Sam is a trader and one of our lead stock analysts at AskTraders. After starting his career predominantly in the forex markets, Sam now focuses on gold and stocks with a preference for macroeconomic analysis.
Shares of designer and manufacturer of light-duty, short-haul, and last-mile delivery electric vehicles, AYRO (NASDAQ: AYRO) are rising premarket after the company received an initial purchase order valued at $2 million.
The order follows the 2022 Club Car Current launch, the next generation of the Club Car 411.
AYRO said the “purchase order signals the strong, and immediate, demand for the Club Car Current as business sustainability goals and EV adoption increase.”
The Club Car Current is deemed road safe by the U.S. Department of Transportation and certified under California’s California Air Resource Board (CARB) Certification Program with “cleanest” scores for global warming and air quality of zero-emission vehicles.
Karma Automotive will assemble the Club Car Current at its Innovation and Customization Center in Moreno Valley, California, as part of its strategic partnership with AYRO.
“Club Car has been a strong partner for getting our light-duty, low-speed EVs to customers that need them, and this purchase order is a great example of our successful collaboration,” said Rod Keller, CEO of AYRO.
AYRO's share price is up 3.05% premarket at $5.75, adding to its recent gains.
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It's a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .