WISCONSIN (CoinChapter.com) — Stocks increased on Monday to start the last trading week of August, helped by advances in the technology sector. The Dow Jones Industrial Average increased by 0.5%. The NASDAQ Composite increased 0.4%, while the S&P 500 increased 0.4%.
Here are the five best stock market gainers:
GD Culture Group Ltd. (NASDAQ: GDC)
The stock of GD Culture Group Ltd. (NASDAQ: GDC) skyrocketed by 92.5% in active premarket trading on Monday, nearly doubling its value, then tapering off at 60.24% following the announcement of its plans to venture into live-streaming e-commerce business on TikTok.
This move significantly increased trading volume to 7.7 million shares, a stark contrast to the average full-day trading of approximately 44,200 shares over the past month. According to Xiaojian Wang, the company’s CEO, this strategic move aligns with the changing global e-commerce trends.
Hersha Hospitality Trust (NYSE: HT)
Halper Sadeh LLC, a law firm specializing in investor rights, is thoroughly investigating the sale of Hersha Hospitality Trust (NYSE: HT) to affiliates of KSL Capital Partners, LLC. The investigation is focused on whether the $10.00 per share sale represents a fair deal for Hersha shareholders.
Key questions under investigation include potential violations of federal securities laws and breaches of fiduciary duties by Hersha’s board of directors. In particular, Halper Sadeh LLC is investigating whether they failed to secure the best possible consideration for Hersha shareholders and to disclose all pertinent information fully.
Hawaiian Electric Industries Inc. (NYSE: HE)
On Monday, Hawaiian Electric’s (NYSE: HE) shares saw a dramatic jump, nearing 40%, following the company’s announcement that its power lines in West Maui had been shut down for over six hours before wildfires broke out.
The company’s shares were trading at $13.30, even after experiencing at least two halts since the market opened. Despite the surge, the stock has lost more than half its value after the Aug. 8 wildfires. Hawaiian Electric also pushed back against a lawsuit filed by the county of Maui, deeming it “factually and legally irresponsible” and shifting the blame for the Hawaii wildfires back onto the county’s shoulders.
Thorne Healthtech Inc. (NASDAQ: THRN)
Halper Sadeh LLC, a leading investor rights law firm, has announced an investigation into the sale of Thorne HealthTech Inc. (NASDAQ: THRN) to L Catterton for $10.20 per share. The investigation seeks to determine if Thorne’s board of directors violated federal securities laws and breached their fiduciary duties to shareholders during this transaction.
Specifically, the investigation will investigate whether the board failed to secure the best possible deal for Thorne shareholders, adequately assessed L Catterton’s offer, and disclosed all necessary material information regarding the sale. This investigation aims to ensure the fairness of the ongoing transaction for all Thorne shareholders.
VinFast Auto Ltd. (NASDAQ: VFS)
On Monday, Vietnamese electric vehicle manufacturer Vinfast Auto Ltd. (NASDAQ: VFS) saw its shares surge by 17.78%, further escalating a rally that quadrupled the company’s market value to $160 billion just last week.
Following its impressive Wall Street debut earlier this month, this rapid rise in valuation has positioned Vinfast as the world’s third-most valuable automaker, trailing only behind market leaders Tesla and Toyota.
However, Vinfast’s limited number of publicly available shares has led to significant market volatility, resulting in the stock price oscillating by over 14% in 11 out of the past 12 sessions.
