The Wild Ride of Israeli Stocks: Fluctuations and Mergers on Wall Street

Wall Street trading saw declines on Thursday, followed by gains on Friday. Despite the slight dip in the leading indices S&P 500, Dow Jones, and Nasdaq over the last two trading days of the week, several Israeli stocks made headlines.

One of these was Zoz Power, which completed a merger with an American SPAC company at the end of the week and debuted on Nasdaq on Friday. The company previously known as Chakratech focuses on kinetic storage technology for fast charging of electric vehicles. Zoz Power’s stock price fluctuated before and after the merger, with significant changes in value.

Another Israeli stock that saw positive movement last week was Gilat, which has seen a 23.8% increase in its shares over the past year. It is traded on both Nasdaq and the Tel Aviv Stock Exchange at a value of $347 million.

However, some companies experienced negative developments during this time. Radcom underwent a sudden CEO change when Guy Shemesh announced his departure for personal reasons after being appointed as CEO two months ago. The board of directors is currently searching for a permanent replacement to lead the company forward.

In addition to these developments, another Israeli stock received orders totaling $35 million last week, and a shareholder meeting has been summoned to discuss updating the CEO’s employment terms. The CEO’s salary and bonuses are set to increase pending shareholder approval.