Pioneering Technology hooked a big order. 20,000 4 burner kits normally sell for $199 so this is a multi million dollar order. Last qtr gross revs were $2.5 million so this will have a big impact on whichever qtr they deliver. They probably had to give a discount to their biggest customer but still should be very positive. Company was already profitable.
Big deal with Pioneering is still coming up. US regulation that will require some form of heat limiting technology in every new electric range sold in the US beginning 4/19. So far, PTE has the only device that has been approved under the regulation.
This is a pretty muted response to good news. Stock has been under pressure lately and it could be that numerous outstanding warrants have been converted and that stock is being sold into the news.
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