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Tag: Just Energy Group

  • Why Just Energy Group (NYSE: JE) Soared Today?

    Why Just Energy Group (NYSE: JE) Soared Today?

    Just Energy Group Inc. (NYSE: JE) shares went up 3.57% as it gains +0.01 on Monday. A retail energy provider has announced that it is planning to close the previously announced plan of arrangement of the company, but the company is one step away to proceed with its plan. It is waiting for the approval of the Federal Energy Regulatory Commission (FRC).

    Earlier, the company has received the permission of all the stakeholders of the company and got the final court order from the Ontario Superior Court of Justice. Now the company can proceed with the Plan of Arrangement now.

    Just Energy Group Inc. believes that after executing this recapitalization plan, the company will be able to continue its operation as an independent company. The recapitalization plan will lead the company to sustainable growth.

    Shares of Just Energy Group (NYSE: JE) traded up 3.57% at $0.30 during the trading session of Friday. It has a 52-weeks low and high range of $0.24 and $93.72, respectively. Just Energy Group has moved up 23.17% from its 52-weeks low and traded down -99.68% from its 52-weeks high. This company had a trading volume of 8.73 million as compared to the average volume of 1.56 million.

    The recapitalization plan includes converting about $320 million in convertible debt and preferred shares into equity, a new $75 million equity investment, and the extension of the due date for about $410 million in debt and credit facilities. The company has also disclosed that it will continue its operations normally for its suppliers, employees, and customers.

  • Stocks to Watch despite Bearish Market Outlook

    Stocks to Watch despite Bearish Market Outlook

    The markets are down this morning, indicating that the selloff that started on Friday could continue all through the day. This is due to a combination of factors that could see the markets remain volatile for quite a while.

    One of the key factors dragging the market down is the rising number of COVID-19 cases globally. In the U.S, Europe and the rest of the world, the numbers are spiking again after a slowdown through August. This has created fears that even States that have reopened could go back into lockdown further, hurting an already weak economy.

    The pandemic-driven uncertainty is a compounded by the fact that the U.S is just a few weeks to an election. This means that investors are likely to exit from high-risk stocks in anticipation of a close-call election and increase volatile in the market.

    On top of that, markets are usually slow in September, and this coupled with the higher risk levels are all affecting the markets today. However, even in the current largely negative market sentiment, there are stocks that are headed to a good start to the day. Some of the stocks doing well pre-market are:

    Northern Oil and Gas Inc [NYSE: NOG]

    Northern Oil and Gas Inc is one of the biggest gainers this morning. This follows the company’s announcement that it was doing a 1 for 10 reverse stock split that will take effect today.

    The company stated that the split was aimed at lowering the cost of ownership and improve the company’s capacity to take part in broader market indices. The company also announced that it would be using the stock split to improve the financial health of the company. With the split in place, this stock stands to be a top gainer all through the day.

    Zomedica Pharmaceuticals Corp [NYSE: ZOM]

    Zomedica Pharmaceuticals Corp is another stock that is in the green this morning. This stock’s upside momentum is largely price action-driven and follows the announcement that the company was planning to make a gastrointestinal testing panel for TRUFORMA™. The company stated that this would add to the company’s portfolio of assays also include those for testing adrenal and thyroid issues tests.

    Just Energy Group Inc [NYSE: JE]

    This is another pre-market top performer and is up by over 10%. This follows the company’s announcement that it only awaiting FERC approval to close its plan of arrangement deal. The deal includes a move to recapitalize to strengthen the company’s market positions.