Volcon Riding Up On Encouraging Orders For Its Electric Off-road Motorcycle
Shares of Volcon, Inc. (VLCN) are climbing more than 10% in the morning trade on Monday after the powersports company said orders for its electric off-road motorcycle has reached $1.7 million.
As of September 30, 2021, customers have made refundable deposits to reserve 708 Grunts, which if converted to a sale, would bring in revenue of $4.2 million, the company said. 277 more customers have made fully-paid orders, that could fetch revenue of about $1.7 million.
The company had commenced to carry out delivery of Grunt, which was launched in late 2020, across the U.S. and Latin America in September.
Further, the company said it plans to start rolling out of nationwide dealership network in the fourth quarter of this year.
VLCN, currently at $10.05, has traded in the range of $7.12- $15.50 in the past 52 weeks.
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