Consumer Discretionary Stocks Moving in Pre-Market Session

The article highlights 12 consumer discretionary stocks moving in Thursday's pre-market session. Gainers include Volcon VLCN stock, which rose 186.8% to $26.46, and Monarch Casino & Resort MCRI stock, which rose 16.81% to $102.05. Losers include Lulus Fashion Lounge LVLU shares, which decreased by 10.6% to $4.2, and Kandi Technologies Group KNDI stock, which declined by 6.78% to $1.1.

Volcon Inc. (VLCN), a leader in electric off-road vehicles, saw its stock rise significantly in Thursday's pre-market session. The stock gained 186.8%, reaching $26.46. This substantial increase comes amidst a series of strategic initiatives and announcements from the company.

Volcon's stock surge can be attributed to several key developments. One of the most notable announcements was the company's $500 million private placement to initiate a Bitcoin Treasury Strategy [1]. This move involves selling 50,142,851 shares at $10.00 per share to institutional and accredited investors, with Empery Asset Management as the lead investor. The proceeds will be used to acquire Bitcoin as the primary treasury reserve asset. Additionally, Ryan Lane from Empery Asset Management has been appointed co-CEO and Chairman of the Board, alongside three new board members.

This strategic shift aligns with Volcon's ongoing commitment to innovation and sustainability in the electric mobility sector. The company has been steadily expanding its product offerings, including the launch of the HF1 electric UTV and the 250W Brat model, which has successfully obtained Japanese government certification [2].

Volcon's strong performance in the pre-market session highlights the growing investor confidence in its strategic direction and the potential of its electric off-road vehicle offerings. The company continues to make strides in the electric mobility sector, positioning itself as a key player in the sustainable powersports market.

References:
[1] https://stockanalysis.com/stocks/vlcn/
[2] https://www.stocktitan.net/news/VLCN/