EV Maker Volcon's Stock Jumps - What's Going On?

Volcon, Inc. VLCN shares are trading higher on Thursday.

The rebound comes after a huge dip of 100% in the last one year.

Yesterday, the company’s chief executive, John Kim, said that the company delivered its first production vehicle Volcon Stag to the U.S. Army Corps of Engineers, where it will be evaluated for military and humanitarian aid purposes.

The delivery follows the successful launch of the Volcon Stag, which is the fastest-production electric UTV on the market. 

This first vehicle is part of a larger order of units that will be delivered to them over the coming months for further testing.

In the coming months, the CEO said that Volcon will continue to ramp up Stag production and sales, while continuing to deliver the line of electric motorcycles to customers in the U.S. and abroad.

On the two-wheeled side of the business, the CEO said that the company’s Grunt EVO motorcycles are in full production.

“We are currently delivering motorcycles to dealers all around the US and also shipping them to our international distributors,” Kim added.

Earlier this month, Volcon appointed John Kim as its Chief Executive Officer. Kim has served on Volcon’s Board as an independent director since July 2021.

Price Action: VLCN shares are trading higher by 36.36% to $1.65 on the last check Thursday.

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