Twin Vee PowerCats Stock Surges 33% In Pre-Market Hours Following New Interim CFO Appointment – Twin Vee PowerCats (NASDAQ:VEEE)

Twin Vee PowerCats VEEE shares rose 33.33% to $3.32 in pre-market trading on Wednesday, adding to a 4.18% gain in the regular session.

Check out the current price of VEEE stock here.

Leadership Change Drives Investor Interest

The jump in Twin Vee PowerCats’ stock follows the company’s September 17 filing, which announced Scott Searles‘ appointment as Interim Chief Financial Officer (CFO). Searles brings 20 years of corporate finance experience, including senior roles at Walmart Inc. WMT and his current position as vice-president at The Nuclear Company.

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Key Financial Details

As part of his 90-day interim agreement, Searles will receive a base salary of $60,000, along with potential equity awards, while the Florida-based company undertakes a search to identify a permanent CFO successor.

Market Context

The boat manufacturer trades within a 52-week range of $1.86-$9.30, down 55.05% year-over-year. It has a market cap of $5.57 million and an average daily trading volume of 2.95 million shares.

According to Benzinga Pro data, yesterday’s closing price of $2.49 represents a decline of about 12.32% from the 1-month peak of $2.84 on September 5.

Benzinga’s Edge Stock Rankings indicate that VEEE is experiencing long-term consolidation along with medium and short-term upward movement. Know how its momentum lines up with other well-known names.