We recently published a list of These 10 Companies Led Tuesday’s Charge. In this article, we are going to take a look at where GDS Holdings Ltd. (NASDAQ:GDS) stands against other companies that led Tuesday’s charge.
Wall Street’s main indices finished mixed on Tuesday, with the Nasdaq as the sole loser, as investors largely brushed off President Donald Trump’s tariff threats in hopes that countries would eventually reach a negotiated settlement.
Additionally, investors cheered signals from the Federal Reserve that a rate interest cut was not imminent, saying it would wait as necessary before implementing any rate adjustments.
The Dow Jones eked out a 0.28 percent gain, while the S&P 500 inched up 0.03 percent. The tech-heavy Nasdaq dropped 0.36 percent.
Ten companies on Tuesday led the charge amid a flurry of positive news sparking buying appetite. This article detailed the reasons behind their performance.
To come up with Tuesday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A top level executive looking out of a skyscraper window, symbolizing the strategic decisions taken by the company.
GDS Holdings Ltd. (NASDAQ:GDS)
Shares of GDS Holdings surged 17.23 percent on Tuesday to close at $34.29 apiece as investors snapped up its shares following a news report that it was mulling over listing its international subsidiary DayOne on the US stock exchange.
According to a report by Bloomberg citing unnamed sources privy to the matter, GDS could potentially list DayOne in a bid to raise $500 million on the stock market.
The company was said to be targeting the initial public offering as early as this year, and that it is already in discussions with underwriters for the issuance.
GDS was able to raise $1.2 billion for DayOne in December last year from investors including SoftBank Vision Fund and Citadel Chief Executive Officer Ken Griffin.
GDS is a Chinese data center company with operations in China and Southeast Asia. Meanwhile, DayOne holds GDS’ data center and operations outside of mainland China.
DayOne’s portfolio currently includes approximately 480MW of data center capacity in service and under construction, as well as an additional 590MW held for future development across sites in Hong Kong, Singapore, Malaysia, Indonesia, and Japan.
Overall, GDS ranks 1st on our list of companies that led Tuesday’s charge. While we acknowledge the potential of GDS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as GDS but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
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