MRAM, HPAI: AI-linked Momentum Drives Two Specialty Small-Cap Plays Nearly 50% Higher Overnight

• MRAM stock has more than doubled since April 29, when the company announced its quarterly results and disclosed a $40 million defense contract win.
• The overnight surge came amid strong momentum for semiconductor stocks.
• Stocktwits sentiment from MRAM and HPAI jumped to ‘extremely bullish.’

Small-cap stocks Everspin Technologies and Helport AI surged 45% in overnight trading heading into Monday, despite no company-specific news, underscoring how traders continue to pile into smaller, lesser-known AI-linked names in anticipation of upside.

Everspin, which had a market capitalization of $632 million as of Friday, develops MRAM (magnetoresistive random access memory) chips, a specialized non-volatile memory used in data centers and industrial systems. 

MRAM stock has more than doubled since April 29, when the company announced its quarterly results and disclosed a $40-million defense contract win. First quarter revenue rose 13% to $14.9 million, while adjusted profit was $0.11 per share, beating estimates on both counts.

The stock jumped 25% on Friday amid broader strength in the memory and semiconductor sectors, driven by AI data center demand, with investors hailing MRAM as an undiscovered gem.

Helport AI develops AI-powered customer communication and contact-center software for enterprises, with products focused on AI call assistance and BPO operations across sectors such as finance, insurance and e-commerce. 

Unlike MRAM, HPAI’s jump came after a prolonged weakness and appeared to be tied to speculative trading often seen in low-float stocks, which tend to experience sharp price swings. 

With the RSI dropping to approximately 22.9 (deeply oversold), buyers stepped in aggressively, and Friday's after-hours volume rose to nearly 7 million shares, about 40 times the daily average. 

No new fundamental announcements have emerged since the April 2026 partnership with Singaporean e-commerce company QuickCEP; the latest share move aligns with momentum trading typically seen in volatile small-cap stocks.

HPAI shares dropped 33% last week and are down 76% year-to-date. 

Retail’s View Turns Bullish

On Stocktwits, retail sentiment for both MRAM and HPAI climbed sharply over the weekend and was ‘extremely bullish’ early Monday. 

“$MRAM similar sector but much lower market cap less than $1B as $MU $SNDK starting to move! Should perform similar pattern as MU SNDK and go parabolic given market value and locked up low float!” said a trader.

Another user advised adding the two, and Rackspace Technology (RXT) on watchlists, and said two more companies, Fluence Energy (FLNC) and Antelope Enterprise Holdings (AEHL), could run higher as well.

“$HPAI – AH runner with no clear same-night confirmed release. Momentum/thin-float/scanner-driven AI setup, with traders watching volume, liquidity, and whether the enterprise AI/customer-service backdrop keeps attention active,” they said.

“$MRAM – AH runner with momentum building after recent strength. No clear fresh same-night catalyst, but traders are watching prior earnings momentum, semiconductor.”

The rallies come as AI-linked demand is driving substantial momentum in semiconductor stocks, particularly memory chips. And the iShares Semiconductor ETF (SOXX) has gained 72% year to date, compared with an 8% rise in the SPDR S&P 500 ETF Trust (SPY).

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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