Why Is SGBX Stock Up Over 7% In Premarket Today?

SGBX’s management unveiled a new integrated energy strategy, marking a shift away from its modular home construction business.

• The company also sees strong potential in containerized construction for industrial applications, CEO McLaren said in a letter to shareholders.
• The new strategy focuses on the company becoming a vertically integrated, technology-based energy producer with manufacturing capabilities.
• Retail sentiment on Stocktwits has remained ‘extremely bullish’ over the past 24 hours, and it is also among the top trending tickers on the platform.

Safe & Green Holdings Corp. (SGBX) stock climbed 7% in premarket on Thursday after its management unveiled a new integrated energy strategy, marking a shift away from its former modular home construction business.

SGBX has been on a sensational run this week, gaining in three consecutive sessions and adding over 180% in value.

Betting Big On Energy Vertical

According to a shareholder letter from CEO Michael McLaren, the company has now fully exited the housing sector, having concluded outstanding projects, and is refocusing on opportunities in its energy vertical. The new strategy will focus on the company becoming a vertically integrated, technology-based energy producer with manufacturing capabilities.

Why The Shift?

The updated roadmap follows nearly a year of active leadership from Olenox/NAHD, whose core business is energy, and which merged with Safe & Green earlier this year. 

In February this year, Safe & Green signed a definitive merger agreement with New Asia Holdings, the parent company of Olenox Corp. Under the deal, Safe & Green acquired all outstanding NAHD securities in exchange for non-voting convertible preferred shares.

Olenox’s core business is energy, and while most revenue still comes from oil and gas sales, the company now operates as a diversified, vertically integrated energy provider focused on technologies that cut production costs and reduce its carbon footprint.

How Did Stocktwits Users React?

Retail sentiment on Stocktwits has remained ‘extremely bullish’ over the past 24 hours, amid ‘extremely high’ message volumes. SGBX was among the top trending tickers on Stocktwits.

One user believes that the stock can surge to $12.

Despite the renewed optimism, SGBX stock is still down more than 80% year-to-date (YTD).

For updates and corrections, email newsroom[at]stocktwits[dot]com.<