SPI - Why SPI Energy's Shares Popped 105.1% Today Before Crashing
Shares of SPI Energy (NASDAQ: SPI) soared another 105.1% in trading on Thursday as investors continued a run that saw the stock jump 1,250% yesterday . But like the pop in shares yesterday, the gains didn't last, and at 3 p.m. EDT shares were down 3.1% for the day.
Yesterday's pop was driven by the announcement that SPI will add an electric vehicle and EV charging subsidiary to its business. This would be added to its traditional solar business, creating more of a vertically integrated energy company.
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Why SPI Energy's Shares Popped 105.1% Today Before Crashing