VMC - Dually-Listed Bus Manufacturer Steals The Spotlight

2023-07-20 15:05:44 ET

A dually-listed micro cap within the %BusManufacturing space is absolutely stealing the show on Thursday after the company announced a strategic collaboration with Lafarge Canada, Canada's largest provider of sustainable and innovative building materials, to electrify Lafarge's truck fleet and reduce their carbon footprint, according to the press release.

This sent shares of %VicinityMotor (TSX: ) (Nasdaq: ) soaring on Thursday, with shares trading on the Canadian side reaching $1.35/share (+14.41%). This move might just be the breakout needed to get the stock out of its multi-month trading range.

Vicinity Motor Corp. is a Canadian bus manufacturer. The company is engaged in designing, engineering and manufacturing mid-size buses for transit authorities and commercial enterprises. The company along with its dealers also supplies full aftermarket support for Vicinity buses operating in North America. It delivers across Canada and the continental U.S. through its strategically located distribution centers. The company generates a majority of its revenue from the bus sales.