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Energy Focus Inc. (NASDAQ:EFOI) shares are retreating Monday morning.
The stock fell 12.17% in premarket action. This move follows a massive rally during Friday’s session.
Profit-Taking After Triple-Digit Surge
The decline appears to be driven by profit-taking. On Friday, the stock was halted on a circuit breaker.
It ended that session up a staggering 242.11%. Traders are now locked in gains after the exponential move.
Data Center Progress Fuels Volatility
Friday’s surge began after the energy-efficient lighting company outlined multi-year progress on data center infrastructure work. It specifically highlighted its …
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