AI Frenzy: 10 Stocks Crushing the Market, 6 Climb to Fresh Highs

3. Sable Offshore Corp. (NYSE:SOC)

Sable Offshore snapped a three-day losing streak on Wednesday, jumping 22.58 percent to close at $24.59 apiece as investors repositioned portfolios on optimism for the Las Flores pipeline’s restart this month.

It can be recalled that Sable Offshore Corp. (NYSE:SOC), in an updated report last August, announced targets of recommencing oil sales upon the expected restart of the onshore pipeline this September.

The Las Flores pipeline has been ordered shut since 2015 following a catastrophic pipeline rupture that resulted in a massive oil spill.

At present, the project is facing legal and regulatory roadblocks after multiple environmental organizations challenged Sable Offshore Corp. (NYSE:SOC), barring the restart of the pipeline.

In other recent news, Sable Offshore Corp. (NYSE:SOC) is facing a class action lawsuit over allegations that it provided misleading business updates, including restarting oil production off the coast when it had not, saying that statements about its “business, operations, and prospects, were materially false and misleading.”

Sable Offshore Corp. (NYSE:SOC) has yet to issue a statement on the allegations.