Vicinity Motor Corp. (OTCMKTS:BUSXF) stock is gaining momentum on Wednesday on unusual volume.
Major Trigger:
Vicinity Motor Corp. Announces Uplisting to the Nasdaq Capital Market Under New Trading Symbol ‘VEV’
Key Highlights:
- BUSXF announced that the Nasdaq Stock Market LLC has approved the listing of the Company’s common shares on the Nasdaq Capital Market (“Nasdaq”).
- The Company expects to begin trading on the Nasdaq on Wednesday, July 7, 2021 under the symbol “VEV”. The Company’s common shares will continue to trade on the OTCQX until market close on July 6, 2021. The trading symbols for on the TSX Venture and Frankfurt exchanges will remain unchanged.
Key Quote:
“The listing of our shares on the Nasdaq represents a significant milestone for Vicinity Motor as we leverage our strong momentum to accelerate sales of our next-generation electric vehicle (EV) products,” said William Trainer, Founder and Chief Executive Officer of Vicinity Motor Corp. “We believe a Nasdaq listing will help elevate the Company’s public profile, expand our shareholder base, improve liquidity and enhance shareholder value.”
“We continue to see traction in the marketplace, delivering 20% more vehicles in the first quarter of 2021 than we did in all of 2020 combined. We believe that our growth in the future will be driven by our breakthrough Vicinity Lightning™ EV bus, as well as our new VMC 1200 Class 3 EV truck. Both of which have seen strong support from government agencies, private operators, dealers and transit authorities for the electrification of their fleets. We expect additional EV innovations we have been developing to further solidify our position as a leader in this market. VMC is well positioned for continued growth and we have the human and financial resources in place necessary to support that growth. We look forward to sharing our story with a wider network of Nasdaq investors.”
Market Reactions
As of 12:07, BUSXF stock went up by 13% at $6.62. Total volume so far stood at 30k shares, compared to its average volume of 30k shares. The stock moved within a range of $6.11 – 6.70 after opening at $6.11.
 Stock Soars After The Big News: Are You Excited?){kind=link}