Planet Resource Recovery, Inc. (OTC Pink: PRRY) operates as a manufacturer and distributor of all-terrain vehicles (ATVs) and related accessories. Shares of the ATV company are skyrocketing 95% through early trading on Wednesday, August 10, 2022. Over the past thirty days, Planet Resource Recovery has seen average daily volume of 645,215 shares. However, volume of 14.67 million shares or dollar volume of around $171,639, has already exchanged hands through early trading.
Shares of Planet Resource Recovery are surging after the company provided an update on its ATV business and product line. The company is preparing to re-launch manufacturing of its MAX ATVs, which were originally built by Recreatives Industries, Inc. between 1969 and 2013 in Buffalo, NY. Planet Resource Recovery recently acquired all the intellectual property and related tooling associated with the MAX ATV, which aims to revive the product after several years.
Aside from its manufacturing plans, the company says a new MAX parts website is currently being finished up and is expected to go live shortly. The website will offer genuine OEM MAX parts and accessories, which gives Planet Resource the edge of being an official supplier. The parts website is all part of the MAX ATV revival, which aims to “reawaken” the customer base.
Management says they are continuing to source the production of proprietary MAX parts and components before launching vehicle manufacturing. The company says this will support its supply chain and allow the company to launch new MAX vehicles in the future.
President Galen Reich stated: “Our mission is to offer extraordinary off-road mobility to both consumer and commercial markets by manufacturing off-road vehicles with unique design features that give them the exceptional capability to traverse terrain that is impassable to most other types of off-road vehicles. The company’s initial focus is on relaunching the recreational/light utility MAX all-terrain vehicle product line using tried-and-true designs to help rebuild the supply chain and achieve acceptance more quickly in the larger global ATV industry, which is still expanding at a rate of over 1,010,000 units per year.”
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