EVmo Inc (OTCMKTS:YAYO), which is involved is a leading operator in the vehicle providing space for delivery gigs and rideshare industries, saw its stock have a pretty hard time in the market over the past week. During the course of that period, the stock suffered from a selloff and tanked by as much as 7%.
Trading Data
On Wednesday, YAYO stock slid by 1.40% to $0.62 with more than 70k shares, compared to its average volume of 208k shares. The stock has moved within a range of $0.5900 – 0.6388 after opening trade at $0.6050.
EVmo Partners with University of Southern California to Provide On-Campus Fleet Access
Despite the performance of the stock, it should be noted that the company was in the news yesterday after it announced that it had inked an agreement with the University of Southern California with regards to providing access to its rental vehicle fleet inside the university campus.
It goes without saying that it is a significant development for EVmo, considering the fact that if the initiative proves to be successful then other universities may decide to go for a similar deal as well. The vehicles are going to be provided by the company through the Grand Avenue parking garage that is owned by the University of Southern California. The partnership in question is going to be launched in January of 2022 and it remains to be seen if the EVmo stock can manage to make a recovery in the coming days.
Key Quote
“This is a fantastic opportunity for EVmo to provide convenient access to our fleet as we continue to expand our services to meet the growing demands of the gig economy,” stated Stephen Sanchez, CEO of EVmo. “While dedicated staff will be onsite to keep vehicles fully charged and ready for use, the entire rental process can be seamlessly completed from our mobile app.”
Technical Data
YAYO stock is trading below the 20-Day and 50-Day Moving averages of $0.75 and $0.95 respectively. Moreover, the stock is trading below the 200-Day moving average of $2. The stock is down 39% in the past month.
