Forza X1 (NASDAQ:FRZA) stock is rocketing higher on Monday after the electric sport boats company teased exciting news was on the way.
Right after markets closed on Friday, Forza X1 sent out a tweet to its followers. It told them to “Get ready for something extraordinary” and that they’ll want to “stay tuned” so they don’t miss out on the news.
To go along with that, the company included the electric boat hashtag with its tweet. A short four-second video also shows the wake of what is likely a boat spreading across the water. It includes the text “Don’t miss the boat.”
While we don’t know exactly what Forza X1 is planning to announce, it’s safe to say it has something to do with its electric boat business. The company didn’t say when it would make any announcements, so investors will just have to hang tight until it does,
How This Is Affecting FRZA Stock Today
Forza X1’s tease of upcoming news has investors excited this morning. As a result, the company’s shares are seeing heavy trading during pre-market hours. This has some 5.2 million shares of the stock changing hands as of this writing. To put that in perspective, the company’s daily average trading volume is closer to 124,000 shares.
FRZA stock is up 145% as of Monday morning. If it can keep those gains until markets close it will erase the losses it’s seen since the start of the year.
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On the date of publication, William White 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.