How Does The JENGQ Stock Price Increase By 31%?

In Friday’s close, Just Energy Group, Inc. (OTCPink:JENGQ) gained 31.35% to $1.28. JENGQ stock recorded a volume of 457.26K, higher than the average weekly volume of 228.19K. In the absence of current news, the JENGQ share price has risen, so we can look at recent developments to gain a deeper understanding of JENGQ.
How did JENGQ’s recent activities go?
Providing energy efficiency solutions, carbon offsets, and renewable energy options to customers, Just Energy is a retailer of electricity and natural gas commodities. JENGQ currently serves residential and commercial clients in the United States and Canada. As the parent company of Amigo Energy, Filter Group, Hudson Energy, Interactive Energy Group, Tara Energy, and Terrapass, JENGQ is a major energy provider.
Last month, Just Energy announced that the Ontario Superior Court of Justice had extended to December 17, 2021 the stay period under the Companies’ Creditors Arrangement Act (Canada), among other things. Similarly, JENGQ announced that a claims process has been established to identify and determine the claims that are subject to the ongoing CCAA proceedings against the Company and its subsidiaries.
• While JENGQ pursues its restructuring plan with its stakeholders, the stay extension permits JENGQ to continue operating in the ordinary course of business.
• It is JENGQ’s mission to continue to grow its business and serve its enormous customer base across North America while collaborating with its stakeholders to develop a successful restructuring plan.
• JENGQ’s CCAA proceedings are being monitored by FTI Consulting Canada Inc, as reported previously.
Also last month, Just Energy (JENGQ) member Terrapass announced its digital assets. Terrapass is a leader in carbon offset and renewable energy solutions. As an Ethereum blockchain token, Terrapass Coin operates as an ERC-20 asset. As TPSCs are received through designated Terrapass products, customers can own, buy, sell, trade, or offset their carbon footprint with Terrapass Coins, giving them greater control over their carbon offsets than ever before.
What does it do?
Terrapass has compiled a Terrapass Coin Standard, which is available online. Terrapass has allocated specific carbon offset inventory that meets the Standard, in the form of Terrapass Coins for every metric ton (mT) of carbon offsets reserved for TPSC products. The TPSC program rewards customers for purchasing carbon offsets from designated TPSC products by providing them with one TPSC for every MT of carbon offsets they buy. TPSCs are transferred quarterly to the digital wallet of the customer. The customer has the option of holding, gifting, trading, or using TPSCs to offset their own carbon footprint. Over 2,500 miles of driving might be avoided by purchasing one mT of carbon offsets.


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