What's Going On With SYLA Technologies Stock Tuesday?

SYLA Technologies SYT shares are trading higher on continued momentum Tuesday afternoon. The company recently announced that one of its subsidiaries completed a merger with SYLA Biotech Corporation.

What To Know: SYLA Solar, a wholly-owned subsidiary of SYLA Technologies, announced that it completed a significant merger with SYLA Biotech Corp this week.

SYLA Solar has absorbed and merged with SYLA Biotech, a SYLA Technologies subsidiary known for operating 100% renewable energy data centers. SYLA Technologies said the strategic move aligns with its focus on advancing its renewable energy business to achieve mid-term sales targets by the end of the fiscal-year 2026.

Since both companies are subsidiaries of SYLA Technologies, the merger has been executed as a non-monetary transaction without the issuance of new shares. The company said the move aims to leverage the strengths of both entities.

SYLA Technologies also noted that it has received strong support from Japan’s Ministry of Economy, Trade and Industry for the development of solar power sources.

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SYT Price Action: SYLA Technologies shares were up 60.5% at $3.01 at the time of publication, according to Benzinga Pro.

Photo: solarseven from Shutterstock.