Key Highlights

  • STAK Inc. (NASDAQ:STAK) traded at USD 1.78 in intraday trading on November 13, 2026, up 17.50%, on about 5.7 million shares against a three-month average of roughly 4.37 million.
  • No new release was issued on November 13; the stock was up about 29% before the open, continuing momentum from a November 5 update on its gas-powered generator business.
  • That update disclosed a non-binding letter of intent for generator procurement, with an initial value in the hundreds of thousands of US dollars and later phases potentially in the millions.
  • For the year to June 30, 2026, Revenue rose 13.21% to USD 28.2 million and the company swung to Net Income of USD 425,541 from a USD 5.71 million loss.

Momentum From the Generator Strategy

STAK is a China-based maker of oilfield production and maintenance equipment and specialised oilfield vehicles, and it also sells battery-electric industrial vehicles. No release explained the November 13 move, which looks like continued speculative interest in its new power business. On November 5 a Subsidiary signed a non-binding letter of intent for the procurement of gas-powered generators. The initial indicative value was in the hundreds of thousands of US dollars, with later phases potentially worth millions, on an ex-works basis and with no obligation to buy. The stock rose 82.12% that day. The generator push builds on a June memorandum of understanding to form a 60% owned US subsidiary to Supply modular gas-to-power units of up to 1.4 MW each, aimed at AI data centres. On-site gas generation has become a theme for data centre developers facing grid delays, and that link appears to explain why a small letter of intent drew such a large reaction. Management also changed in early November, with a new chief financial officer appointed from November 1 after the prior finance and technology chiefs resigned.

A Return to Profit, With Thinner Margins

Fiscal 2026 results, released on October 21, showed revenue up 13.21% to USD 28.2 million from USD 24.9 million. Vehicle sales more than doubled to USD 22.2 million, while equipment revenue fell 53.89% to USD 5.5 million. Gross Margin narrowed to 26.43% from 30.86% as the mix shifted toward vehicles. General and administrative costs fell to USD 2.0 million from USD 6.8 million, which drove the swing to net income of USD 425,541 from a loss of USD 5.71 million. Diluted Earnings were USD 0.02 per share, which explains the trailing price to earnings ratio of about 246 on the screen. The stock jumped 59% after hours on the day of that release. Cash, including restricted cash, rose to USD 4.9 million, but Operating Activities used USD 2.7 million and short-term borrowings doubled to about USD 11.05 million, so the profit did not translate into cash generation.

Governance and Dilution Considerations

Several governance points deserve attention. In October shareholders approved raising Class B voting rights from 30 to 100 votes per share, cutting Par Value and increasing authorised Capital to 750 billion Class A and 250 billion Class B shares, which gives the board wide room to issue stock. In January the company sold 6 million units at USD 0.38, each with warrants for 1.5 shares at USD 0.46 that become exercisable in early 2028. The stock regained Nasdaq bid price compliance in April after a deficiency notice the previous October. At USD 1.78 the intraday Market Value is about USD 34.4 million, roughly 1.2 times annual revenue, and the 52-week range of USD 0.29 to USD 12.00 shows how volatile the shares have been. Investors should watch whether the letter of intent becomes a binding order, progress on the US generator subsidiary and how Working Capital is funded.

Where Things Stand

STAK Inc. (NASDAQ:STAK) rose 17.50% to USD 1.78 on November 13, 2026 without a new release, extending a run driven by its gas-powered generator plans and a return to profit. The generator deal is non-binding, Cash Flow is negative and authorised Share Capital is very large, so firm orders will matter more than headlines.