What's Going On With Safe & Green Holdings Stock?

Shares of Safe & Green Holdings Corp. (NASDAQ:SGBX) are on watch Friday after the construction engineering company acquired Giant Holdings.

Safe & Green Holdings stock is showing downward pressure. What’s ahead for SGBX stock?

What To Know: Safe & Green bought Giant Holdings for an undisclosed amount of cash and stock. Giant Holdings makes custom modular shipping containers.

The acquisition fits into Safe & Green’s long-term strategy of bolstering its design, engineering, sales, and project execution capabilities. At the time of acquisition, Giant Containers had over $5 million in projects under contract, with an additional $22.5 million in its pipeline. Some of its customers include Tesla, Amazon, General Motors, Nike, and Yale University.

Giant Containers' core strength in sales, marketing, and project management complement Safe & Green's in-house production and manufacturing capabilities. The company said that scalable domestic fabrication is an increasingly critical requirement for larger enterprise and government customers.

“The current AI-driven trend is hungry for power, and we are well positioned to meet that demand using our own resources,” said Michael McLaren, CEO of Safe & Green. “Our streamlined vision is to control the supply chain from subsurface to end user, and with Giant Containers onboard, we now have a critical component to execute that strategy,"

SGBX Price Action: Safe & Green shares were roughly flat at $2.40 at the time of publication, according to Benzinga Pro.

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