New Order Announcement Causes Significant Buying Pressure

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, August 10, 2022

A California-based micro cap is seeing its shares bid up pretty aggressively during Wednesday’s premarket after the company announced that Prime Secured will use its products and software to provide its customers with greater physical security and flow management capabilities. According to the release, this announcement insinuates a multi-million dollar order from Prime Secured, which sent shares of Quanergy Systems Inc. (NYSE:QNGY) rallying early on Wednesday.

Quanergy’s mission is to create powerful, affordable smart LiDAR solutions for automotive and IoT applications to enhance people’s experiences and safety. Quanergy has developed the only true 100% solid-state CMOS LiDAR sensor built on optical phased array (OPA) technology to enable the mass production of low-cost, highly reliable 3D LiDAR solutions. Through Quanergy’s smart LiDAR solutions, businesses can now leverage real-time, advanced 3D insights to transform their operations in a variety of industries including industrial automation, physical security, smart cities, smart spaces and much more. Quanergy solutions are deployed by nearly 400 customers across the globe.

As previously mentioned, it appears that traders are bullish on the news as shares are currently bid up at $0.403/share (+22.05% implied open for sellers) at the time of writing. This will likely be an exciting session for this micro cap.

Copyright © 2022 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.