Springview (SPHL) stock rocketed higher on Thursday after the residential and commercial building designer and construction company announced a memorandum of understanding with green energy company Jiangsu GSO New Energy Technology. The two companies intend to explore a strategic partnership that would bring solar power to residential buildings in Singapore.
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The potential partnership would see Springview design its residential buildings with the addition of solar panels from Jiangsu GSO New Energy Technology in mind. Jiangsu GSO New Energy Technology would also be available for engineering and support related to these solar panels.
Springview noted that it intends to launch a pilot of this collaboration with Jiangsu GSO New Energy Technology, which will allow the two companies to evaluate the potential of the partnership. However, it notes that there is no guarantee the deal will continue beyond this pilot stage.
Springview Stock Movement Today
Springview stock was up 348.44% in pre-market trading on Thursday, following a 5.46% drop yesterday. The stock has rallied 8.17% year-to-date but was down 91.99% over the past 12 months.
With today’s news came heavy trading of SPHL stock, as more than 19 million shares changed hands, compared to a three-month daily average of about 3.85 million units.
Is Springview Stock a Buy, Sell, or Hold?
Turning to Wall Street, Springview stock lacks significant analyst coverage. TipRanks’ AI analyst Spark also doesn’t have anything to say about the stock. This lack of info and the volatility of the shares highlights the risk of investing in SPHL stock. While today’s rally is massive, it might not last, and could leave unfortunate traders holding the bag.