We recently published a list of 10 Firms Post Double-Digit Gains on Thursday. In this article, we are going to take a look at where Sable Offshore Corp. (NYSE:SOC) stands against other firms that posted double-digit gains on Thursday.

Wall Street’s main indices finished in the green territory on Thursday, as investors cheered President Donald Trump’s reciprocal tariffs–but not right away.

The Dow Jones rose 0.77 percent, the S&P 500 increased 1.04 percent, while Nasdaq jumped 1.50 percent.

Ten companies mirrored a broader market optimism, clocking in double-digit gains. In this article, we will explore the reasons behind their impressive performance.

To come up with Thursday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.Why Sable Offshore Corp. (SOC) Went Up on Thursday

Copyright: sifotography / 123RF Stock Photo

Sable Offshore Corp. (NYSE:SOC)

Sable Offshore surged by 25.17 percent on Thursday to close at $30.63 per share following news that it can now proceed with repair works for the Las Flores oil facility which was ordered shut in 2015 following an oil spill from a ruptured pipeline that released 450,000 gallons of oil near Refugio State Beach.

According to the company, it officially received a letter from the Santa Barbara County Planning and Development Department in California that allowed the company to conduct repair works as authorized by existing permits.

The letter also underscored that no further applications or actions are required for the repair work to proceed.

SOC is a Houston-based independent upstream company focused on responsibly developing the prolific Santa Ynez Unit in federal waters offshore California.

Overall, SOC ranks 4th on our list of firms that posted double-digit gains on Thursday. While we acknowledge the potential of SOC as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than SOC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.

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