Planet Resource Recovery (OTCMKTS:PRRY) Stock On Watchlist Following MAX ATV Production Update

Yesterday, Planet Resource Recovery (OTCMKTS:PRRY) was in the news after it made a major new announcement and it led to some traction for its stock, which ended up with gains of 4% for the day. The company announced yesterday that it had continued to make efforts for the re-launch of the MAX amphibious vehicles next year.

Trading Data

On Thursday, PRRY stock ended flat at $0.0057 with 82.50K shares, compared to its average volume 252.83K shares. The stock moved within a range of $0.0057 – 0.0057 after opening trade at $0.0065.

Planet Resource Recovery, Inc. (OTC: PRRY) MAX ATV Production Update

To that end, Planet Resource has started by procuring the key components and assembly parts which are essential for testing the vehicle. Galen Reich, who is the president of the company, noted that the testing of sample parts of the vehicle was essential in order to ensure the quality of the product. He noted that it was particularly important for vehicles like MAX, which are meant for extreme conditions.

Eventually Planet Resources Recovery is aiming to launch its own brand of engines and has already placed the order for a particular sample engine. Many other components have also been ordered and these are all going to go into the vehicle that is going to be used for the pilot test. It should be noted that over the past months the vehicle has already undergone considerable off-road testing hours.

Key Quote

President Galen Reich stated, “Thorough testing of MAX’s sample parts and proprietary drivetrain components is essential to ensure product quality and form-fit-function for volume production, especially with off-road vehicles such as MAX, which often operate in extreme conditions.”

Technical Data  

PRRY stock is trading below the 20-Day and 50-Day Moving averages of $0.0062 and $0.0064 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0084.