NEW YORK, June 26, 2026, 18:02 EDT
- Keel ended the day up 2.7% at $6.03, with 122.31 million shares changing hands—roughly 2.8 times its 65-day average volume.
- Keel got added to the Russell 3000 in FTSE Russell’s final list after the U.S. market closed.
- Friday saw volume top Keel’s June 15 short interest and match about one-fifth of its public float.
Keel Infrastructure Corp. NASDAQ:KEEL gained Friday, trading on heavy volume. The action didn’t look like a typical AI play, but rather pointed to index moves and positioning.
The stock ended regular trading at $6.03, up 16 cents, or 2.7%. After hours, it edged down to $5.98 as of 6:00 p.m. EDT. MarketWatch data put the day’s volume at 122.31 million shares. The 65-day average volume is 43.39 million. MarketWatch
Heavy volume drove the move. Around 20% of Keel’s 601.03 million-share public float traded, which came in at 1.4 times the 87.29 million shares shorted as of June 15, MarketWatch data show. For a small infrastructure stock, Keel trades with good liquidity, but this kind of action can shift the short game. MarketWatch
FTSE Russell put Keel in the Technology sector for the Russell 3000, according to its final June 26 reconstitution file. The updated Russell U.S. indexes were scheduled to go live after the U.S. market closed June 26, LSEG’s FTSE Russell page said. LSEG LSEG
Russell inclusion often means funds tracking the index have to buy or change positions. Nasdaq told traders on Friday that Russell would price Nasdaq-listed stocks for the yearly rebalancing using the Nasdaq Closing Cross. NASDAQ Trader
Keel shares traded in a wide band, swinging between $5.50 and $6.15 on the day. The stock finished about 18% under its 52-week high at $7.37, despite the index move. MarketWatch
Keel is now trading as a stand-in for older bitcoin mining sites that are seen as potential future AI data-center projects. The company says it owns and develops data centers and energy assets for high-performance computing, including AI, and has a 2.2 gigawatt pipeline in Pennsylvania, Washington and Quebec. Keel Infrastructure
Keel got new cash. The company closed a $458 million offering of 1.250% convertible senior notes due 2032 on June 9. That number includes the full $58 million option. Keel used some proceeds to buy capped calls, which are set to limit dilution if shares rise as high as $11.86.
Keel says execution is the main risk. The company posted Q1 revenue of $37 million, down 23% on the year, and logged a $98 million operating loss. In its filing, Keel called trading in its securities “highly speculative.” Keel Infrastructure
Chief Executive Ben Gagnon said in May the company “focused our development pipeline on some of the highest-demand and most supply constrained HPC/AI markets in North America.” Liquidity is around $533 million, Chief Financial Officer Jonathan Mir said, and “fully funds the capital required” to move Panther Creek, Sharon and Moses Lake forward to lease execution. Keel Infrastructure
AI stocks didn’t get much support from the wider market. The Nasdaq Composite slipped 0.2% Friday and dropped 4.6% this week. The S&P 500 also lost 2% over the week, according to AP. apnews.com
