 "Ayro Gets Retail Buzzing After Becoming Tier-One Supplier For GM")
synopsis
On Stocktwits, retail message volume for Ayro surged over 2900% on Thursday.
Shares of Ayro Inc., an electric fleet solutions provider, rose over 5% in premarket trading Friday following a sharp drop in the previous session.
Premarket trading volume was 2.4 times the daily average, indicating heightened investor interest.
The company announced late Thursday that it has been named a tier-one supplier for General Motors (GM) through its collaboration with GLV Ventures.
Ayro and GLV aim to support GM’s manufacturing and engineering efforts under their expanded partnership, though financial specifics were not disclosed.
Josh Silverman, Ayro’s Executive Chairman, stated, “We believe that our new collaboration with GLV could lead to additional opportunities with other key manufacturers, such as GM, with the potential for new revenue-generating purchase orders.”
On Stocktwits, message volume for Ayro surged over 2900% on Thursday, and sentiment turned ‘extremely bullish’ before the bell on Friday, underscoring strong retail enthusiasm.
Earlier this year, Ayro gained attention after receiving its first U.S. government order for its low-speed electric utility vehicle, the AYRO Vanish, intended for a U.S. Embassy in South Asia.
Despite Friday’s gains, Ayro shares have lost 62.21% year-to-date, reflecting challenges the company has faced in the broader EV and fleet solution markets.
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