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Why Agrify (AGFY) Stock Is Skyrocketing

Agrify shares are trading higher by 34% during Tuesday's session. The company announced it installed a PX-30 Hydrocarbon Extraction System at a customer's facility.
byHenry Khederian
February 6, 2024
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Agrify Corp (NASDAQ:AGFY) shares are trading higher by 34% to $0.86 during Tuesday’s session after the company announced it installed a PX-30 Hydrocarbon Extraction System at a customer’s facility in Michigan.

The company says the PX-30 is Agrify’s largest system in its PX-Extraction series, representing an advancement in hydrocarbon extraction technology for enhanced efficiency and precision.

The customer, Lume Cannabis, previously operated with Agrify’s XMU Hydrocarbon Extraction System but upgraded to the PX-30 to meet growing demand for premium extracts.

Stan Gourentchik, Lab Manager at Lume Cannabis, expressed satisfaction with Precision Extraction Solutions, Agrify’s subsidiary, for their support throughout the installation and startup process.

See Also: Why Peraso Stock Is Nosediving

According to data from Benzinga Pro, AGFY has a 52-week high of $10.00 and a 52-week low of $0.50.

 
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