The stock of Vision Marine Technologies Inc. (VMAR) gained in the current market after the company announced its partnership with Octillion Power Systems on a joint venture in a press release. The stock of VMAR is valued at around $5.17 in the current market at the time of this writing. It is a gain of more than 5.30% from the previously closed value. Previously, the stock closed at around $4.90. The volume of the stock traded in the last trading session was around 63.22K shares.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Reason for the VMAR stock gain
Vision Marine Technologies Inc. (VMAR) announced in a press release that they have partnered with Octillion Power Systems for the development of customized high voltage 35 KW high-density batteries. The high-density batteries will be specifically designed exclusively for the recreational boat market. According to the agreement the Octillion will be responsible for the production of an advanced battery system to power Vision Marine’s E-Motion outboard powertrain. The configuration and size of the battery pack are relatively small than the normal fuel tank due to which will be easier to fix in any boat.
The agreement of Vision Marine Technologies Inc. (VMAR) with Octillion is the first-ever partnership of the marine industry. The high-density batteries produced in the mutual collaboration will be able to fit in high-performance pontoons and powerboats that range between 18-20 feet. The management of Vision Marine Technologies Inc. (VMAR) is expecting a sale of 70K pontoons in 2022 alone in the US. The expected sales of outboard motors are approximately 380K.
Effect on the stock
Due to the announcement of a new partnership, the stock of Vision Marine Technologies Inc. (VMAR) surged in the current market and is expected to grow more. The investors are responding positively to the news and are taking interest in investing in its stock. Vision Marine Technologies is keen on disrupting the Marine Industry which will have a positive effect on its stock.
Conclusion
Vision Marine Technologies Inc. (VMAR) disruptive technology of EV system that is certified by the US Coast Guard will create a wave in the Marine Industry. Its stock could gain value in the future depending on sales brought by the collaborative technology.
