Last Friday the VaporBrands International Inc (OTCMKTS:VAPR) stock experienced a bit of a selloff and ended the day with a decline of as much as 4% as a consequence.
Market Reaction
On Friday, VAPR stock fell .17% to $0.0230 with more than 935K shares, compared to its average volume of 781K shares. The stock moved within a range of $0.0192 – 0.0249 after opening trade at $0.0192.
(VAPR) E-Cite Motors Unveils its New Modular EV Chassis for Electric Vehicles
The company, which is regarded as an innovator in the electric vehicle manufacturing space, announced last Thursday that it had been successful in completing the assembly and development of the modular chassis that is going to be deployed at the base of the new electric vehicles that it is developing. One of the more important aspects of the chassis is the fact that it can be adjusted to make it suitable for a range of wheelbases and hence could fit a number of vehicles.
Gene Langmesser, who is the Chief Operating Officer of the VaporBrands, spoke about the development as well. He noted that the development of the chassis was a major milestone since it market the point at this the company moved from the theoretical concept of the chassis to the actual thing.
However, he went on to add the many of the mechanics related components are still being added to the chassis. The company will be focussed on the development of the final design of the body.
Key Quote
COO Gene Langmesser commented: “Now that we have a fully designed chassis that can be assembled to suit a variety of vehicles we have moved from the theoretical design and engineering phase to physically building our first prototype. While the mechanical components are being installed, we will focus on solidifying the final design of the body, interior, and other integrated components.”
Traders Review
VAPR stock is trading above 50-Day and 200-Day Moving averages of $0.0185 and $0.0135 respectively. Moreover, the stock is trading below the 20-Day moving average of $0.0236.
