Ayro (NASDAQ:AYRO) stock is gaining traction on Thursday despite a lack of news from the electric vehicle (EV) company.
The positive movement for AYRO stock comes alongside heavy trading today for the EV company. This has seen more than 18 million shares traded as of the late morning. That’s much higher than the average daily trading volume of 1.71 million shares of the stock.
With all that heavy trading, AYRO is surely catching the eye of some traders. Here’s what they need to know about the EV company.
- Ayro is the maker of purpose-built EVs.
- It’s two offerings include a light-duty work truck and a three-wheel delivery vehicle.
- The company notes that its vehicles are perfect for navigating college campuses.
- That’s due to their low noise profile and small size.
- It’s also targeting several other industries, such as hotels, as customers for its offerings.
- Ayro’s vehicles also work well for restaurants that are looking for a low-cost option for deliveries.
- That’s worth noting as the delivery business has been booming since the start of the novel coronavirus pandemic.
- The company was founded back in 2017 under the name Austin Electric Vehicles.
- The switch to the current Ayro name took place in May 2019.
- Ayro’s current market cap is sitting at $136.85 million.
- EV stocks have been getting a boost lately thanks to the presidential elections.
- With Joe Biden looking to win the election, a spotlight is being shined on green energy stocks such as AYRO.
AYRO stock was up 26.3% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.