SUNation Energy, Inc.
(NASDAQ:SUNE) stock rose Monday as investors reacted to a definitive merger agreement with solar manufacturer Suniva and a broader rally in technology stocks.
The Nasdaq was up almost 2%, supporting risk appetite across the market.
SUNation, Suniva Strike Merger Deal SUNation Energy and Suniva on Monday signed a definitive reverse merger agreement that would combine solar manufacturing and installation businesses to create a larger U.S.-focused solar platform.
The combined company is expected to operate under the Suniva name while maintaining SUNation's Nasdaq listing.
