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Why Arcimoto Shares Are Down 15% Today

TheMotleyFool

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Shares of Arcimoto (NASDAQ: FUV), a maker of specialty electric three-wheeled vehicles, are trading down 15% as of 2 p.m. EST today. There could be several reasons for the drop, not the least of which is that shares have more than doubled in the last month.

Today, Arcimoto announced it is offering 1 million shares of common stock directly to institutional investors. The company said it will use the $15.25 million in proceeds to continue supporting the growth it's experiencing.

Source Fool.com

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