Today, one of the stocks that’s absolutely taken of is that of Volcon (NASDAQ:VLCN). Currently, shares of VLCN stock are up more than 125% at the time of writing on a very strong start to trading.
This move comes as VLCN stock sees its first day of public trading today. The all-electric powersports company has seen incredible interest for its product line of late. As consumers switch their focus to electric-powered everything, powersports equipment is one sector that’s been late to the game in transforming. However, Volcon provides investors with an intriguing niche case to invest in today.
Indeed, investor interest in this initial public offering (IPO) was significant. Volcon announced yesterday that the company would be pricing its IPO at the top end of its range on the back of this interest. The company announced an IPO price of $5.50 per share, which was easily surpassed in early trading.
Let’s take a look at what investors may want to know about Volcon.
What to Know About VLCN Stock
- Volcon touts itself as the first all-electric off-road powersports company.
- Accordingly, the company sells a range of side-by-side, UTVs and motorcycles with electric engines.
- The company sold more than 3 million shares at its IPO at $5.50 apiece.
- Accordingly, the company raised more than $16.6 million as a result of this IPO.
- Shares opened well above the $5.50 level, above $9 per share.
- Today’s trading range was extremely wide, with shares of VLCN stock trading between $7.12 per share and $15.50 per share, nearly triple its IPO price.
- Aegis Capital was the lone underwriter of this deal.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.