Shares of Applied UV Inc.
soared virtually six-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 497.6% in afternoon trading, to pace all gainers on major U.S. exchanges. Trading volume of 102.8 million shares compares with the full-day average of about 326,000 shares over the past 30 days. The stock has been halted briefly for volatility 14 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 384.4% over the past three months while the S&P 500
has gained 10.3%.