STAK Inc. (NASDAQ:STAK) shares are trading higher by over 60% during Thursday’s session as traders focus on a rebound attempt off the stock’s longer-term uptrend structure.
The stock rebounded from trading lower this week as energy prices retreat following progress in U.S.-Iran negotiations that are expected to lead to a signed MoU that reopens the Straight of Hormuz and outlines nuclear goals for further discussion.
New U.S. Subsidiary Plan
Last month, STAK said it plans to form a majority-owned U.S. subsidiary to commercialize modular gas-to-electricity generation systems aimed at AI data centers and other energy-intensive users across North America.
The company expects the subsidiary to be incorporated in Delaware, operate through a wholly owned entity in Texas, and be 60% owned by STAK with results consolidated.
