Ayro (AYRO) the purpose built electric vehicle company is expected to surge, their truck is the main gem here with little competition at them moment since no other EV company is currently producing EVs that can be used as company vehicles.
AYRO company recently merged with DropCar and changed the ticket name to AYRO. DropCar has hit $6 3 times in the past few months due to anticipated news updates. It could very well surpass that within the next week with all the hype currently around electric vehicles (EVs).
From this acquisition AYRO received the following vehicle support, fleet logistics and concierge services for both consumers and the automotive industry to Spencer Richardson and David Newman, who currently serve as Chief Executive Officer of DropCar and Chief Business Development Officer of DropCar, respectively.
They had a direct bid at $2.55 recently that has since expired last week. The stock price has risen to $3 as more people find out about this and see how much promise it holds. Actually the main holders of this stock are Alpha Capital with a whopping 700k shares or $2,100,000.
The majority of the larger owners are business insiders, this is a positive sign because it indicates that large institutional investors and people inside the company are behind this product.
The latest drive was very wild and all of this is before any news got released! If this company were to drop an announcement this week this stock not only gets more exposure it deserves but also leads to an simple trigger.
I see this as a possible swing play or a longer term hold. I expect the short term price target to easily reach $4 by Friday with it reaching a minimum of $10+ in the coming months ahead. The lack of publicity this stock has been getting is disappointing but soon that will change as this business continues to expand.
So, what are the catalysts for Ayro (AYRO) stock?
That’s a good question, here are some possible catalysts that may propel the stock price of AYRO;
- The company plans to expand into Europe in Q3, we know the EV market in Europe has not been tapped into yet as most companies are based and distributes in US.
- Amazon pledged $2 billion to invest in companies reducing carbon footprint which AYRO qualifies for, a stake by Amazon would be huge.
- The company has already landed multiple contracts with North American universities, governments and commercial delivery companies. I predict more of these will come as the expand and gain traction with high exposure.
- AYRO is aiming to be acquired by one of the big players (Tesla)
- AYRO already has new partnerships with Club Car (Ingersoll Rand) & Ford Motors.
- California wants all cars to be electric by 2024, this will force companies to replace their utility vehicles to fit this policy and AYRO is the only one producing these.
- Manufacturing plant located in Texas is in close proximity to Tesla’s new plant, may provide a partnership with Tesla. Tesla can then outsource to AYRO or increase chance of acquisition.
Is Ayro (AYRO) stock a worthy investment?
Shares of Ayro (AYRO) appear to be a very good investment option, the Money Midnight Indicator is expecting its price to rise considerably in the next several months. The majority of the metrics point to this investment being highly attractive.
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