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Pineapple Energy Inc (NASDAQ:PEGY) shares are trading lower by 24.4% to $0.14 Tuesday, pulling back following Monday’s strength. The stock has seen marked volatility after the company on Friday announced the resignation of CEO Kyle Udseth, which was effective immediately. Scott Maskin, a Pineapple board member and founder of SUNation Energy, will serve as Interim CEO.
SUNation Energy, a solar company from Long Island, was acquired by Pineapple in November 2022. SUNation was founded in 2003 by Maskin, who has 23 years of experience in the solar industry.
Pineapple's Chairman, Roger Lacey, emphasized the company’s commitment to restoring shareholder value and commended Udseth for his contributions over the past four years.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Pineapple Energy's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, PEGY has a 52-week high of $1.53 and a 52-week low of $0.04.
Posted In: PEGY
