Leishen Energy (LSE) stock surged on Wednesday without any clear news from the renewable energy company. However, that doesn’t mean investors are excited for no reason. Instead, the catalyst behind today’s movement is the release of some shares of LSE stock from lock-up.
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The shares affected by this lock-up are held by directors, officers, and investors with a more than 5% stake in the company. The lock-up started on Dec. 18, 2024, and the group agreed to keep these shares locked for six months. That time has passed, removing the lock-up on these shares and allowing them to be traded again.
The end of the lock-up has sent LSE stock rocketing higher on Wednesday, with a 77.66% rise as of this writing. Shares of LSE are up 14.43% year-to-date and have increased 11.47% over the past 12 months. Today’s rally also came with heavy trading, as some 11 million shares changed hands, compared to a three-month daily average of 10,420 units.
