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Beam Global (NASDAQ:BEEM) shares are trading higher by 15.6% to $5.05 during Tuesday’s session after the company announced a year-over-year increase in second-quarter new orders.
Beam Global reported a record $10.6 million in second-quarter new orders, a 128% increase year-over-year. The company says it expanded its government contracts with multiple U.S. states and 15 local government entities and saw a 66% growth in its commercial business.
The company also shipped its first EV ARC™ systems to Europe. Over half of Q2 EV ARC™ orders were from new customers. CEO Desmond Wheatley also highlighted the company’s achievements, including revenue growth, international patents and a strong financial position with no debt. He expressed optimism about long-term growth and upcoming new products.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Beam Global’s case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, BEEM has a 52-week high of $12.57 and a 52-week low of $4.30.
Posted In: BEEM
