Why Arcimoto's Stock Is Trading Lower Today

Arcimoto FUV shares are trading lower on Thursday, after the company announced a 2.667 million share common stock offering at $3 per share.

Arcimoto is engaged in the business of manufacturing ultra-efficient three-wheeled electric vehicles. The company's product includes - Fun Utility Vehicle (FUV), a pure electric solution that is a quarter of the weight, takes up a third of the parking space, and is more efficient than the average car.

Its only operating segment being the design, development, manufacturing, and sales of electric vehicles. Geographically, it operates only in the United States.

Arcimoto shares were trading down 9.94% at $3.12 on Thursday. The stock has a 52-week high of $4.48 and a 52-week low of 97 cents.