3 E Network (MASK) Shares Surge On Heavy Volume Following Recent AI Expansion News

3 E Network Technology Group Ltd (NASDAQ:MASK) shares are trading sharply higher Monday morning, despite a lack of company-specific news for the session. Trading activity has been explosive, with volume reaching 127.03 million shares as of 11:40am ET, a massive deviation from the stock's 100-day average volume of just 4.929 million. Here’s what investors need to know.

• 3 E Network stock is showing exceptional strength Monday. Why is MASK stock surging?

What To Know: The rally appears to be a delayed reaction to significant operational updates earlier in the month. On Dec. 15, the company announced a Master Services Agreement with Orka Technologies to develop a 26MW AI data center in Finland, marking its entry into the AI infrastructure market.

Following this, on Dec. 19, 3 E Network closed a $2 million convertible promissory note offering to further fund its growth initiatives.

Monday's volatility is amplified by the company's tight structure, featuring a public float of only 9.148 million shares and a short float of 298,000 or 3.26%.

The stock meanwhile has traded in a range of $0.2245 to $0.275 during the session, holding gains well above the previous close of $0.183.

Benzinga Edge Rankings: Despite the explosive intraday rally, Benzinga Edge stock rankings, which utilize critical scores to identify market strength, currently flag MASK with negative Price Trends across short, medium and long-term timeframes.

MASK Price Action: 3 E Network shares were up 32.79% at 24 cents at the time of publication on Monday. The stock is trading near its 52-week low of 17 cent, according to Benzinga Pro data.

In terms of support and resistance, the immediate support level appears to be around the recent low of 17 cents. Should the stock manage to maintain its upward momentum, it may encounter resistance near the 30 cent mark, which could act as a psychological barrier for traders.

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