5 Stocks With Easy Double-Digit Gains

1. Fervo Energy Company (NASDAQ:FRVO)

Fervo Energy soared by 35.33 percent in its first day as a publicly listed company, thanks to the strong investor appetite for stocks riding the AI wave.

During the session, the stock opened the day at $36, marking an immediate jump of 33.3 percent from its initial public offering (IPO) price of $27, and soared by as much as 42 percent at $38.40 apiece.

The rally was primarily driven by the continued demand growth for energy services from the rapidly growing artificial intelligence sector.

Fervo Energy Company (NASDAQ:FRVO) successfully raised $1.89 billion in fresh funds from the sale of 70 million shares, propelling its valuation to more than $10 billion.

According to the company, it intends to use the net proceeds for general corporate purposes, including capital expenditures, continued development of its GeoClusters, and expansion of its land holdings portfolio, while the balance will be used for working capital and other operating expenses.

Fervo Energy Company (NASDAQ:FRVO) is a startup energy company engaged in the development of geothermal power sources. It is underway with the development of the Cape Station in Utah, which is targeted to become the world’s largest next-generation geothermal project, with power already set to be supplied to Southern California Edison and Shell, among others.

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