Pineapple Energy (PEGY) Shares Are Exploding Higher: What's Going On?

Pineapple Energy Inc PEGY shares are trading higher by 47% to $0.16 during Monday’s session. The company on Friday 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 Long Island-based solar company, was acquired by Pineapple in November 2022. Maskin, who has 23 years of experience in the solar industry, founded SUNation in 2003. Pineapple’s Chairman, Roger Lacey, expressed commitment to restoring shareholder value and praised Udseth’s contributions over the past four years.

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How To Buy PEGY Stock

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.