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5 Top Stock Gainers for Monday: Corsair, MicroStrategy, Torchlight

Corsair Gaming, Riot Blockchain, Torchlight Energy Resources, MicroStrategy and Sorrento Therapeutics are five top stock gainers for Monday.

The S&P 500 and the Nasdaq closed at records Monday as investors geared up for a key meeting of the Federal Reserve later this week.

Here are some of the big movers in the stock market on Monday:

1. Corsair Gaming | Increase 11%

Corsair Gaming  (CRSR) - Get Corsair Gaming, Inc. Report surged as the gaming and content equipment maker appeared to add its name to the list of meme stock favorites. 

Last month, Corsair posted first-quarter earnings of $80 million on revenue of $529 million thanks to surging growth in its gaming and peripherals business.

2. Riot Blockchain | Increase 14%

Riot Blockchain  (RIOT) - Get Riot Blockchain Inc Report and other cryptocurrency-focused stocks traded higher as the price of Bitcoin jumped. Tesla Chief Executive Elon Musk said (TSLA) - Get Tesla Inc Report the EV maker would again allow transactions in the digital currency once it is more cleanly mined. 

Musk said in a tweet that he wants miners to use about 50% clean energy.

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3. Torchlight Energy Resources | Increase 15%

Torchlight Energy Resources  (TRCH) - Get Torchlight Energy Resources, Inc. Report shares jumped as the oil and gas producer appears to have joined the meme stock club. 

Torchlight's shareholders had approved a merger with Metamaterial  (MMATF) - Get METAMATERIAL INC Report

Metamaterial shareholders are expected to own 75% of the combined company, while Torchlight shareholders get 25%.

4. MicroStrategy | Increase 16%

Shares of MicroStrategy  (MSTR) - Get MicroStrategy Incorporated Class A Report surged after the analytics software and services provider said it had completed an offer of $500 million in secured notes at an annual interest rate of 6.125%. 

Last week, the Bitcoin Mining Council, led by MicroStrategy CEO Michael Saylor, made its debut.

5. Sorrento Therapeutics | Increase 6.7%

Sorrento Therapeutics  (SRNE) - Get Sorrento Therapeutics, Inc. Report shares jumped after the biopharma said it had entered a  research collaboration with Mayo Clinic to conduct human clinical proof of concept studies using the Sofusa Lymphatic Drug Delivery System technology. 

Sofusa is a drug delivery platform that delivers biologic therapies through the skin and directly into the lymphatic system.