|Bid||10.27 x 1200|
|Ask||10.33 x 1300|
|Day's Range||10.03 - 10.42|
|52 Week Range||1.48 - 36.80|
|Beta (5Y Monthly)||2.61|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jun 09, 2021 - Jun 14, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.10|
Rosen Law Firm, a global investor rights law firm, announces it has filed a class action lawsuit on behalf of the purchasers of the securities of Arcimoto Inc. (NASDAQ: FUV), between February 14, 2018 and March 22, 2021, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Arcimoto investors under the federal securities laws.
WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Arcimoto, Inc. (NASDAQ: FUV) resulting from allegations that Arcimoto may have issued materially misleading business information to the investing public.
With the auto industry evolving at a rapid pace, it is clear to see why investors look to leading companies like Tesla (NASDAQ: TSLA), Nio (NSYE: NIO), and General Motors (NYSE: GM) which are advancing the trajectory of transportation. One company bringing a unique venture into the quickly expanding electric vehicle world is Arcimoto (NASDAQ: FUV). Founder Mark Frohnmayer, a UC Berkeley graduate with degrees in Electrical Engineering and Computer Science, left his career in the game development industry and turned his energy toward innovating a sustainable solution for the future of mobility. From what we can tell, Mark has been an early advocate of green energy and climate policy and is truly passionate about seeking a greener future for all vehicles. Arcimoto’s mission is to build small footprint, rightsized EVs that everyone can afford, combating the current trend of oversized, overpriced trucks and SUVs used for everyday commutes and errands by the average person. Mark has noted in several interviews that the vast majority of everyday trips like grocery store runs, commutes, or drive-thru pickups with only one person using large, gas-powered vehicles grossly inefficient and contributes to gridlock in cities, pollution and waste of resources. Since his initiative to find a solution in 2007, eight generations of prototypes have led to what Arcimoto feels is the answer with their electric, compact, three-wheeled, highway-safe automobiles that bring an entirely fresh take to the world of transportation. Bigger Isn’t Always Better Imagine driving an emission-intensive SUV just to grab a cup of coffee. We see this all the time, but is this practical? Not from Arcimoto’s perspective. With practicality in mind, the company envisions a new experience. Utilizing Arcimoto’s family of efficient, lightweight transportation vehicles, drivers can make this trip in style and good conscience. They are also just fun to drive, hence the name “Fun Utility Vehicle” (FUV, Arcimoto’s flagship product). Even Mark Wahlberg raves about his. The FUV features a top speed of 75 mph, a 102 city-mile range, room for everyday cargo like groceries or a gym bag, and a right-sized footprint that allows three vehicles to be parked in a single space. Taking it even further, Arcimoto is planning to develop autonomous versions of the FUV to allow even more capabilities to eliminate traffic and enhance people’s productivity. This bold vision is now being executed by the company and can lead to what Arcimoto believes to be a future with zero emissions and zero collisions from their autonomous platform. The Future is Sustainable Instead of large robust plants in select locations, Arcimoto intends to create local manufacturing plants all over the globe, boosting local economies and providing jobs, while also attempting to eliminate expensive global shipping practices that cause large amounts of pollution. To follow through with this, Arcimoto recently partnered with manufacturing expert Sandy Munro and Associates to help reach their goals of maximum efficiency and profitability with their product line. While still early in its growth, Arcimoto has recently expanded its manufacturing operation into a much larger facility, with the capability to produce around 50,000 vehicles per year. The company also partnered with DHL to deliver FUV’s from factory floors to customer homes across the country Capitalizing on Every Front The company has made sure to create a broad footprint by not focusing on just one model. The base model FUV is their entry-level product to fit most needs of the general consumer, but they are currently developing specialty models to meet niche markets head-on, adding much value amid the pandemic. Arcimoto’s Deliverator is aimed to target local and last-mile delivery services to bring their sustainability and efficiency into the prominent market that we have seen grow rapidly during the COVID-19 pandemic. The Deliverator offers designated cargo components on the back of the vehicle to safely keep drivers’ deliverables secure along their journeys. The Rapid Responder is designed to provide first responders with a more efficient solution to arrive on the scene much quicker than traditional means. Rather than use a million-dollar fire truck that is not fuel-efficient nor easy to maneuver through dense traffic, Arcimoto designed the Rapid Responder to be more practical and efficient in addition to being the first on the scene, helping those on the front lines achieve their missions quicker and more efficiently, with the goal to implement this model as a daily deployed apparatus. Summary Arcimoto is a company with a very strong drive to transform the way we view transportation and, in the process, accelerate sustainability for our cities; this is evident in their commitment to reducing emissions, a commitment that is ingrained in every aspect of the company. Arcimoto’s product provides consumers with a relatively low-cost method of environmentally-friendly transportation that meets their daily needs without the frequent, and sometimes expensive, maintenance of the usual automobile. Arcimoto is working to transform large, dense urban areas like New York, Los Angeles, and San Francisco from seas of pollution and traffic to efficient, sustainable transportation zones that provide a little more fun to drivers’ daily drives. Having seen the tremendous momentum thus far, Arcimoto is certainly one to keep an eye on in the future of mobility. See more from BenzingaClick here for options trades from BenzingaIs Fear Costing You Money?What's On The Horizon For NFTs?© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.