ZenaTech, Inc. (ZENA) is experiencing a notable surge in its stock price today, driven by positive developments in its legal proceedings. On December 23, 2024, the ICSID Arbitral Tribunal issued a decision rejecting the Republic of Tunisia's request for bifurcation in the ongoing arbitration case initiated by Zenith Energy Ltd., a fully owned subsidiary of ZenaTech. This decision is seen as a significant win for ZenaTech, as it allows the arbitration process to proceed without delay, potentially leading to a favorable outcome for the company. The arbitration, which involves claims totaling approximately US$503 million, is a critical factor in investor sentiment, as it could result in substantial compensation for ZenaTech.
The market's reaction to this legal victory is reflected in ZenaTech's stock price, which has risen by 24.48% to $9.93 as of 9:49 AM on December 27, 2024. The stock opened at $8.30 and has reached a high of $10.00, with a low of $8.28. Despite being early in the trading day, the volume of shares traded is 847,626, representing 13.18% of the average daily volume of 6,431,413 shares.