While Many Stocks Are Down, Arcimoto Inc (FUV) Looks Promising – Invest Chronicle
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While Many Stocks Are Down, Arcimoto Inc (FUV) Looks Promising

The performance of ArcimotoInc (FUV) over the past year has been positive. The stock has gone up by 405.07%. In the past six months, while the stock’s performance has seen it rise by 1785.80% over the past year. In the last month, FUV’s performance has grown by 136.25%, with quarterly performance currently standing at 456.20%. Figures for the weekly performance now show 47.41%.

For the day’s trading, Arcimoto Inc. finished the last session down -13.04% at $31.87. A total of 3,94 million shares were traded at that time, and 3,60 million shares are now trading daily. The 52-week high and low prices of stocks are important to consider when assessing a stock’s future price. Arcimoto Inc. (FUV) shares are currently -13.40% lower than their 52-week high mark and 3198.83% higher than their 52-week low mark.

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Due to positive investor sentiment about the prospects for vehicles taken by recreational motorists and used for special duties, like patrolling parks, The Stocks have increased significantly since November 2020.

ArcimotoInc (FUV) announced earlier this year that plans were in place to acquire a new manufacturing facility in Oregon, USA. The deal is scheduled to close at the end of March, allowing the company to increase its production capacity rapidly. The company’s positive strategy of growing sales sends a positive signal. Arcimoto’s new plant is five times more capable than the company’s existing production capability.

For approximately $ 10 million, Arcimoto acquired the Tilting Motor Works business that makes tilt control technology for tricycles in late January.

Despite strong competition from several producers, ArcimotoInc (FUV) expects to increase sales, even though it competes in various categories, including electric and light petrol vehicles. Arcimoto’s provides many benefits, including a compact 3-wheeler model for last-mile delivery services. Strengthening a company’s position in niches within the market can lead to a certain amount of sales growth.

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