Shares of Applied UV Inc. AUVI, +336.87% soared more than four-fold in volatile, active trading Tuesday, after the New York-based company, which applies ultraviolet light to destroy airborne pathogens, announced the closing of an acquisition of almost all of the assets of Akida Holdings LLC. The acquisition, by Applied UV’s subsidiary SteriLumen Inc., includes all of the rights to make and sell the Airocide System of air disinfection and purification technologies. The stock skyrocketed 305.8% in morning trading, to pace all gainers on major U.S. exchanges, on volume of 33.6 million shares, which compares with the full-day average of about 326,000 shares over the past 30 days. The stock has already been halted briefly for volatility four times since the open. When Applied UV first announced its intent to buy the Airocide System from Akida on Nov. 9, the stock rose 1.3% on volume of about 630,000 shares that day. The latest data show that short interest of 28,070 shares was about 1% of the public float. The stock, which started trading on Aug. 31, 2020, has now rallied 229.0% over the past three months while the S&P 500 SPX, -0.00% has gained 10.2%.
View Article Origin Here
