VLCN Stock: Why The Price Surged

By Amit Chowdhry ● Oct 26, 2021
  • The stock price of Volcon Inc (NASDAQ: VLCN) increased by 19.46% yesterday. This is why it happened.

The stock price of Volcon Inc (NASDAQ: VLCN) – the first all-electric and off-road powersports company – increased by 19.46% yesterday. Investors are responding positively to Volcon announcing that it has expanded into Mexico, Costa Rica and Paraguay to meet customer demand. Volcon vehicles and accessories will be sold globally in a planned three-phase rollout to include Latin America in 2021, Canada, Europe, and Africa in 2022, Southeast Asia, and Australia in 2023.

The export sales are executed with individual importers in each country that buy vehicles by the container and then sell them to local dealers or direct to consumers. And local dealers will provide warranty and repair services for vehicles purchased in their country.

The Volcon electric vehicles are the alternative to gas-powered combustion off-road vehicles and allow for environmentally friendly backcountry exploration that is unparalleled. And the Grunt, Volcon’s first two-wheeled, fat tire all-electric, off-road motorcycle, is currently shipping to customers around the world. And with a low seat height of 32 inches and a low-slung center of gravity, the Grunt is accessible to anyone who has ridden a bicycle, with no motorcycle experience required to enjoy.

Along with the Grunt, the company will continue developing the Runt, which is a child-friendly, smaller-sized companion to the Grunt, as well as the Stag and the Beast – their four-wheeled, side-by-side UTV models.

KEY QUOTE:

“We’ve received strong interest from all over the world due to our vehicles’ ability to explore the outdoors in an eco-friendly fashion, easily navigate challenging backroads, or take family-friendly off-road adventures. These advantages make our vehicles a great fit for the rough and rugged terrain of Latin America. The Latin American countries are hungry for electric mobility and we are proud to be currently exporting our vehicles to our friends in those countries. We believe Latin America and our future international expansion plans will quickly become a large percentage of our annual sales growth and at the same time, expose the Volcon brand to the world.”

— Jordan Davis, Chief Executive Officer at Volcon

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.