SUNation Energy Jumps 420% After Suniva Merger News
SUNation Energy Inc. jumped over five times on Monday after the solar installer said it will merge with Suniva, a U.S. solar cell maker, in a reverse merger. The deal would keep the merged company listed on Nasdaq and give Suniva’s owners control. SUNE jumped 420.35% to finish at $5.88, a huge move even for a small-cap. The stock hit $9.45 during the session. Early Tuesday, Google Finance tracked SUNE at $5.44 in pre-market.
