Small Cap Losers: FUV, CLSK, RMO
3:06 pm Tuesday, August 17th, 2021
Arcimoto Inc (NASDAQ: FUV) stock fell 19% after the company missed consensus for Q2 EPS and revs. Co manufactured 74 vehicles in Q2 and completed sales for 30 new and one pre-owned customer vehicle. Co adjusted its build rate in Q2 in order to avoid an extended production shutdown amid a “topsy-turvy supply chain”. Co has revised its planned main line target of production output to 425 FUV platform vehicles in 2021. At two-month lows.
CleanSpark Inc (NASDAQ: CLSK) slide 15.50% to $11.59 after the company reported Q3 results; co’s revs increased +250% yr/yr to $11.9 million. Co produced more than 191 Bitcoins in the quarter; its current hashrate capacity now exceeds 820 PH/s, and co anticipates achieving 1.0 EH/s in production capacity within the coming month. Co experienced tight battery supply in the quarter; co expects positive improvements to the overall global supply chain and continued normalization through the balance of the year.
Romeo Power Inc (NYSE: RMO) stock decreased 18.50% after the company reported results for Q2, including revs of $926,000 and cash, cash equivalents, and investments of $267.7 million. Co stated during its call that it is reaffirming FY21 revs guidance of $18-40 million, much of which is expected to be realized during Q4; co, now contracting with a Tier 1 battery cell and materials manufacturer, notes that the shape of its estimated sales curve creates operating challenges when balancing cost against preparedness. Falls to record lows.
