spiSPI Energy Co Ltd (NASDAQ: SPI) is having an overwhelmingly strong day in the market today, and for good reason. The company announced new operations in the United States. Of course, with tensions between the US and China on trade, this proved to be exciting news for investors who are sending the stock toward the sky in the market this morning. Today, we’ll talk about:
- The new US operations;
- what we’re seeing from SPI stock as a result; and
- what we’ll be watching for ahead.
SPI Announces New US Operations
As mentioned above, SPI energy is having an incredibly strong start day in the trading session today after the company announced new operations in the United States. In a press release issued early this morning, the company said that it opened a new office at 4677 Old Ironsides Drive, Suite 190, Santa Clara, California 95054. The company also announced that it launched a new US-based website at www. spigroups.com.
This news proved to be overwhelmingly positive for the company. After all, with trade tensions between the United States and China, it makes sense to have offices in both nations to avoid some additional costs associated with shipping product between the two.
What We’re Seeing From The Stock
As investors, one of the first lessons that we learn is that the news moves the market. In the case of SPI Energy, the news proved to be overwhelmingly positive. With the United States operations open, the company is capable of taking advantage of the strengths of both sides of the trade war, rather than being limited by tariffs. So, it comes as no surprise to see that excited investors are sending the stock toward the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:06), SPI is trading at $0.34 per share after a gain of $0.074 per share or 27.44% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SPI. In particular, we’re interested in following the company’s newly-founded United States operations and the revenue that is generated through it. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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