Trading on Wall Street was conducted on Thursday with declines and on Friday gains were recorded, so that in the last two trading days of the week the leading indices S&P 500, Dow Jones and Nasdaq weakened cumulatively by a moderate rate, of 0.1%-0.6%. Several Israeli stocks stood out in trading or published reports interesting:
Zuz Power has completed a merger with SPAC
The merger of Zoz Power with an American SPAC company was completed at the end of the week and the stock began trading on Nasdaq on Friday. The company (previously called Chakratech), managed by Boaz Weiser, is engaged in the development of kinetic storage technology designed for fast charging of electric vehicles. The SPAC stock In the days before the merger, Zoz Power fell by 69.6%, from a price of $13.47 last Tuesday to $4.1 on Thursday. The first day of trading in Zoz shares opened at a price of $3.58 and at the end it rose to a price of $4.1. We note that the company’s value at the end of the week Trading on the Tel Aviv Stock Exchange last Thursday was approximately NIS 110 million. According to the agreement with the SPAC, after the merger, the original shareholders of Zoz Power are expected to hold 40-50% of the merged stock.
Redcom replaces CEO after two months
The technology company Radcom which provides solutions for network insights for communication providers, announced about two months ago the appointment of Guy Shemesh as CEO, replacing Eyal Harari who retired after 4 years in the position. Last weekend the company surprised when it announced Shemesh’s departure. According to the report, Shemesh is leaving the position for personal reasons , and in his place will temporarily be Hilik Itman, chief operating officer at Redcom. The board of directors has begun the process of finding a permanent CEO, who they say will lead Redcom to the next stage of growth.
Rachel (Hali) Ben-Nun, the active chairwoman of the company, said that she was satisfied that Itman agreed to serve as interim CEO and promised that the change would be done smoothly. “Redcom remains fully committed to increasing profitability and growth, and continuing the positive momentum of recent years,” said Ben-Nun.
Radcom is traded on Nasdaq at a value of 167 million dollars, after a 33.6% increase in the stock since the beginning of 2024. The report on the replacement of the CEO was published after the end of trading on Friday, so it did not affect trading in the stock.
You discovered: 4 orders a week and a salary increase for the CEO
stock you discovered rose last week by 12.2% against the background of four different reports on orders it received, totaling 35 million dollars. Another report published by the company last week was a summons to the shareholders’ meeting, which will be held at the company’s offices in Petah Tikva on May 2. Among other things, the company requests to update the terms of employment of CEO Adi Tzapadia, who has held the position since 2020. Subject to the approval of the shareholders, Tzapadia’s monthly salary from April will be 125,000 dollars (compared to NIS 110,000 when he assumed the position of CEO) as well as in the years 2026-2024 He will be entitled to a bonus of up to 6 monthly salaries, and an additional bonus in some cases, of up to 4 monthly salaries.
Gilat, which provides technological solutions in the field of satellite communication, is traded on Nasdaq and Tel Aviv at a value of 347 million dollars and in the last year its shares increased by 23.8%.
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