Applied Digital (APLD) had the highest return between 2021 and 2024 by a small-cap US stock, returning 3,295.6%.

ASSET	YEARS	% RETURN
Applied Digital (APLD)	2021-2024	3,295.56%
Alpha Metallurgical Resources (AMR)	2021-2024	1,757.33%
Build-A-Bear Workshop (BBW)	2021-2024	1,121.6%
Sezzle Inc Common Stock (SEZL)	2021-2024	1,029.36%
Natural Resource Partners (NRP)	2021-2024	980.49%
Empresa Distribuidora y Comercializadora Norte SA ADR (EDN)	2021-2024	914.42%
Power Solutions International, Inc Common Stock (PSIX)	2021-2024	821.05%
Indivior PLC Ordinary Shares (INDV)	2021-2024	813.97%
Peabody Energy (BTU)	2021-2024	770.66%
Obsidian Energy (OBE)	2021-2024	764.18%
CVR Partners (UAN)	2021-2024	757.02%
Grupo Supervielle (SUPV)	2021-2024	648.61%
Innodata (INOD)	2021-2024	638.69%
Hallador Energy (HNRG)	2021-2024	624.68%
Destiny Tech100 (DXYZ)	2021-2024	613.45%
Climb Global Solutions (CLMB)	2021-2024	612.16%
Calumet Specialty Products Partners (CLMT)	2021-2024	608.04%
Willis Lease Finance (WLFC)	2021-2024	599.52%
Limbach (LMB)	2021-2024	593.19%
Nano Nuclear Energy Inc Common Stock (NNE)	2021-2024	591.53%
Bel Fuse A (BELFA)	2021-2024	591.41%
Tidewater (TDW)	2021-2024	522.41%
Central Puerto (CEPU)	2021-2024	513.85%
Target Hospitality (TH)	2021-2024	504.06%
ZIM Integrated Shipping Services (ZIM)	2021-2024	482.3%

Small-cap stocks are treated as having a market cap between $300M and $2B.