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SPACs, biotech, geothermal, and AI stocks rally with major deals and volatility driving gains

Market News
01 Sep 2026
Alex Lavoie
View Source
Bullish
SPACs, biotech, geothermal, and AI stocks rally with major deals and volatility driving gains

SPAC stocks like Rising Dragon Acquisition surged nearly 47% amid volatility, while biotech firm bioAffinity Technologies jumped 44% after a reverse stock split. Renewable energy company Fervo Energy gained 28% following a major geothermal power deal with Google. AI infrastructure firm Corvex and leveraged ETFs tied to Moderna also posted strong gains, reflecting sector-specific developments and market momentum.

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