Grande West Transportation (TSX-V: BUS) (OTCQX: GWTNF) a growing manufacturer of transit vehicles industry announced this morning that the company has entered into an agreement with Digital Offering, LLC a Broker Dealer located in the United States to provide capital market advisory services and to explore the potential of uplisting Grande West to the Nasdaq or the NYSE. President and CEO of BUS William Trainer was quoted, “After initiating a review of market conditions our capital markets team has engaged Digital Offering in order to pursue a NASDAQ or NYSE listing. We anticipate our existing business and new product launch of the Vicinity Lightning™ combined with a higher listing in the U.S., will improve the liquidity of our stock, further broaden our institutional shareholder base and ultimately enhance long-term shareholder value,".
Today’s announcement of BUS’s plans to uplist its shares on the big board in the US is a fantastic move by the company, as the uplisting will increase its liquidity in the United States, and garner more serious interest from institutional investors.
In addition, BUS recently announced on December 7th 2020, that BUS has received a purchase order from its U.S distribution channel for 5 of the company’s new Vicinity Lightning Electric Vehicles. BUS is set to deliver the Vicinity Lightning buses by the third quarter of 2021 and the current order is part of its production of 20 buses, and Grande West has secured production levels to manufacture up to 200 Vicinity Lightning buses in 2021.
We recently put shares of Grande West on alert for investors because the stock has displayed some very serious strength in November. The strength in BUS shares were attributed to the company’s impressive partnerships with companies such as Hofer Powertrain, Lion Smart and BMW to power its new electric buses, coupled with the surging investor interest in the electric vehicle market.
GreenPower Motor Company (TSX: GPV) is another electric bus company that has seen its shares soar past $40 recently, however GreenPower currently has a market cap of $537 Million and has reported revenues of only $2.27 Million for its first quarter. In contrast, BUS only has a market cap of $143 Million and recently reported revenues of $8.92 Million for its three-month period ending on September 30th, 2020. Revenues for BUS’s third quarter increased 455% when compared to revenues of $1.6M for the same period in 2019.
Interestingly, Bruce Campbell, Founder and Portfolio Manager of Stone Bridge Investment Management Inc. appeared on BNN’s Market Call yesterday, and Mr. Campbell stated that he has recently bought back into Grande West Transportation! Investors can view Mr. Campbell’s recent discussion and outlook on BUS by following this link.
With the hot electric vehicle industry, growing revenues and the launching of Grande West’s new electric buses, we believe BUS presents a great opportunity for investors looking to take a bite into the EV market as BUS prepares for accelerated growth in 2021.
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