Why Edison Nation Shares Are Skyrocketing Higher Thursday

Edison Nation Inc EDNT shares were trading higher by more than 166% to $4.45 in Thursday's pre-market session after the company announced more than $10 million in orders for personal protective equipment. Edison Nation is a microcap company with a valuation under $20 million.

This is Edison Nation’s first order of personal protective equipment since launch. The orders are for a range of products including gel-based hand sanitizer, liquid sanitizer and protective masks, and the company said it anticipates the orders will ship during the current fiscal quarter. 

“With the coronavirus pandemic effecting thousands of families and healthcare workers in the U.S., we remain focused on furthering the development of our PPE supply network and the Edison Nation Medical brand,” CEO Chris Ferguson said in a statement.

“I appreciate the effort our U.S. and Hong Kong based teams, as well as our feet on the ground in China, who have worked so diligently around the clock to allow us to deploy these products.”