Arcimoto slides on smaller Q2 revenue than expected

Arcimoto

16/08/2021 22:45

** Shares of electric vehicle maker  FUV.O  down ~16% at
$11.8 after the bell following Q2 results  urn:newsml:reuters.com:*:nBw7YzCLba
    ** Co posted revenue of $717,000, far below est $2.1 mln -
Refinitiv IBES
    ** On a per share basis, Q2 net loss was about 23 cents vs a
net loss of about 15 cents a year earlier 
    ** Co manufactured 74 vehicles in Q2; completed sales for 30
new vehicles
    ** Co revised its 2021 planned main line target output to
425 FUV platform vehicles due to supply chain constraints 
    ** Shares up ~5.9% YTD as of Monday's close

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))