VLCN $1.10, Here is an extremely speculative stock. Volcon, Inc. develops, manufactures, and sells electric off road powersport vehicles. The only thing uglier than their balance sheet is their income statement. Either one is a scary sight. A secondary offering or a bankruptcy filing could be right around the corner.
They did a 1-for-45 reverse split earlier this month. The price has been sliding ever since. There are now only 1.2M shares outstanding. The entire market cap is $1.3M The float totals 135k. I bought a small position at $1.07 today. I think this thing could shoot off like a rocket in this highly speculative environment. Definitely not one to buy with embezzled funds.
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
