Why Is CNEY Stock Rising Today?
Synopsis
CN Energy stated in its announcement that it has agreed to acquire approximately 82% of Blessing’s equity interests.
CN Energy Group Inc. (CNEY) shares soared more than 23% in Thursday’s pre-market trade after the company announced that it has entered into a framework agreement with Blessing Logistics regarding a potential acquisition.
CN Energy stated in its announcement that the two parties have entered into a definitive share purchase agreement. Following this, CN Energy has agreed to acquire approximately 82% of Blessing’s equity interests.
The deal’s value is expected to be about $2 million currently, CN Energy said.
Retail sentiment on Stocktwits around CN Energy was in the ‘extremely bullish’ territory, with message volumes at ‘extremely high’ levels at the time of writing.
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