I saw this pop up on the most active nasdaq tickers today with some pretty serious volume so i decided to look into it.
EV powersports company with 2 ev dirt bikes and the UTV named the Volcon Stag.
They have a partnership where GM will be providing the EV powertrain for the UTV.
GM, Volcon strike deal for off-road electric vehicle powertrains.
Looks like a pretty cool company and i’m more interested knowing that it has a GM powertrain. I have a decent amount of experience working with EV’s and GM has done a pretty good job with the tech. Everything has its issues but the Volt lithium ion batteries with the self balancing modules is a pretty solid idea. If they could just get it to stop leaking coolant that mf would last forever. We’re not going to mention the bolt fires rn… Also the Hummer, thats another discussion, but the Volt! It was pretty slick.
Moving on, the reason for the volume today is they had a press release saying they sold out of 2023 preorders at 100m+ revenue
https://www.yahoo.com/entertainment/volcon-obtains-pre-orders-sells-131300184.html
Note that it’s only $100 to reserve one and they’re 40k so we’ll see how that plays out.
One other thing is they have a fairly small amount of shares outstanding and their market cap is half of the preorders
Looks like the people working for the company are on board
For a little more data here’s a link to their investor relations page and their investor presentation.
So this is about how far i’ve looked into it. I think the UTV market is killer. Honestly i didn’t think the UTV market would get as big as it has but people love them. EV’s are cool, i’m going to do some digging on other companies that are doing this as well. I have not purchased yet but i’m probably going to, ill watch for a bit. No options so it’ll be a little boring but i don’t see much downside.
