General Fusion Shares Surge 25% on Second Day of Trading After SPAC Merger
GFUZ sits 51% above its 52-week low of $9.12.
Summary
General Fusion shares jumped 25% to $13.76 on their second day of trading following the SPAC merger with Spring Valley Acquisition Corp. III. The deal provides around $150 million in cash, which CEO Greg Twinney says will fund the demonstration machine and scientific milestones. The company aims for a commercial fusion plant around 2035. This is the first publicly traded fusion-energy company, backed by investors including Jeff Bezos, and the strong debut reflects market enthusiasm for fusion energy amid rising power demand.
At the time of this announcement, GFUZ was trading at $13.75 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $422M. The 52-week trading range was $9.12 to $14.85. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.