WISCONSIN (CoinChapter.com) — US equities fell on Thursday as Wall Street attempted to recover from two straight sessions of losses, as the benchmark 10-year Treasury yield increased to remain close to recent highs.
Here are the five best stock market gainers:
CervoMed Inc. (NASDAQ: CRVO)
CervoMed Inc. (NASDAQ: CRVO), previously known as Diffusion Pharmaceuticals Inc., made a significant announcement today regarding its merger with EIP Pharma Inc. The clinical-stage company, dedicated to developing treatments for degenerative brain diseases, announced it would continue operations under the CervoMed Inc. name.
The shares of the newly merged entity will start trading on a 1-for-1.5 reverse split-adjusted basis from August 17, 2023, on the NASDAQ Capital Market under the ticker symbol “CRVO.” Post-merger, CervoMed Inc. will focus on advancing Neflamapimod, its lead drug candidate and an oral stress kinase inhibitor.
Advanced Health Intelligence Ltd. (NASDAQ: AHI)
Advanced Health Intelligence Ltd. (NASDAQ: AHI) shared a significant accomplishment in its persistent dedication to innovation and research. AHI has successfully secured eligibility for a 43.5% reimbursement of approved expenditures for overseas Research & Development (R&D) from the Australian Government.
This achievement concerns the costs incurred overseas for the R&D of intellectual property (IP) under the Australian Government Research and Development Tax Incentive Scheme.
This announcement came after the relevant government authorities’ comprehensive review and analysis. The funding will significantly aid Advanced Health Intelligence’s R&D projects, specifically those focused on further enhancing its IP.
LSI Industries Inc. (NASDAQ: LYTS)
LSI Industries Inc. (NASDAQ: LYTS), a producer of commercial lighting and display solutions, announced its financial results for the ‘LSI Industries Reports Fiscal 2023 Fourth Quarter’ and the full year ending on June 30, 2023.
LSI posted record sales of $497.0 million, demonstrating significant growth, marking a 9% increase from the fiscal year 2022. The net income stood at $25.8 million, equivalent to $0.88 per diluted share, a considerable rise compared to the previous year’s net income of $15.0 million or $0.54 per share. The adjusted net income for fiscal 2023 was reported to be $29.0 million, or $0.99 per diluted share.
VCI Global Ltd. (NASDAQ: VCIG)
VCI Global Ltd. (NASDAQ: VCIG), also known as VCI Global, announced no news today to spark a 16.41% increase in its share price.
The most recent news was on July 19, 2023, four weeks ago. A collaboration was reported with Treasure Global Inc (NASDAQ: TGL). The partnership will be primarily focused on developing an AI-powered travel platform to enhance travel experiences in Malaysia.
The high-tech portable concierge platform will leverage the latest advanced technologies to provide real-time, relevant travel recommendations. The deal was a step forward for both companies, from discovering new places to assisting with other travel-related activities.
Super Group Ltd. (NYSE: SGHC)
Super Group Ltd. (NYSE: SGHC), the parent company of Betway and Spin, reported its Q2 2023 financial results today. The company saw a revenue increase of 19% to €380.8 million from €320.8 million in the same period of the prior year.
Its African, Middle Eastern and European markets primarily drove this growth. However, this was partially offset by declines in North America, particularly Canada, due to regulatory changes in Ontario and Asia-Pacific markets.
