Surprised? Zenn Motors stock not so hot after tie-up with EEStor
Back in September, Zenn Motors announced an "updated business strategy" that included a new focus we'd call questionable at best and disastrous at its worst. Zenn's new strategy was to abandon any efforts to actually make vehicles and turn its entire attention to that mythical EEStor ultracapacitor technology. Now, it's not like Zenn Motors was abandoning a highly lucrative business, but the company had managed to cut out a small market of buyers for its electric vehicles (EVs).
Seeking something better, Zenn shifted all of its efforts over to EEStor's amazing ultracapacitor technology, even though some people think it's quite possible that no such ultracapacitor exists. Trading EVs for vaporware has taken its toll on Zenn's stock prices. Since the September announcement, stock prices for Zenn have fallen from a high of $6 to its current price of just south of $2 and the damage may not be over yet as the downward trend shows no signs of stopping. For Zenn, the release of EEStor's ultracapacitor can't come soon enough. That is, if it ever comes at all.
[Source: Darryl Siry]
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