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Why Did LOBO Stock Plunge 11.67% Despite U.S. Market Expansion?
Generated by AI AgentAinvest Movers Radar
Friday, May 16, 2025 6:44 am ET1min read
On May 16, 2025, LOBO's stock price dropped by 11.67% in pre-market trading, marking a significant decline for the electric vehicle (EV) technology company.
LOBO has recently secured a $6 million deal to supply 5,000 electric vehicles to the U.S. market. This strategic partnership with a U.S.-based distributor in Atlanta aims to tap into the $4 billion U.S. market, with a focus on sectors such as tourism, recreation, and
courses. The company projects a 41.5% revenue growth for 2025, driven by this expansion into the U.S. market.Despite the recent surge in stock price due to anticipated growth in the electric vehicle market, LOBO's stock has experienced volatility. The company's long-term commitment to the U.S. market through strategic partnerships is expected to drive future growth and stabilize its stock performance.
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