Pineapple Energy (NASDAQ:PEGY) stock is taking off on Tuesday after the company announced a new solar power project in New York.
Pineapple Energy subsidiary SUNation signed a 1.95 megawatt project for a “large-scale commercial installation.” This project is expected to start in July with an expedited installation on a commercial building in New York.
Pineapple Energy interim CEO and SUNation founder Scott Maskin said the following about this project:
“Projects of this size and complexity can take years to develop. This project went from first contact to execution in a matter of months. This developer knew exactly what they wanted and who they wanted to work with. Congratulations to my SUNation Commercial and Industrial team for the herculean effort to meet the requirements of this project.”
How This Affects PEGY Stock Today
News of the project brings with it heavy trading of PEGY stock today. This has more than 470 million shares changing hands as of this writing. That’s a massive surge in trading volume compared to the company’s average of about 58.8 million shares.
PEGY stock is up 90.5% as of Tuesday morning. However, shares are still down 46.4% since the start of the year.
Investors looking for even more of the most recent stock market stories today are going to want to stick around!
We are offering up all of the hottest stock market news worth reading about on Tuesday! That includes what’s going on with shares of Texas Instruments (NASDAQ:TXN) stock, Alibaba (NYSE:BABA) stock and DraftKings (NASDAQ:DKNG) stock today. All of this info is ready to go at the links below!
More Stock Market News for Tuesday
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
