Shares of Volcon, Inc. (VLCN) are rallying more than 50% Friday morning, after the electric powersports company said it received more than $100 million pre-orders for its fully electric UTV, the Stag.
“Stag pre-orders have surpassed our 2023 sales forecast, with dealer demand remaining prevalent following our June 27, 2022 dealer launch,” said Jordan Davis, Chief Executive Officer.
Volcon said it plans to expand supply and production capabilities by teaming up with General Motors to meet demand in 2023 and beyond. Stag is powered by General Motors electric propulsion system.
VLCN is at $2.76 currently. It has traded in the range of $0.9500-$17.9600 in the past 52 weeks.
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