Top Five Stock Market Gainers: LEJU, DRUG, SILO, TLRY, PAY

WISCONSIN (CoinChapter.com) — Stocks fell further on Tuesday as a warning about the health of US banks, and unexpectedly dismal Chinese trade data sent shivers through markets.

The Dow Jones Industrial Average fell by almost 1%. Meanwhile, the S&P 500 fell over 1.1%, while the tech-heavy NASDAQ Composite fell around 1.5%.

Here are the five best stock market gainers:

Leju Holdings Ltd. (NYSE:LEJU)

There is no fresh news for Leju Holdings Ltd. (NYSE:LEJU), a leading e-commerce and online media platform for real estate and home furnishing industries in China.

The stock jumped 53% today, which is highly likely to the fact that according to figures provided by the People’s Bank of China on Monday, China’s foreign-exchange reserves increased for the second month in a row in July, bolstered by increasing asset values.

Forex reserves increased by $11.27 billion in July to $3.204 trillion. Investors found the news promising enough to push the Chinese holdings company higher.

Bright Minds Biosciences Inc. (NASDAQ: DRUG)

Bright Minds Biosciences Inc. (NASDAQ: DRUG) has announced encouraging findings from the qEEG data in Cohort 4 of its first-in-human Phase 1 study of BMB-101.

The company released this information following its announcement on July 20, 2023, about the successful completion of the study. The positive topline data revealed BMB-101’s commendable safety and tolerability profile in single and multiple ascending dose parts, along with its food effects. BMB-101 also showed central target engagement and predictable plasma pharmacokinetics.

Bright Minds is dedicated to creating breakthrough solutions for neuropsychiatric diseases, epilepsy, and pain.

Silo Pharma Inc. (NASDAQ: SILO)

Silo Pharma Inc. (Nasdaq: SILO), a developmental stage biopharmaceutical company, announced today that it has reached a significant milestone in its journey to merge traditional therapeutics with psychedelic research.

The company has advanced the formulation development for its therapeutic drug, SPC-15, a liquid nasal formulation aimed at treating and preventing anxiety, PTSD, and other stress-related disorders. This development is in alignment with the company’s sponsored research agreement and option with Columbia University, ensuring linearity, accuracy, and repeatability.

Tilray Brands Inc. (NASDAQ: TLRY)

Tilray Brands Inc. (NASDAQ: TLRY), the world’s largest cannabis firm, has recently made a strategic move that will position it as the fifth-largest craft brewer and the fifteenth-largest overall brewer in the United States.

This is following their monumental deal with Anheuser-Busch InBev to acquire eight of their beer and beverage brands. This Tilray Brands deal with Anheuser-Busch is a significant milestone in the ambitious growth strategy that their President, Irwin D Simon, introduced less than three years ago when he assumed leadership after the merger of Aphria and Tilray.

His vision was for Tilray Brands to become the first cannabis company to venture into this scale of brewing business.

Paymentus Holdings Inc. (NYSE: PAY)

Paymentus Holdings Inc. (NYSE: PAY) has announced its Q2 2023 financial results.

The firm reported impressive growth in several key areas, including a 24.1% upswing in revenue, a 22.3% increase in contribution profit, and a staggering 183.8% boost in adjusted EBITDA year-over-year. This jump in revenue, which totaled $148.9 million, is attributable to an uptick in transactions and higher average revenue per transaction.

Gross profit for the period was also robust, reporting at $45.9 million, marking a 28% year-over-year increase. The company’s adjusted gross profit stood at $50 million, reflecting a 29.1% growth year-over-year.