QNGY - New Order Announcement Causes Significant Buying Pressure

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 %QuanergySystems () rallying early on Wednesday.

Quanergy’s mission is to create powerful, affordable smart %LiDARSolutions 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.

About AllPennyStocks.com Media Inc.:

AllPennyStocks.com Media, Inc., founded in 1999, is one of North America’s largest and most comprehensive small-cap / penny stock financial portals. With Canadian and U.S. focused penny stock features and content, the site offers information for novice investors to expert traders. Outside of the countless free content available to visitors, AllPennyStocks.com Pro (premium service) caters to traders looking for that trading edge by offering monthly stock picks, daily penny stock to watch trade ideas, market commentary and more.