Vertiv stock soars 16.5% after strong third-quarter results

Vertiv Holdings Co (VRT) shares soared 16.5% to $242.94 on Wednesday after strong third-quarter results, reports say.

The electrical components and equipment maker reported a 61% sales surge, and orders more than doubled, reports say.

The close leaves the stock 36.1% below its 52-week high of $379.94, though it is up 27.6% over the past year. Volume was 3.3 times the recent average, while the S&P 500 edged up 0.3% the same day.