REE Automotive Ltd. REE shares are trading higher on Monday after the company announced it selected Roush Industries to assemble REE’s P7 vehicles at Roush’s Detroit-area factory, which has an annual capacity of up to 5,000 vehicles.
The Details: Assembly of the P7 electric trucks will begin in the 2024 fourth quarter. The vehicles feature a flat vehicle base that offers up to 35% more space for cargo, passengers and batteries. In addition, the truck has the industry’s lowest step-in height.
“We chose to work with Roush because of their proven capabilities and expertise in the commercial EV market, their capacity to scale production, and their understanding of our unique business model, which is to build our vehicles to order, not for inventory,” said Josh Tech, COO of REE.
“We want to get our trucks in the hands of our customers as soon as possible, while not sacrificing on quality, making sure our customers can count on us as they build their electric commercial fleets. By partnering with Roush, we can concentrate on our core technology and production of the REEcorners while optimizing production costs and reducing go to market times benefiting from their nearly 40-year track record of engineering and manufacturing spans from NASCAR, to lunar terrain vehicles, to the most innovative EVs.”
How To Buy REE Automotive Shares
By now you're likely curious about how to participate in the market for REE Automotive REE – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of REE Automotive REE, which is trading at $6.15 as of publishing time, $100 would buy you 16.26 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
REE Price Action: At the time of writing, REE Automotive stock is trading 4.86% lower at $6.04 per data from Benzinga Pro.
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