Stock Alert: Star Peak Energy Up 22%
Shares of special purpose acquisition company Star Peak Energy Transition Corp. (STPK) were trading 22 percent up on Thursday despite no stock-related news to drive the upward movement.
In March, Star Peak Energy had announced a merger with energy storage specialist Stem Inc. and the deal is expected to be finalized within April. Both companies will conduct a vote on the merger on April 27, seeking approval. Once everything is finalized the merged company will trade under the ticker “STEM” on the NYSE.
The stock is currently trading at $31.17, up $5.66 on the NYSE.
The company shares have traded between $9.60 and $51.49 during the last 52-week period.
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