Lightning eMotors drops on 2021 forecast withdrawal over supply constraints

Arcimoto

17/08/2021 11:51

** Shares of EV designer and manufacturer  ZEV.N  drop 14.4%
to $8.24 premarket
    ** ZEV on Monday after market withdrew its 2021 forecast,
saying orders were pushed to 2022 amid supply chain constraints
    ** However, co added no orders were canceled, and it expects
to fulfill them in future quarters
    ** Q2 rev. of $5.9 mln beats Refinitiv IBES estimates of
$5.4 mln, helped by robust demand for co's EV vehicles
    ** EV maker Arcimoto  FUV.O  on Monday also revised its 2021
planned production output while EV battery maker Romeo Power Inc
 RMO.N  reiterated its full year revenue outlook but fell short
of Q2 rev. estimates
    ** Shares of FUV and RMO down about 13% 
    ** YTD, shares of ZEV and RMO down between 26% and 74%,
while FUV up 5.9% as of last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))