AYRO Inc (NASDAQ: AYRO) is running for the top in the market this morning, following up on the dramatic gains seen in the stock early on. While the gains are dramatic, the company hasn’t issued any news or filed anything with the SEC. Nonetheless, there’s good reason for the gains. Here’s what’s going on:
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AYRO Stock Pops As Investor Interest In EV Stocks Continues
As mentioned above, AYRO stock is flying in the market this morning, following up on the recent and dramatic gains the stock has been experiencing. While there has been no news, there’s good reason for the gains, not only in AYRO, but across the electric vehicles market as a whole.
All in all, it has to do with the fact that Joe Biden recently won the United States Presidential Election. Througout the past several years, Joe Biden has been pushing for legislation that changes the way we see clean energy and clean transportation.
At the end of the day, Biden has long been a proponent of clean energy and transportation as a way to combat climate change. So, his win is a big win for AYRO and every other company in the sector.
With Joe Biden in office AYRO and others in the EV space can look forward to tax cuts and potential grants to further research on improving their technologies. Moreover, the Biden Administration will likely provide tax cuts to consumers who purchase electric vehicles, further increasing demand, and providing yet another benefit to the company and others in the space.
AYRO In The EV Space
When compared to NIO Inc (NYSE: NIO) or Tesla Inc (NASDAQ: TSLA), AYRO is a small fish in a big pond, but it is starting to make some pretty big waves.
Recently, the company has begun aggressive efforts to sell its electric vehicles not to retail consumers, but to businesses and government agencies. As a result, investors were already expecting to see a strong uptick in revenues. Now, with Biden coming into office, the opportunity is becoming even larger.
The company’s purpose-built electric vehicles provide a solution that simply isn’t out there. As a result, there’s a strong conviction among investors that demand will take off.
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The Bottom Line
The bottom line here is simple. If you’re looking to electric vehicle stocks as a way to take advantage of the Joe Biden Presidential win, you should be taking a close look at AYRO. With the company’s purpose-built electric vehicles, it has an offering like nothing else on the market today.
Moreover, the Joe Biden Administration will likely lead to increasing demand, tax benefits, and potential grands for the comapny to take advantage of. All in all, considering the current EV industry climate, now is the time to watch AYRO stock closely.
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