Shares of Communications Systems Inc. (JCS) surged over 75% on Tuesday morning after the company announced merger deal with privately held Pineapple Energy, LLC.
JCS is currently trading at $9.46, up $4.11 or 76.82%, on the Nasdaq.
Communications Systems, an IoT intelligent edge products and services company, announced a definitive merger agreement with privately held Pineapple Energy, LLC, a U.S. operator and consolidator of residential solar, battery storage, and grid services solutions.
Upon closing, Communications Systems will commence doing business as Pineapple Energy, with a business model focused on the rapidly growing home solar industry. The combined company will trade on the Nasdaq under the new ticker symbol "PEGY."
The transaction is expected to close in the second quarter of 2021.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.