Safe Green Holdings nasdaq Sgbx Stock Bullish Run Continues What's Driving the Moementum

Safe & Green Holdings (NASDAQ: SGBX) Stock Bullish Run Continues! What’s Driving the Moementum?

Safe & Green Holdings (NASDAQ: SGBX) stock is seeing further gains in pre-market trading on Monday following a surge of around 90% during Friday’s intraday session.

Safe & Green Holdings (SGBX) recently announced exciting news about its subsidiary, SG Echo. SG Echo is gearing up to deliver its first sustainable modular unit to a prominent quick-service restaurant customer in the Pacific Northwest region.

The company revealed that the unit has successfully cleared its final plant inspection. It expects it to ship in the second quarter of 2024.

David Cross, Vice President of Business Development at Safe & Green Holdings, conveyed his excitement about this pivotal achievement, stating, 

“We’re honored to partner with this renowned quick-service restaurant chain and believe this collaboration is just the beginning of a significant relationship. Our team has worked diligently to meet the high standards set forth, and we’re thrilled that the unit has successfully passed the rigorous inspection process. We’re on track to deliver it later this quarter, marking a pivotal moment in our journey towards revolutionizing sustainable construction in the restaurant industry.”

Paul Galvin, Chairman and CEO of Safe & Green Holdings, further underscored the strategic significance of SG Echo’s Durant, OK facility, noting,

“Our centrally located facility in Durant, Oklahoma, is uniquely positioned to cater to commercial markets across the United States. This delivery showcases our capacity to provide top-quality, sustainable solutions that meet the evolving needs of our clients nationwide. This milestone represents a major step in Safe & Green Holdings’ mission to provide innovative, eco-friendly modular solutions that redefine efficiency and sustainability by leveraging advanced modular construction techniques.”

Safe & Green Holdings (NASDAQ: SGBX) Stock Price Action

SGBX stock surged 89.08% to close at $5.54 on Friday. Its value has risen by 88.05% this week. Trading activity has witnessed 92,176,248 (92.17 million) shares changing hands, well above the average daily volume of 1.88 million.