ZenaTech, Inc. (ZENA) saw a significant rise in its stock price on December 27, 2024, closing at $8.48, up 6.27% from the previous day's close of $7.98. The stock opened at $8.30 and reached an intraday high of $10.00 before settling down. The surge was primarily driven by positive developments in its legal proceedings, as the ICSID Arbitral Tribunal rejected the Republic of Tunisia's request for bifurcation in an ongoing arbitration case involving ZenaTech's subsidiary, Zenith Energy Ltd. This decision, announced on December 23, 2024, is perceived as a major win for ZenaTech, allowing the arbitration process to continue without delay and potentially leading to a favorable outcome involving claims of approximately US$503 million.
Despite the initial spike, trading volume was notably low at 2,303,623 shares, about 35.82% of the average daily volume, indicating that the market is still digesting the implications of the legal victory. Additionally, social media buzz around ZenaTech's innovative IQ Nano drone, which promises to revolutionize inventory management, has contributed to positive investor sentiment. The combination of legal success and technological innovation has fueled optimism about ZenaTech's future prospects.