24/7 Market News Snapshot 23 Jul 2024 – Mammoth Energy Services, Inc. Common Stock (NASDAQ: TUSK)

July 23, 2024 8:00

Press Release

DENVER, Colo., 23 July, 2024 (247marketnews.com) – (Nasdaq:TUSK) are discussed in this article.
Mammoth Energy Services Inc.’s Common Stock (TUSK) is experiencing a substantial surge, trading at $4.851 in the pre-market session, reflecting a notable increase from the previous close of $3.5. This surge, accompanied by a trading volume of 1.0M shares and an impressive change percentage of 39.40, underscores the strong investor interest and potential for further growth in TUSK. Financial analysts are optimistic about the investment opportunities presented by Mammoth Energy Services Inc.’s upward momentum, signaling a lucrative prospect for investors.

In a significant development, Mammoth Energy Services, Inc.’s subsidiary Cobra Acquisitions LLC has made a groundbreaking announcement regarding a landmark release and settlement agreement with the Puerto Rico Electric Power Authority (PREPA) and the Financial Oversight and Management Board for Puerto Rico. This agreement is anticipated to yield substantial benefits, with Cobra set to receive approximately $188 million in settlement proceeds. The resolution of all outstanding matters between Cobra and PREPA signals a positive stride towards addressing key issues and fostering a mutually advantageous relationship between the parties.

This transformative agreement highlights Mammoth Energy Services’ dedication to delivering impactful outcomes and solidifies its position as a prominent player in the energy services sector. Through this successful negotiation, the Company showcases its commitment to overcoming complex challenges with strategic solutions, underscoring its reputation as an industry leader adept at navigating intricate landscapes and cultivating beneficial partnerships. Additional information on this milestone agreement can be accessed through the official announcement on PRNewswire.

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