ClearSign's stock rockets toward record gain on record volume after Exxon Mobil purchase order - MarketWatch

Shares of ClearSign Technologies Corp. CLIR, +198.18% nearly tripled on record volume Tuesday, after the provider of products that enhance the performance of combustion systems announced a purchase order from oil giant Exxon Mobil Corp. XOM, +2.46%. The stock blasted as much as 305.1% higher to a 17-month high of $3.20 earlier in the session before paring gains to be up 168.1% in midday trading, which puts it on track for the biggest one-day gain since the company went public in April 2012. Trading volume was a massive 122.5 million shares, compared with the previous record volume of 3.7 million shares on Oct. 18, 2019, and enough to make the stock the most actively traded on major U.S. exchanges. The Seattle-based company said late Monday that the purchase order form Exxon Mobil was for the fabrication and installation of ClearSign Core process burners at the Baytown, Texas refinery. Financial details were not disclosed. "This is the culmination of a multi-year relationship that spans before my joining the company," said ClearSign Chief Executive Jim Deller. "This order is the final step in demonstrating our technology with a supermajor at its refinery." The stock has gained 178.7% year to date, while Exxon shares have tumbled 30.8% and the Dow Jones Industrial Average DJIA, +2.46% has slipped 7.7%.

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http://www.marketwatch.com/story/clearsigns-stock-rockets-toward-record-gain-on-record-volume-after-exxon-mobil-purchase-order-2020-06-16

2020-06-16 16:58:00Z
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