Alternet Systems Inc (OTCMKTS:ALYI) may have intrigued investors in a big way due to its plans with regards to the electric vehicle market but over the past week, the stock has not performed well.
During the period, the Alternet stock went down by as much as 10% and in this situation, it might be a good idea for investors to take a closer look at the recent developments at the company. The company is working on an electric motorcycle project and recently announced that it has targeted revenues of as much as $2 million in 2021 from the sale of those motorcycles.
In this regard, it should be noted that Alternet is also looking to pursue a range of other opportunities in an electric vehicle market that is worth a staggering $200 billion. At this point in time, many companies are working on producing electric cars, pickup trucks and other popular vehicles.
However, Alternet is looking to carve a niche in those variants of vehicles for which the market is not as a competitive at this point and hence, presents an opportunity to crack a much larger market share. Despite the fall in the stock price, it is a company that investors could consider tracking closely.