultimately depends on its own trial results, not Kodiak’s or Fedimmune’s.

3. MongoDB (MDB) | Closed at ~$334.68, Down 18.5% | Meta Just Poached Its CEO

A One-Year CEO Tenure Ends With a Move to the Competition (Sort Of)

MongoDB delivered the week’s most talked-about corporate governance shock, and the timing — right before the company’s own Investor Day — made it worse.

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Why It Tanked: CEO Chirantan “CJ” Desai resigned effective immediately to become Meta’s new Chief Enterprise Platform Officer, just over a year into his tenure and days ahead of MongoDB’s scheduled Investor Day in New York. The board immediately named founder-era CEO Dev Ittycheria — who ran the company from 2014 to 2025, growing annual revenue from roughly $35 million to more than $2.3 billion — as interim President and CEO while a formal search begins. MongoDB reaffirmed its Q3 and full-year guidance in the same announcement, an explicit attempt to signal the core business remains intact.

Technicals: This is MDB’s worst single-day decline in more than six months, on volume roughly 4x the stock’s daily average. Support sits at $323.49, Monday’s intraday low. Resistance sits at $378.50, where shares traded before the news broke.

Bull Case: A $2.4 billion cash position with minimal debt, continued Atlas enterprise consumption growth, and a proven, familiar interim CEO all argue the market may be over-discounting what could prove a temporary disruption — Wall Street’s own average target near $470 implies the sell-off has priced in a meaningfully worse outcome than consensus expects.

Bear Case: Desai played a central role personally securing several major enterprise commitments, according to DA Davidson, and Meta’s aggressive poaching of enterprise-infrastructure talent for its own AI platform ambitions raises the uncomfortable question of whether more MongoDB executives or key customers could follow.

Forecast: All eyes shift to the now-looming Investor Day — any additional executive departures or customer-commentary wobbles there would confirm the market’s worst fears, while a clean, confident presentation from Ittycheria could stabilize the stock quickly.

4. Volato Group (SOAR) | Closed at $0.38, Up 74.09% | An Aviation Company’s Sudden AI Pivot

From Private Jets to AMD-Powered Data Centers, Overnight

Volato Group capped off a dramatic corporate transformation with one of the sharpest percentage gains of the day, driven by a genuinely enormous contract relative to its size.

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Why It Gained: Volato’s Alignment Engine subsidiary — acquired via a recently completed merger — signed two four-year AI infrastructure orders worth a combined $1.17 billion with a single customer, covering deployment of dedicated AMD GPUs at a newly built AI campus in Ohio. The deal represents a near-total pivot for a company that built its original business around private aviation charter services, now betting its future on AI data center infrastructure instead.

Technicals: Shares surged above short-term moving averages but remain below the 200-day EMA at $0.41 — a gap technical analysts flag as “the central tension” in the setup. Bulls need a close above the $0.39 daily pivot and eventually the $0.46 resistance level to confirm the breakout; a break below $0.31 support would likely invalidate the bullish case entirely, especially given RSI readings already flashing overbought on both daily and hourly charts.

Bull Case: A $1.17 billion contract for a company with a market cap still measured in the tens of millions represents a genuinely transformative revenue opportunity if executed, and completing the Alignment Engine merger gives Volato a real foothold in one of 2026’s hottest infrastructure themes.

Bear Case: The company remains unprofitable with negative cash flow, its price-to-sales ratio has already expanded well above historical norms purely on today’s announcement, and extreme overbought technical readings suggest a near-term pullback is more likely than continued follow-through.

Forecast: Watch for the stock to either consolidate above the $0.39 pivot — confirming institutional buyers are sticking around — or fade back toward $0.31 support as the initial headline excitement wears off.

5. Almonty Industries (ALM) | Trading at $13.26, Down 3.35% | Tungsten’s Second Big Headline This Month

The Same Critical Mineral Behind Elmet’s $450 Million Pentagon Deal Is Back in Focus

Almonty Industries gave back a modest amount of ground Monday, but the real story is a genuine operational milestone that continues validating the broader critical-minerals investment theme we first covered through The Elmet Group’s $450 million Department of War tungsten investment two weeks ago.

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Why It’s in Focus: Almonty confirmed its Sangdong processing plant and crushing facilities in South Korea received mining facility inspection certificates, authorizing commercial operation and the processing of tungsten ore into saleable concentrate for both domestic South Korean and export markets. Almonty also disclosed an amended offtake agreement with Global Tungsten & Powders, a Plansee Group company, extending the contract term to 21 years and covering more than 4.4 million metric tonne units of tungsten concentrate — with the vast majority of production already substantially contracted before the mine even reaches full ramp-up.

Technicals: Monday’s modest 3.35% pullback looks like routine profit-taking after a strong run tied to the September 21 certification news, rather than any deterioration in the underlying story. Support sits at $13.00, a round-number level. Resistance sits at $14.50–$15.00, recent highs.

Bull Case: A 21-year, largely pre-contracted offtake agreement gives Almonty exceptional revenue visibility for a mining name, and the timing — landing just weeks after Elmet’s government-backed tungsten deal made the entire sector a Wall Street talking point — puts Sangdong squarely in the spotlight as Western tungsten supply-chain security becomes a bipartisan policy priority.

Bear Case: Mining operations carry inherent execution risk even after certification, and a name this closely tied to a single commodity and a single customer relationship (Global Tungsten & Powders) has concentration risk if that relationship or global tungsten pricing shifts.

Forecast: With commercial operations now authorized, the next real catalyst is initial production and shipment data — the market will be watching closely for confirmation that Sangdong can execute on the operational side as smoothly as it has on the regulatory and contracting side.

6. Sagimet Biosciences (SGMT) | Trading Near $9.81, Up Roughly 6% | A Quiet NASH Story Keeps Climbing

Steady Institutional Buying in One of Biotech’s Less-Followed Names

Sagimet Biosciences continued a slow-burn rally that’s been building for weeks, standing in sharp contrast to the single-day fireworks elsewhere on this list.

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Why It’s in Focus: Sagimet’s steady climb has been tied to continued momentum around its lead MASH (metabolic dysfunction-associated steatohepatitis) candidate, denifanstat, alongside industry-wide attention on the category following major licensing activity between larger players like Teva and Madrigal Pharmaceuticals — deals that have generally lifted sentiment across the smaller MASH-focused biotech names still working through their own pivotal trials. Bank of America grew its stake in the name by more than 340% in the first quarter, even as some insiders, including a company director, have trimmed personal holdings in recent weeks.

Technicals: Shares are trading comfortably above both the 50-day ($9.58) and 200-day ($7.63) moving averages, a healthy technical setup. Support sits at $9.58, the 50-day MA. Resistance sits at $11.45, this month’s 52-week high.

Bull Case: A Strong Buy consensus with a $29.60 average target — implying more than triple upside from current levels — reflects genuine institutional conviction in the MASH opportunity, and rising sector-wide licensing activity suggests larger pharma players see real commercial value in this drug class.

Bear Case: Insider selling, even if modest, combined with a beta above 3.4, means this stock can reverse just as sharply as it’s climbed, and MASH remains a competitive, unproven commercial category with no guarantee any single drug captures durable market share.

Forecast: With no near-term binary catalyst on the immediate calendar, SGMT looks like a name to watch for continued steady accumulation rather than a single dramatic move — the kind of slow-grind setup institutional investors tend to prefer building positions into.

7. Worthington Enterprises (WOR) | Down 3.61% | A Strategic Acquisition Meets a Skeptical Market

Paying Up for Growth Isn’t Always Rewarded Immediately

Worthington Enterprises found itself on the wrong side of Monday’s tape despite management framing its latest move as a clear strategic win.

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Why It Tanked: Worthington outlined its acquisition of LSI alongside a 19% revenue growth framing as part of the company’s broader strategic expansion, but the market’s initial reaction was negative — a common pattern when investors focus on acquisition price, integration risk, or near-term dilution ahead of digesting the longer-term growth case management is making.

Technicals: With the decline driven by a single corporate announcement rather than sector-wide weakness, the stock’s next move will likely hinge entirely on how analysts model the LSI deal’s earnings impact once fuller details emerge.

Bull Case: If the 19% revenue growth figure management cited proves durable and well-integrated, Monday’s dip could represent a buying opportunity for investors willing to look past near-term acquisition-related uncertainty.

Bear Case: Markets often sell first and ask questions later on acquisition news, and if the LSI deal was priced at a full multiple or funded in a dilutive way, the initial negative reaction could prove justified rather than an overreaction.

Forecast: Watch for sell-side analyst notes over the next few sessions specifically modeling the LSI transaction’s accretion or dilution — that reaction, more than Monday’s initial move, will tell the real story.

8. Atlas Energy Solutions (AESI) | Up 13.5% | Oil’s Iran-Driven Surge Has a Direct Beneficiary

When Geopolitics Becomes a Trading Catalyst for Frac Sand

Atlas Energy Solutions led all S&P-adjacent market movers Monday, benefiting directly from the same oil-price spike that pressured the broader market.

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Why It Gained: As a leading supplier of frac sand and proppant logistics to U.S. shale producers, Atlas Energy Solutions sits directly downstream of drilling activity — and drilling activity, in turn, responds quickly to sustained higher oil prices. Monday’s broader market weakness was driven substantially by oil surging back toward $110 a barrel after Trump rebuffed Iran’s peace proposal — the same macro story we’ve been tracking since crude first crossed $100 earlier this month. For an oilfield services name like Atlas, that’s a direct tailwind rather than a headwind.

Technicals: With the stock already up 32.4% year-to-date heading into Monday, this move extends an established uptrend rather than marking a sudden reversal — a healthier technical setup than a stock spiking from a flat or declining base.

Bull Case: Continued Middle East tensions and stalled diplomacy point toward sustained elevated oil prices, which directly supports drilling activity and, by extension, demand for Atlas’s core proppant business.

Bear Case: Energy services names are inherently leveraged to a single macro variable — any credible de-escalation in the Iran situation could reverse the oil-price tailwind just as quickly as it appeared.

Forecast: AESI functions almost as a direct trading proxy for oil-price sentiment right now — watch crude prices, not company-specific news, for the best read on where this stock heads next.

9. Genius Sports (GENI) | Up 11.0% | A Sports-Data Name Riding Broad Momentum

No Single Headline, But the Chart Doesn’t Care

Genius Sports posted one of the day’s stronger percentage gains without an obviously identifiable single catalyst — a pattern worth noting honestly rather than manufacturing an explanation that doesn’t exist.

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Why It’s in Focus: No specific company announcement from Monday appears to explain this move; the gain looks more consistent with a broader bounce in sports-betting and data-technology names, or short-covering in a stock that remains down over 40% for the year. Genius Sports provides official data feeds and technology infrastructure to major sports leagues and betting operators — a business model that can be sensitive to sector-wide sentiment shifts even absent company-specific news.

Technicals: With the stock still down more than 40% year-to-date despite Monday’s pop, this remains a name trading well below where it started 2026 — today’s gain, however sharp, has to be viewed against that much larger decline.

Bull Case: A stock down this much for the year has room to run on any genuine sentiment shift, and the broader sports-betting data infrastructure business has long-term structural tailwinds as legalized wagering continues expanding across U.S. states.

Bear Case: A gain with no identifiable catalyst is inherently less reliable than one backed by concrete news — this kind of move can reverse just as quickly as it appeared once the underlying reason (if it’s simply short-covering) plays out.

Forecast: Absent a confirmed catalyst, treat this as a name to watch for follow-through volume rather than a confirmed trend change — sustained buying over the next several sessions would be more meaningful than a single day’s percentage move.

10. Wabash National (WNC) | Up 11.3% | An Industrial Cyclical Catches a Bid

Trailers and Transportation Equipment Get a Rare Green Day

Wabash National rounded out Monday’s list of notable movers with a solid double-digit gain in a sector that’s had a difficult stretch in 2026.

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Why It’s in Focus: As with Genius Sports, no single company-specific press release from Monday clearly explains Wabash’s gain — the move appears consistent with a broader rotation into industrial and transportation-equipment names, a sector that had been under pressure for much of the year on freight-demand concerns. Wabash’s YTD performance of +54.3% despite a challenging freight backdrop suggests the stock has already been finding buyers on a longer timeframe than Monday’s single session implies.

Technicals: A stock already up more than 50% for the year posting an 11%+ single-day gain is a meaningfully different setup than a stock trying to recover from a large loss — this looks like continuation of an existing uptrend rather than a reversal.

Bull Case: If freight and trailer demand is genuinely bottoming after a rough multi-year cycle, Wabash’s already-strong 2026 performance could have further room to run as industrial cyclicals catch a broader bid.

Bear Case: Without a specific confirmed catalyst, it’s difficult to distinguish a durable trend shift from a single-day sector rotation that could reverse just as quickly next session.

Forecast: Watch trucking and freight-volume data releases in the coming weeks — those industry-wide numbers, more than any single stock announcement, will likely determine whether Wabash’s strong 2026 continues into Q4.

Sector Snapshot: A Market Torn Between Biotech Fireworks and Macro Anxiety

Monday’s session captured two very different stories running in parallel. On one hand, idiosyncratic, company-specific catalysts — Kodiak’s trial data, MongoDB’s leadership shakeup, Volato’s AI pivot, Almonty’s mining certification — drove some of the sharpest individual stock moves of the month, almost entirely disconnected from the broader tape. On the other, the macro backdrop we’ve been tracking all month (oil surging past $100, Treasury yields climbing past 5%, and now Trump’s rejection of Iranian peace talks) continued weighing on sentiment broadly, as covered in our recent pieces on the 30-year mortgage rate hitting a two-year high and the AI industry’s own internal debate over development pace. With Q3 closing out in just two more trading sessions, expect continued volatility as portfolio managers finalize quarter-end positioning against this same unresolved geopolitical and rate backdrop.

At a Glance: Stocks to Watch Tomorrow

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Disclaimer: This publication is entirely for informational and journalistic purposes and does not constitute formal financial, investment, or legal advice. All market investments carry inherent risks of capital loss, and small-cap, high-volatility stocks like those featured above carry elevated risk. Stock prices, percentage moves, technical levels, and market data cited reflect figures available at the time of publication and are subject to change as trading continues. Analyst price targets and ratings are third-party estimates and do not guarantee actual results. Always complete independent due diligence prior to executing equity trades.

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Kasia Davis

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