Mammoth Energy shares rise 20.11% intraday after selling Aquawolf subsidiary to Qualus for $30M.

Mammoth Energy surged 20.11% intraday after announcing the completion of a $30 million sale of its Aquawolf subsidiary to Qualus. The transaction, part of Mammoth’s portfolio optimization strategy, monetized a business that grew revenue from $12.1 million in 2022 to $17.3 million in 2024. The sale reinforced management’s confidence in unlocking undervalued assets and deploying capital for long-term shareholder returns, as highlighted by CFO Mark Layton. The acquisition by Qualus, a power infrastructure leader, added grid modernization capabilities, aligning with Mammoth’s strategic focus on high-margin engineering services. The transaction’s premium valuation and alignment with the company’s growth-oriented transformation initiatives drove the intraday rally.