5 Stocks That Rebounded This Week

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In this article, we discuss the 5 stocks that rebounded this week. If you want to see some more companies on the list, go directly to 10 Stocks That Rebounded This Week.

5. Vertiv Holdings Co (NYSE:VRT)

Number of Hedge Fund Holders: 34

Shares of Vertiv Holdings Co (NYSE:VRT) rose more than 12 percent this week. The surge came after the data center services provider disclosed the name of its upcoming chief executive officer.

Vertiv Holdings Co (NYSE:VRT) said its current Americas president Giordano Albertazzi will replace outgoing CEO Rob Johnson on January 1, 2023. The company added that Johnson is leaving due to his health issues.

Separately, asset management firm Baron Funds discussed Vertiv Holdings Co (NYSE:VRT) in its second-quarter 2022 investor letter, stating:

Vertiv Holdings, LLC, a leading provider of critical infrastructure for data centers, fell in the quarter. The market became concerned that capital spending for data centers might be slowing along with the economy, which could be the case. If you recall, shares of Vertiv were very weak when the company reported first quarter costs were not properly passed through to their customers, so margins would fall well short of projections.

We believe that Vertiv is now ahead of the curve on this and will demonstrate robust earnings power in the back half of 2022 and into next year. We think it’s a very cheap stock, with strong management and board oversight, and remain hopeful that when the company reverts to form, the shares can appreciate significantly.”

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