Volcon $VLCN stock exploded more than 30% higher on August 19, 2022, after the company disclosed it has $100 million worth of pre-orders for its Stag vehicle. However, Guerilla Stock Trading believes caution is warranted with a lower liquidity penny stock company issuing a press release stating they have $100 million of pre-production orders when the company may not have the infrastructure necessary to fulfill those orders, conceivably resulting in a high level of cancellations.
Volcon Obtains Pre-Orders that Sells Out Entire 2023 Forecast; $100M+ of Potential Revenue
On August 19, 2022, Volcon Inc. $VLCN announced that it had received over $100 million of pre-production orders for its first all-wheel drive, fully electric UTV, the Stag, powered by General Motors electric propulsion system technology.
Over 90% of the pre-production orders have come from Volcon’s domestic and international dealer network. Pre-production orders are non-binding and, if ultimately finalized, would result in more than $100 million in revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... for the company following delivery.
“Stag pre-orders have surpassed our 2023 sales forecast, with dealer demand remaining prevalent following our June 27, 2022 dealer launch. While we firmly believed we would achieve our pre-production sales targets, we have been pleasantly surprised at the pace at which we achieved our goals,” said Jordan Davis, Chief Executive Officer. “Although our current focus is squarely on our goal of finalizing development of the Stag and moving into full production by Q2 2023, we will now turn additional attention and resources towards increasing our component supply and manufacturing output.”
With an MSRP of $39,999, dealers were required to submit purchase orders directly through Volcon’s sales representatives. While pre-production orders have surpassed 2023 production targets, the company will begin planning the expansion of its supply and production capabilities in collaboration with General Motors, which may help to meet demand in 2023 and beyond. Volcon will continue to accept orders from dealers and additional consumer reservations via a waitlist.
Volcon Inc. is the first all-electric Powersports company producing high-quality off-road vehicles. Based in Round Rock, Texas, Volcon joins many major electric vehicle manufacturers near Austin, Texas, an area poised to become the world’s electric vehicle capital.
Volcon was founded with the mission to enhance the outdoor experience while reducing the industry’s environmental footprint so that adventurers and workers alike can enjoy the outdoors and preserve it for generations to come. Volcon produces all-electric, off-road vehicles designed to elevate the adventure experience and help people get things done at work and on the home front.
📺 VOLCON STAG | ALL ELECTRIC HIGH-PERFORMANCE UTV
📈 Volcon $VLCN Chart Technical Analysis
Volcon $VLCN stock is in a weak technical uptrend. Short-term indicators support a continuation of the uptrend. The stock trades at just a fraction of its IPO price because it’s considered a consumer discretionary stock. The recession caused by hyperinflation has dramatically reduced the discretionary income of most consumers.