Welcome to our dedicated page for Volcon news (Ticker: VLCN), a resource for investors and traders seeking the latest updates and insights on Volcon stock.
Volcon, Inc. (NASDAQ: VLCN) is pioneering the future of off-road powersports with its all-electric vehicles. Based in Austin, Texas, Volcon designs and manufactures electric two-wheel and four-wheel motorcycles and utility terrain vehicles (UTVs) aimed at revolutionizing off-road adventuring. The company’s innovative product lineup includes the Grunt EVO, an enhanced version of the original Grunt, the Brat e-bike, and the Volcon Youth Motorcycle line, catering to younger riders. The company's flagship UTV, the Stag, offers a unique and silent off-road experience, targeting both the recreational and professional sectors.
Volcon's commitment to sustainability and innovation sets it apart as the first company in its sector to focus exclusively on electric vehicles, thus providing an eco-friendly alternative to traditional gas-powered options. The Grunt EVO, launched in October 2023, boasts a belt drive, improved suspension, and an upgraded seat. Meanwhile, the Brat e-bike, suitable for both on-road and off-road adventures, is making waves across North America.
In recent operational updates, Volcon announced a significant sales growth during the holiday season, attributed to strategic holiday promotions and consistent production improvements. The company also marked a milestone by expanding its product reach into New Zealand, indicating its growing global footprint.
However, Volcon has faced challenges, particularly with the Stag model, encountering supply chain issues. The company remains dedicated to resolving these issues to maintain the highest standards of quality and safety. Despite these hurdles, Volcon continues to deliver, with a recent milestone being the first delivery of the Stag to the United States Army Corp of Engineers for testing under a Cooperative Research and Development Agreement (CRADA).
Financially, Volcon has experienced fluctuations, including stock splits to manage its share count and investor equity. The company recently executed a 1-for-45 reverse stock split and a subsequent 1-for-100 reverse stock split to consolidate shares, aiming to stabilize its market position. Despite these financial adjustments, Volcon's focus remains on expanding its dealership network, now covering 28 states with 105 dealers, and enhancing its product lineup to meet the growing demands of off-road enthusiasts.
Volcon’s leadership, under the helm of CEO John Kim, is strategically aligned with the company's mission to lead in the off-road EV market. Kim brings a personal passion for off-road vehicles, which translates into the company’s robust marketing strategy and product development.
To stay updated on Volcon's latest developments and product offerings, follow them on social media platforms like YouTube, Facebook, Instagram, and LinkedIn, or visit their website at www.volcon.com.
Volcon (NASDAQ:VLCN) announced a 1-for-8 reverse stock split effective November 8, 2024. The company's common stock will trade on Nasdaq Capital Market under the same ticker 'VLCN' but with a new CUSIP number starting November 11, 2024. The split will reduce outstanding shares from approximately 4.49 million to 0.56 million, while authorized shares remain at 250 million. Fractional shares will be rounded up to the nearest whole number, and the nominal par value remains $0.00001 per share.
Volcon ePowersports (NASDAQ: VLCN) has released a company update video featuring CEO John Kim. The video provides information about Volcon's latest product lineup, specifically focusing on updates to their UTV (Utility Task Vehicle) product roadmap. This announcement aims to keep investors and stakeholders informed about the company's current developments in the electric powersports industry. Interested parties can access the full update video through a provided link. For additional information or media inquiries, Volcon has made their media contact email available.
Volcon ePowersports (NASDAQ: VLCN) has announced that CEO John Kim has released a video update addressing recent company developments. The full update can be viewed via a provided link. The company encourages stakeholders to stay tuned for further updates and directs media inquiries to media@volcon.com.
Volcon Inc. (NASDAQ:VLCN) has announced the launch and first production run of the HF1 Electric UTV, a three-person single row vehicle combining cutting-edge technology with rugged performance. The production has started one full quarter ahead of schedule, with the first 27 units ready to ship this week. The HF1 features a 350-volt automotive electric system with a high power battery pack that has received UN 38.3 Certification.
Key features of the HF1 include:
- Electric drivetrain with speeds up to 60 mph and a range of up to 60 miles
- 17.5 kWh battery system with quick recharge times
- Advanced suspension system and all-wheel drive capabilities
- 13-inch LCD display with backup camera and bluetooth compatibility
- GPS tracking and mobile connectivity
The HF1 is designed for versatility, suitable for recreational use, commercial tasks, and agricultural applications.
Volcon Inc. (NASDAQ:VLCN) has signed a distribution agreement with a prominent Japanese vehicle distributor, Pista Enterprises, G.K., to introduce its popular Brat electric bike with unique café racer options to the Japanese market. The Brat is expected to be available for sale during the 2024 holiday season, pending certification with the Japanese government.
This collaboration marks a significant milestone in Volcon's expansion strategy, targeting Japan's rapidly evolving electric vehicle market. The Brat, known for its versatility, performance, and sustainability, will feature a café racer configuration, blending vintage aesthetics with modern technology to appeal to urban commuters and adventure enthusiasts in Japan.
Volcon Inc. (NASDAQ:VLCN), an all-electric off-road powersports company, reported its Q2 2024 operational and financial results. Key highlights include:
1. Regained Nasdaq compliance on July 17, 2024
2. Raised $12 million in July 2024 from an equity offering
3. Delivered three additional Stags to the Army Corps
4. Signed agreements for new Grunt EVO and UTV models
5. Appointed Adrian Solgaard as a new independent board member
Financial results:
- Revenue: $0.9 million (Q2 2024) vs $1.0 million (Q1 2024)
- Gross Margin: -$2.2 million
- Net loss: $0.6 million
- Adjusted EBITDA loss: $5.1 million
The company is focusing on reducing costs and streamlining product development through partnerships with manufacturers.
Volcon Inc. (NASDAQ:VLCN), the pioneering all-electric off-road powersports company, has released a 6-month CEO update video on its website. The video, available on YouTube, provides insights into the company's progress over the past half-year. As the first company in its sector to focus exclusively on electric vehicles for off-road use, Volcon's update is likely to be of significant interest to investors and industry watchers alike.
While specific details of the update are not provided in the press release, the video is expected to cover key developments, potential challenges, and future plans for the company. This transparency in communication is often viewed positively by shareholders and could potentially impact the stock's performance.
Volcon Inc. (NASDAQ:VLCN), the pioneering all-electric, off-road powersports company, has regained compliance with Nasdaq's listing rules. This announcement comes following a notification from Nasdaq's Hearing Panel. The company's compliance status is subject to a Nasdaq Discretionary Panel Monitor for one year. This development is important for Volcon, as it ensures the company's continued presence on the Nasdaq stock exchange, providing stability and maintaining investor confidence in the electric vehicle manufacturer.
Volcon (NASDAQ: VLCN), the first all-electric off-road powersports company, announced the closing of a $12 million registered direct offering priced at-the-market. The offering included the sale of 3,287,671 shares of common stock and/or pre-funded warrants at $3.65 per share. The total gross proceeds were approximately $12 million. The offering closed on July 12, 2024, with Aegis Capital Corp. serving as the exclusive placement agent. The proceeds will be partially used to repay $2.94 million in principal on notes issued on May 22, 2024. Additionally, all Series A convertible preferred stock has been converted to common stock, leaving no convertible debt or preferred stock outstanding and less than $40,000 in debt remaining.
Volcon (NASDAQ: VLCN), the first all-electric, off-road powersports company, announced a $12 million registered direct offering of 3,287,671 shares of common stock and/or pre-funded warrants priced at $3.65 per share. The transaction is expected to close on July 12, 2024, subject to customary conditions. The offering's proceeds will be partly used to repay $2.94 million of principal on notes issued on May 22, 2024. Following the offering, Volcon will have no convertible debt or preferred stock and less than $40,000 in outstanding debt. The shares were registered with the SEC under Form S-3, effective March 21, 2023.
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