There are now plenty of options for investors who want an electric vehicle beyond Tesla and one of those could be Envirotech Vehicles Inc (OTCMKTS:EVTV). The company is best known for its net zero emission electric vehicles which are purpose built and yesterday, Environtech saw its stock make a strong move and end up with gains of 4% for the day.
Trading Data
On Thursday, EVTV stock moved up 3.43% to $0.1867 with 341K shares, compared to its average volume of 563K shares. The stock moved within a range of $0.1785 – 0.1900 after opening trade at $0.1810.
Envirotech Vehicles : to Open State-of-the-Art Manufacturing Facility in Arkansas
In light of the gains made yesterday by the stock, it may be a good time for investors to possibly take a look at the announcement from Environtech that actually led to these gains.
The company announced that it was on the verge of establishing its very own highly advanced United States based manufacturing facility in the state of Arkansas. Environtech announced yesterday that it had inked the purchase agreement with seller and expects to begin operations at the facility at some point in the first quarter of this year.
The excitement among investors with regards to the announcement was understandable and it is now going to be interesting to see if the stock can manage to add to its gains over the coming days. It may be a good time to add the stock to your watch lists.
Key Quote
Phillip Oldridge, CEO of Envirotech Vehicles, commented, “We are excited to announce the purchase of EVTV’s first U.S.-based manufacturing facility. It has been a longstanding goal of our Company to manufacture our vehicles here in the U.S., and we are gratified to have received tremendous support from the state of Arkansas. Not only does Arkansas provide us with a robust business climate and highly capable workforce, but the facility’s proximity to all forms of transportation is also well-suited for the efficient transport of our electric trucks and vans.”
Technical Data
EVTV stock is above below 20-Day and 50-Day Moving averages of $0.19 and $0.23 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.27.
