Extreme Vehicle Battery (CSE:ACDC): Time To Buy This EV Stock?

2 min read | March 08, 2021 09:36 AM EST | By Anuj

Extreme Vehicle Battery (CSE:ACDC): Time To Buy This EV Stock?

Extreme Vehicle Battery Technologies Corp (CSE: ACDC)

The Vancouver-based tech firm is developing futuristic products for the EV market. The stock has been making a buzz at Bay Street with a fabulous one-year return of 12,380 per cent.

It has yielded an eye-popping growth of over 1,055 per cent year-to-date (YTD), outpermoing the Toronto Stock Exchange 300 Composite Index’s 996 per cent returns this year.

The stock plunged to its 52-week low of C$ 0.0008 on March 26, 2020, due to the COVID-19 outbreak. It has a current share price of C$ o.52 per common share, up 64,900 per cent from the COVID-led low.

This penny stock has a market cap of C$ 185.51 million and an average 30-day volume of 10.52 million. It hit a 52-week high price of C$ 0.950 per share a month ago, representing a plunge of 45 per cent month-over-month (MoM).

The software player believes its entrance to the recreational vehicle market through its latest product, RV Freedom TM, would support its growth.

The RV market was valued at US$ 51 billion in 2019 and is expected to touch US$ 77 billion by 2026, as per its exchange filing.

EV Battery Tech's One Year Stock Performance Chart. (Source: EODHD/Others)

In the clean energy segment, the company introduced Titan EnergyCore TM, Energy Storage System, on January 28, 2021. This system has been designed to power an entire city or an industrial facility.

Earlier, on January 6, the tech firm announced its Home Smart WallTM app, that estimates to outperform Tesla's Powerwall, as per the company’s statement. This exclusive product would help enterprises to handle their battery-power systems remotely, stated Bryson Goodwin, CEO, EV Battery Tech.

Extreme Vehicle has carved a niche for itself in the expanding EV/RV market and is poised to grow.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001 and is available for personal and non-commercial use only. The advice given by Kalkine Media through its Content is general information only and it does not take into account the user’s personal investment objectives, financial situation and specific needs. Users should make their own enquiries about any investment and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media is not registered as an investment adviser in Canada under either the provincial or territorial Securities Acts. Some of the Content on this website may be sponsored/non-sponsored, as applicable, however, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used in the Content unless stated otherwise. The images/music that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.