Arcimoto Announces Move to Nasdaq Global Market

Rhea-AI Summary

Arcimoto, Inc. (NASDAQ: FUV) has announced its approval to list shares on The NASDAQ Global Market, effective April 12, 2021. This transition from The NASDAQ Capital Market highlights the company's significant growth in business and market capitalization. CEO Mark Frohnmayer stated that this move enhances accessibility for investors aligned with Arcimoto's mission to create sustainable transportation solutions. The company is known for developing ultra-efficient electric vehicles, including the FUV, Deliverator, and Rapid Responder, aimed at reducing the environmental impact of traditional vehicles.

Positive

• Approval to list on The NASDAQ Global Market indicates significant business growth.
• Enhanced accessibility for investors aligned with sustainability goals.

Negative

• None.

Arcimoto, Inc.® (NASDAQ: FUV), makers of affordable, practical, and joyful pure electric vehicles for everyday commuters and fleets, today announced that it has received approval from NASDAQ to begin listing its shares of common stock on The NASDAQ Global Market effective today, April 12, 2021. The move to The NASDAQ Global Market from The NASDAQ Capital Market reflects the significant growth of Arcimoto’s business and market capitalization.

“Arcimoto’s rise speaks volumes about the urgency of our mission and the importance of creating a sustainable transportation system as soon as possible,” said Mark Frohnmayer, Arcimoto Founder and CEO. “Arcimoto is building products to solve this global problem. We believe the move to The Nasdaq Global Market will make Arcimoto more accessible to investors around the world who are aligned with our mission.”

About Arcimoto, Inc.

Arcimoto (NASDAQ: FUV) develops and manufactures ultra-efficient and affordable electric vehicles to help the world shift to a sustainable transportation system. Now available to preorder customers in California, Oregon, Washington, and Florida, the Arcimoto FUV® is purpose-built for everyday driving, transforming ordinary trips into pure-electric joyrides. Available for preorder, the Deliverator® and Rapid Responder™ provide last-mile delivery and emergency response functionality, respectively, at a fraction of the cost and environmental impact of traditional gas-powered vehicles. Two additional concept prototypes built on the versatile Arcimoto platform are currently in development: the Cameo™, aimed at the film and influencer industry; and the Roadster, designed to be the ultimate on-road fun machine. Every Arcimoto vehicle is built at the Arcimoto Manufacturing Plant in Eugene, Oregon. For more information, please visit Arcimoto.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210412005918/en/

FAQ

What is the significance of Arcimoto's listing on The NASDAQ Global Market?

Arcimoto's listing on The NASDAQ Global Market reflects its substantial growth and improved market capitalization, making it more accessible to investors.

When did Arcimoto start trading on The NASDAQ Global Market?

Arcimoto began trading on The NASDAQ Global Market on April 12, 2021.

What types of electric vehicles does Arcimoto manufacture?

Arcimoto manufactures electric vehicles such as the FUV, Deliverator, and Rapid Responder, focusing on practical and sustainable transportation.

Who is the CEO of Arcimoto and what did he say about the new listing?

Mark Frohnmayer is the CEO of Arcimoto, and he remarked that the listing enhances investor access and supports their mission for sustainable transportation.

What is the stock symbol for Arcimoto?

The stock symbol for Arcimoto is FUV.