HomeEquities ScoreWhy Electric Last Mile Solutions Inc. (ELMS) stock went down in the...

Why Electric Last Mile Solutions Inc. (ELMS) stock went down in the after-hours on Friday?

Electric Last Mile Solutions Inc. shares declined 6.69% in after-hours on Friday, December 31, 2021, and closed the daily trading at $6.56. However, in the regular trading session of Friday, ELMS’s stock gained 0.43%. ELMS shares have fallen 48.08% over the last 12 months, and they have moved up 3.53% in the past week. Over the past three months, the stock has lost 2.36%, while over the past six months, it has declined 32.79%.

Let’s briefly discuss its recent news and developments.


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ELMS exhibition at the Consumer Electronics Show

On December 29, 2021, Electric Last Mile Solutions, Inc. announced to host an exhibit at the Consumer Electronics Show (CES). The exhibit will display both all-electric commercial vehicles, the Class 1 Urban Delivery and Class 3 Urban Utility. The company will also be sharing its Air telematics solution that will be equipped in all its vehicles.

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ELMS chosen by Glovis America

On December 22, 2021, Electric Last Mile Solutions, Inc. (ELMS) announced that it has received an order from Glovis America, Inc., a global supply chain and logistics provider, for the ELMS Urban Delivery.

Glovis plans to use Electric Last Mile Solutions commercial vehicles to support its industrial operations. The Urban Delivery will be used for materials movement and shuttling personnel on-campus.

The Urban Utility is highly configurable and Glovis will also evaluate various configurations of the Urban Utility for operations like unloading cargo ships, transporting personnel, and transporting heavy materials at its ports.

Partnership with Nauto

On December 8, 2021, Nauto signed a partnership with Electric Last Mile Solutions, Inc.

Nauto’s advanced predictive-AI fleet safety platform will be available as pre-installed on ELMS new vehicles. This will help drivers of ELMS vehicles avoid collisions and enable fleet managers to improve operational efficiency, reduce vehicle downtime and provide cost savings from discounted insurance premiums.

ELMS Urban Delivery van order from Zeeba

On December 01, 2021, Electric Last Mile Solutions, Inc. (ELMS) announced a firm purchase order from Zeeba Vans, for 50 ELMS Urban Delivery vans with the intent to purchase hundreds more in 2022.

ELMS new appointment

On November 11, 2021, Electric Last Mile Solutions, Inc. (ELMS) appointed Thomas M. Dono, Jr. as Chief Legal Officer and Corporate Secretary of the company.

Tom has more than 20 years of experience in the automotive and technology industries and he most recently served as Chief Legal Officer and Corporate Secretary at Stoneridge.

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Conclusion

We have no latest news, as of this writing, which could be the reason behind its poor performance on Friday. We hope that the company will commence Monday trading in a positive mode.

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