Top Five Stock Market Gainers of 02/08/23: AURC, MEDS, POWL, AHI, VRT

WISCONSIN (CoinChapter.com) — Here are the five best-performing stocks on Aug 2.

Aurora Acquisition Corp. (NASDAQ: AURC)

Aurora Acquisition Corp. (NASDAQ: AURC) stock witnessed a rollercoaster swing in the stock market today.

Trading tripped a circuit breaker when the stock surged by 70.3%. Yesterday, shares fell by 27% due to a sell-off, and a significant rebound ensued. This is all due to yesterday’s update regarding the company’s anticipated special purpose acquisition company (SPAC) merger with Better.

TRxADE Health Inc. (NASDAQ: MEDS)

TRxADE Health Inc. (NASDAQ: MEDS) has seen a large increase in share price, rising by more than 60% amid a frenzy of trading activity.

The company’s recent statement about the successful completion of its acquisition of Superlatus, Inc. is the reason behind the move. According to the terms of the acquisition, Superlatus owners received 136,441 shares of MEDS common stock.

This constitutes a significant 19.99% interest in the total issued and outstanding MEDS ordinary shares.

Powell Industries Inc. (NASDAQ: POWL)

Powell Industries Inc. (NASDAQ: POWL), a leading provider of custom-engineered solutions for electrical energy management, control, and distribution, announced results today for the fiscal 2023 third quarter ended June 30, 2023. Highlights were as follows:

• Revenues increased 42% to $192 million;
• The backlog nearly tripled to a record $1.3 billion;
• New orders totaled $505 million, an increase of $303 million;
• Gross margin improved by 810 basis points to 22.2%;
• Net Income more than doubled to $19 million, or $1.52 per diluted share; and
• As of June 30, 2023, cash and short-term investments totaled $210 million.

Advanced Health Intelligence Ltd. (NASDAQ: AHI)

Advanced Health Intelligence Ltd. (NASDAQ: AHI) shares were up 42% on news that it has signed a binding exclusive, perpetual license agreement with Shanghai-based Changlin Network Technology Ltd.

Over the last 90 days, Shanghai-based Changlin Network Technology and Advanced Health Intelligence have collaborated on the terms and commercial aspects of the exclusive license for The Peoples’s Republic of China.

The license agreement includes an upfront payment of USD$10 million to AHI. Additionally, AHI will receive an annual license fee of USD$5m and a 25% revenue share of gross sales.

Vertiv Holdings LLC (NYSE: VRT)

Vertiv Holdings LLC (NYSE: VRT), a global provider of essential digital infrastructure and business continuity solutions, reported financial results for the second quarter that ended June 30, 2023, today.

Vertiv announced second-quarter net sales of $1,734 million, a $24% increase over the previous year’s second quarter and a 25% rise in organic net sales, excluding the impact of foreign currency. Foreign currency depressed second-quarter revenues by around $18 million compared to last year’s period.