Why AvidXchange Holdings, Inc. (AVDX) Skyrocketed On Wednesday

We recently published a list of Why These 10 Stocks Soared Today. In this article, we are going to take a look at where AvidXchange Holdings, Inc. (NASDAQ:AVDX)stands against other Wednesday’s best-performing stocks.

The stock market rebounded on Wednesday, with all major indices ending in the green as investors cheered the Federal Reserve’s decision to keep interest rates unchanged.

On Wednesday afternoon, the Fed kept rates steady at a range of 4.25 percent to 4.5 percent, saying that it was not in a hurry to cut rates and could still “wait and see” the impact of President Donald Trump’s tariff policies.

The Dow Jones rallied by 0.70 percent, the S&P 500 increased by 0.43 percent, and the Nasdaq grew by 0.27 percent.

Beyond the major indices, 10 firms stood out with strong gains, thanks to a flurry of fresh developments, including new partnerships, optimistic outlooks, and impressive earnings performance. In this article, we name Wednesday’s 10 best-performing stocks and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

A software engineer working intently at a computer desk, surrounded by the latest technologies.

AvidXchange Holdings, Inc. (NASDAQ:AVDX)

AvidXchange jumped by 18.78 percent on Wednesday to close at $9.74 apiece as investors snapped up shares following news that it is set to be acquired by investment firm TPG and Corpay for $2.2 billion.

In a statement, Corpay said it inked a definitive agreement with the two parties for the acquisition of AvidXchange Holdings, Inc. (NASDAQ:AVDX) shares at a price of $10 apiece.

Under the deal, TPG will own a majority stake in AvidXchange, while Corpay will take the remaining 33 percent.

Corpay will also have the option to increase its stake in AvidXchange to as much as 100 percent by 2028.

The transaction is expected to be completed in the fourth quarter of 2025, subject to customary closing conditions.

“We couldn’t pass up the opportunity to participate in this transaction and invest in a large, complementary corporate payments business,” said Corpay Chairman and CEO Ron Clarke.

Overall, AVDX ranks 3rd on our list of Wednesday’s best-performing stocks. While we acknowledge the potential of AVDX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AVDX but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

Disclosure: None. This article is originally published at Insider Monkey.