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CHRA Stock Alert: 14 Things to Know About Charah Solutions as Shares Skyrocket 40%

Charah Solutions (NYSE:CHRA) stock is taking off on Friday after announcing a massive deal with Dominion Energy (NYSE:D).

handful of coal. ccr stocks to sell
Source: Shutterstock

Here’s everything that potential investors need to know about CHRA stock and the deal with D.

  • Charah Solutions is a “provider of environmental services and byproduct sales to the power generation industry.”
  • This has the company helping other companies meet standards and recycle waste products from power generation.
  • That includes distributing ash byproducts from coal combustion to those that can make use of it.
  • That’s where the deal with Dominion Energy comes into play.
  • The company is looking to meet government guidelines for its leftover ash.
  • Charah Solutions will assist by setting up the infrastructure to do so.
  • This will have it supply the ash byproduct to cement kiln feed markets.
  • These companies can make use of it when making cement for construction projects.
  • The deal with Dominion Energy will have it relocating 8.1 million tons of coal ash.
  • D has contracted Charah Solutions to take care of this starting this year through 2032.
  • The remaining coal ash not part of this agreement will be stored by Dominion Energy in a lined landfill.
  • The news caught the interest of investors, who are now heavily trading shares of CHRA stock.
  • As of this writing, some 22 million shares have changed hands.
  • To put that in perspective, the company’s daily average trading volume is only about 40,000 shares.

CHRA stock was up 42.1% as of Friday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/01/chra-stock-alert-14-things-to-know-about-charah-solutions-as-shares-skyrocket-40/.

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