Buy Alert! LION Electric (LEV) Is A Stock For Long-Term Players

May 26, 2021 02:19 AM AEST | By Anuj

Buy Alert! LION Electric (LEV) Is A Stock For Long-Term Players — Image source: jittawit21,Shutterstock

Lion Electric Company (TSX:LEV/ NYSE: LEV)

The Montreal-based company manufactures zero-emission vehicles such as buses and trucks through its latest tech-driven batteries. It also assembles all its vehicles' modules, such as battery units, truck cabins, auto bodies, etc.

In the first quarter of 2021, the company delivered 24 vehicles, a massive rise from just two EVs delivered a year ago.

The company registered total revenue of US$ 6.2 million in Q1 2021, an increase of US$ 5.0 million compared to US$1.2 million in Q1 2020. However, it reported a net loss of US$ 1.8 million, up nearly 64 per cent year-over-year. The loss is mainly due to the addition of new workforce and production resource to accelerate EV volumes.

The company has entered the American EV market and is listed on the New York Stock Exchange after combining with SPAC Northern Genesis Acquisition.

Lion Electric's Listing-to-date Price Trajectory Against Volume. (Source: Refinitiv)

The EV stock jumped more than four per cent on Friday morning, May 21. It was trading five per cent up from its previous close price on Tuesday, May 25 (10 AM ET).

Please note: The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view. The reference data in this article has been partly sourced from Refinitiv.

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