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Arcimoto, Inc. (FUV)

NasdaqGM - NasdaqGM Real-time price. Currency in USD
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1.3100-0.0700 (-5.07%)
As of 11:01AM EDT. Market open.

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  • D
    Dale
    Need to lower the selling price. Get the price down to around 8k and the volume will go way up.
  • D
    Darksky
    Wow
    The price is very low, but I cannot convince myself to buy anymore

    Seems like I was much happier when I was buying in 10s and 8s and 5s.

    And that speak volume on how the trust of retail investors has been eroded

    I would like to see if anyone has bought sub 2 really?
  • J
    Justsaying...
    Anonymous, you win, the company has heard people like you. Congrats for being prescient.
  • S
    Sight 2020
    Arcimoto Announces Strategic Restructuring Plan
    Arcimoto will focus on immediate revenue-driving programs such as FUV consumer sales, Deliverator fleet sales, and rentals in key markets, with an anticipated 32 percent reduction in payroll expense
    September 29, 2022 13:00 ET | Source: Arcimoto

    EUGENE, Ore., Sept. 29, 2022 (GLOBE NEWSWIRE) -- Arcimoto, Inc.® (NASDAQ: FUV), makers of rightsized, ultra-efficient electric vehicles for moving people and stuff, today announced a strategic restructuring with the goal to focus operations on immediate revenue-driving programs such as FUV consumer sales, Deliverator fleet sales, and rentals in key markets. As a result, the Company anticipates a 32 percent reduction in payroll expenses, through a combination of temporary furloughs and permanent workforce reductions and is reducing operational expenses through budget realignment across the company. The plan is designed to support the company’s growth and profitability objectives and improve its operating margin.

    “Today’s cost restructuring is a direct response to the macroeconomic environment conditions and supply chain issues we are facing, requiring us to be more disciplined and laser focused on the areas of our business that are most critical to achieving profitability,” said Interim CEO Jesse Fittipaldi. “Operating with greater efficiency and focusing on the parts of our business that are most critical to achieving profitability will allow us to deliver more vehicles to happy customers. We do not take these actions lightly; we love our Team, but these difficult steps are necessary in order to maximize our current resources, reduce operating expenses across the board, and generate increased value for our shareholders.”

    Some long-term projects have been put on hold for the immediate future. This will allow the Company to focus on improvements to the FUV, Deliverator, and Flatbed, the core products that are driving consumer sales and rentals, as well as fleet sales, respectively.

    For the latest company updates, check out our Q2 Stakeholder Webinar. Follow Arcimoto on YouTube, Facebook, Instagram, Twitter, TikTok, and LinkedIn. Investor information about the company, including press releases, stakeholder webcast replays, and more can be found at http://arcimoto.com/ir.
  • A
    Armen
    It was inevitable. There were too many experiments going on. I remember sandy munro getting interviewed at their event earlier this year. He seemed excited about the prospects of arcimoto scaling up production. But he made a telling observation, something to the effect of “Marc is a great leader, lots of great ideas sometimes too many (uncomfortable chuckle) and they need to focus.”

    I think the experienced industry folks brought in and the new investors are giving Jesse space to deal with this. Good luck to them (and to us sufferin’ believers)
  • R
    Roger
    The problem they have is Mark wasted money by moving into a giant facility..... now they need higher volume to break even and he did all this without ever showing that this would actually sell in large volumes.

    Just because you can “RAMP UP” doesn’t mean people will buy it for what they are asking for it.

    They have a massive DEMAND problem......

    Going to zero.
  • W
    Warburg
    At this point, my worst investment ever!
  • w
    whodidntante
    They have been emphatically stubborn about shipping the vehicles to paying customers. They had thousands of pre-orders and never attempted to put them on a DHL truck and ship them to paying customers.

    They never landed (and delivered) a multi-vehicle order. In this country, they couldn't find a single company/campus or individual who wanted to buy 2 or 3? No one in the entire country who woulda taken one of each (FUV, deliverator, responder)? Feels like they had their mind made up that they wouldn't engage in that manner... not sure why... pride, ego, and bad excuses to not land any deals to reserve/deliver... just about every other EV company has had an announcement about an order or deal... but not Arcimoto...

    Best they can do is a limited trial... when that trial is up, the customer walks away (doesn't even keep a token vehicle)? Who (from Arcimoto) negotiates those (losing for both parties) deals??
  • K
    Kinksfan
    I want to buy a flatbed, but on the website I can only pre-order. The FUV is the only model I can order now. Not a demand prob for me. So today I bought a little more $FUV. I went through FUD in $TSLA a few years ago, but it was well worth it to hold. I still have a 1996 Solectria Force EV , so I'm a believer. And I lived in Eugene for 25 years. In Mark's jogging to the ramp video, he stopped to talk in front of my old house. Looks like Mark lives on same street. Just gotta hold.
  • T
    The Blue Fisherman
    Nothing like starting the week with a new 52 week low . . .
  • R
    Roger
    Sometimes you should cut your losses and move money to a stock with better long term returns. This is why the average retail investor underperforms the market.....

    At the end of the day it’s about making money. So many better stocks to put money in at this point.
  • T
    The Blue Fisherman
    Another day, another 52 week low.
  • F
    Fred
    So restructuring is needed but departing workers will sell what little they have in vested shares. More selling and stock option dilution probably coming.
  • F
    Fish2Kill
    In light of Yahoo's notice that it will soon delete all messages prior to April 21, 2021, I thought I'd retrieve a few of my earliest FUV posts. I first became aware of FUV because one of my nephews asked my to take a look at Arcimoto and tell him what I thought. (I've ridden all manner of street and enduro motorcycles for over 50 years, and worked in too many Boston RT 128 high-tech startup companies to list here.) My initial reaction was "ugly and overpriced". Upon further investigation, I discovered no technical innovation whatsoever, just a kluge of existing parts and pieces crammed onto a custom chassis. Here are excerpts from a few of my earliest posts here. Don't tell me nobody saw this coming or that nobody warned you about what I saw as a guaranteed failure.

    (mid February of 2020 - "Well, you certainly can't be a chartist - since this stock broke below its moving 50-day average a month ago and is STILL trending downward. If that's a screaming "buy" signal for you, just keep adding to your position and wave those 20-day old pompoms of yours even harder, something great is imminent! ROTFLMAO I came to this message board only as a favor to my nephew, but I'm staying for the entertainment."

    (late February 2020) "@Dev: lol indeed, my advanced age and declining eyesight are probably responsible for our differing visions of FUV; where you see tesla this old-fart boomer sees delorean or bricklin - or more germanely, since this outfit allegedly makes trikes and not a 4-wheelers, a Servi-Car Harley stuck in reverse. I'm unable to remember any companies that made their stockholders rich by manufacturing and selling 3-wheelers, but at my age it's hard to be sure of anything."

    "Fish2Kill last year
    $FUV conversation
    ROTFLMAO at this enclave of giddy, relentless FUV cheerleaders. More sanguine investors might note that this company:
    - exceeded consensus EPS predicted losses for each of the last 4 quarters, and is on track to repeat that performance for this quarter
    - has less than 1 year of cash on hand
    - is currently unprofitable and is forecast to remain unprofitable over the next 3 years
    - has had a volatile share price over the past year
    - diluted its shareholders during the past year
    - has no meaningful revenue
    - tied itself to an open 3-wheel platform that makes no sense (it's just as wide as a four-wheeled compact car but offers far less interior space and no creature comforts or even basic weather protection. Furthermore, this configuration sacrifices the simplicity of single rear-wheel drive in favor of a more complicated and costly front-wheel drive layout that will be further complicated by the addition of dual-wheel tilt steering)
    - tied the introduction of its product to a few rental centers in sunny climes but has yet to publish any rental numbers or revenue figures for those centers
    - claims to have a high number of "pre-sale" orders but hasn't furnished any data on order fulfillment
    - lacks a coherent marketing plan. (Daytona Bike Week? Arcimoto Fun Rides in Eugene Oregon? A one-time appearance on "The Price Is Right"?) [take a look at that video - do you want that foo-foo color scheme and dingbat contestant to be images the public will associate with this allegedly hyper-practical vehicle?]

    Early this year, when the share price was above $36, one of my nephews asked my opinion about shorting FUV. After a little due diligence I told him that IMHO it looked like a pretty safe bet. My only mistake was advising him to close out his short position at $18, which he did. I consoled him later by noting that it's never wrong to take an obscene profit."

    Plenty more where this came from, but this should suffice for now. I hope my negative posts helped a few folks avoid some major losses, and sorry for those who chose to either diss me or ignore me. -F2K
  • R
    Roger
    Do people even realize the $20 million is only like 5 months of funding? Lol
  • R
    ROUSOS
    FUV looks like it is about to drop. Be careful guys. I have been reading www.daytradercompany.tech and their stocks have been doing way better.
  • R
    Richard
    justsaying - I appreciate your optimism and thoughtful contributions. Your eternal optimism probably serves you well in life. In this instance, I think this company is toast, in its current form. I think it will be absorbed into the lender's protfolio, downsized and continue to produce the MLM and FUV on a small scale. None of the current investors, unless they sell now, will ever see a dime. ... As always, I hope I'm wrong for the sake of all the employees who have done their best with horrible management leading the way into oblivion.
  • R
    Roger
    Remember

    “ If the Company elects to pay in stock, the stock for purposes of the monthly amortization will be valued at 92% of the average of the five lowest daily volume-weighted average closing prices over the ten trading days prior to the amortization”
  • D
    Darksky
    I suppose a very necessary step, just focus on the damn fuv and deliver, if you can sell them

    If this interim CEO makes a decision like this in 1 month, it just shows how wishy washy Mark was running the company

    I hope they eliminate "chief vision officer " role too :), also chief international officer, why you need an international officer, while you still have another 44 states that you cannot sell too
  • J
    John J.
    It seems like the majority of 'sales' is to the rental stores. And the biggest obstacle for retail has been "I can buy a used car for even less, than the FUV." HEY, how about the rentals SELL the used FUV's for some cold hard cash, for maybe $12,000 and see if there's a market. In retrospect, for $12,000, I probably would have bought a vehicle, rather than the $12k I invested in this stock.