Green Giant (NASDAQ:GGE) stock is on the rise Friday after the real estate development company revealed its 2023 Equity Incentive Plan.
That plan includes a registration statement for 8.36 million shares of GGE stock. These shares will be used in the company’s 2023 Equity Incentive Plan.
The basics of this is that these shares will be distributed to employees of the company. That includes executive leaders as a form of payment for their services.
How This News Affects GGE Stock
Investors in the company are reacting positively to the 2023 Equity Incentive Plan. That brings with it heavy trading of GGE stock on Friday morning.
As of this writing, more than 53 million shares have been traded. That’s a massive increase in trading volume compared to Green Giant’s daily average of about 1.4 million shares.
Green Giant is a real estate development company with a focus on residential apartments, car parks and commercial properties. The company operates out of its headquarters in Hanzhong, China and was previously known as China HGS Real Estate before undergoing a name change in March 2022.
GGE stock is up 80.7% on Friday morning following an 88.6% drop during normal trading hours yesterday.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
