Canadian Renewable Energy Stock Powers Up on Financial Results

Pinnacle Renewable Energy (TSX:PL), a Canadian renewable energy stock, climbed after announcing record Q2 revenue

Sean Mason | August 11, 2020 | SmallCapPower

Record revenue sparked a Canadian renewable energy stock Tuesday. Here’s some small stocks making big moves on Tuesday, August 11, 2020 (as of 4 pm EST):

Pinnacle Renewable Energy (TSX:PL), a Canadian renewable energy stock, surged 17% to $5.85 on Tuesday after announcing record Q2 revenue of $132.2 million, up 27% from a year ago, along with Adjusted EBITDA of $16.1 million for the quarter.

Win Big With Our Small Cap Picks

 

As well, shares of Fennec Pharmaceuticals Inc. (TSX:FRX) sank 35% to $8.75 as the specialty pharmaceutical company said it received a Complete Response Letter from the U.S. Food and Drug Administration (FDA) regarding its New Drug Application for PEDMARK, for the prevention of ototoxicity associated with cisplatin chemotherapy in pediatric patients, which identified deficiencies with the facility of the drug product manufacturer.

Solaris Resources Inc. (TSXV:SLS) stock, meanwhile, continued to move higher Tuesday, up 23% to $2.99 following 38% a gain on Monday, after reporting assay results for the first hole at its Warintza Project in Ecuador, which included 567 metres of 1.0% copper equivalent from surface.

Finally, GLG Life Tech Corporation (TSX:GLG) shares jumped 28% to $0.25 after the zero-calorie sweetener supplier announced the sale of one of its two idle facilities, along with substantial reduction of the Company’s debt.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

To read our full disclosure, please click on the button below: