Why Just Energy Group Spiked Over 100% Today

Shares of Just Energy Group (NYSE: JE) more than doubled this morning, before settling back to a gain of 34% as of 11:50 a.m. EDT. The Canadian energy solutions company provided an update that investors found favorable. 

Just Energy announced it is one step away from closing its recapitalization plan. It said it is only awaiting final approval by the Federal Energy Regulatory Commission (FERC), the U.S. agency that regulates the transmission and sale of electricity and natural gas in interstate commerce. 

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Source Fool.com