EOSE - Small Cap Finds Early Success Following Strategic Investment Announcement

2024-06-24 12:29:33 ET

It’s relatively rare in the penny stock world that we discuss industrial stocks gaining steam simply because it seems that the majority of securities in that sector are large caps trading much higher than $5.00/share.

Today serves as a unique exception, however, after a New Jersey-based industrial company announced a strategic investment of up to $315.5 million from an affiliate of Cerberus Capital Management LP, to support its growth plans during a secular shift in global energy markets, according to this morning’s press release.

This sent shares of %EosEnergyEnterprises Inc. (Nasdaq: ) soaring on Monday, with traders pushing the price up to $1.16/share (+35.53%) at the early session high. This small cap has plenty of upside, so be sure to add this one to your watchlists!

Eos Energy Enterprises Inc designs, manufacture, and markets battery storage solutions for the electric utility industry. The solutions are used in the utility sector, the renewable energy sector, and the industrial sector. Its flagship product Eos Znyth is a stationary battery energy storage system.