Romeo Power (RMO) Stock Surges Higher After Q3 Earnings

Romeo Power is showing a new green in the stock market. As of today, the RMO price is signaling a more positive sign towards reaching the $4.9800 to 12% in pre-market. Recently the Company published its third quarter of 2021 results, after which its prices have surged. The third quarter of 2021 marked an important improvement in parts availability for both battery cells, and also Romeo Power and Dynexus Technologies have announced a partnership in the field of batteries and sensor technologies. Plus, the Company has secured a new facility in Cypress, California, which will allow it to expand its manufacturing and test lab capacity, allowing it to meet predicted market demand and continue to develop technologies.

 

Q3 2021 has been the strongest quarter in the history of RMO, its revenues have outperformed by more than 753% to $5.8 million, which is gained from its previous year. By the way, the Company started delivering products to the Company’s largest customer, and that’s why its revenue has grown markedly. Also, the Company is delighted to report that the Cash, cash equivalents, and investments represented $181 million, indicating sustained high liquidity.

April Sanchez

Business and Tech Reporter