CGE Energy Inc (OTCPk-CGEI) stock surged to $2.400 at yesterday’s close, representing a 60.00% gain. Last week, CGE Energy stock’s performance exceeded 242% compared to its performance of 220% over the past month. Due to CGEI stock price rise in the absence of current news, recent developments can be used to analyze the company in greater depth.
How did things go recently at CGEI?
As an energy developer and self-powered infrastructure owner and operator, CGE Energy and its wholly-owned subsidiary Clean Green Energy, Inc. develop sustainable energy projects over the long term. With CGEI, businesses, municipalities, and nonprofits can resolve their energy challenges. Through the use of their energy services and products, CGEI customers are able to save energy, reduce costs, reduce emissions and take advantage of environmental benefits.
According to CGE Energy, its subsidiary Aradatum has made significant strategic moves and plans to publicly detail its roll-out plans within the next few months.
- At the moment, Adaatum is scaling up, creating a pre-sales network in anticipation of deliveries beginning in 2022, preparing the towers for commercial manufacture, and speaking with potential investors.
- These moves are on the horizon for the market and short interest.
- Short interest has dropped significantly.
- CGEI has previously said that it plans to spin-off Aradatum at some point in the future to own and operate self-powered cell towers for the telecom and technology industries.
How CGEI will spin off Aradatum?
The intention is that upon spin-off, the CGEI Shareholders will receive Aradatum Shares per CGE Share owned as of the last trading day prior to the spin-off, as a result of a one Aradatum Share for every one CGE Share. Shares in Aradatum will only be awarded to CGEI shareholders until the spin-off. Until Aradatum is spun-off, holding CGEI Shares or investing in a large private equity raising is the primary way to own it.