Vicinity (TM) Buses Selected For Washington Statewide Contract
Investors now have a world of options when it comes to gathering information about the stock market. The internet has made things a lot easier for all concerned. That being said, it is also true that the nature of the internet is such that there are many unreliable sources as well, and hence, it is necessary to know which sources to trust.
At this point, the YouTube channel RichTV Live has emerged as one of the more reliable sources of information for investors. It provides information on a wide range of companies throughout the week and publishes a video almost every day. In the video that the channel released yesterday, the analyst looked into a fresh development with regards to the electric bus manufacturing company Vicinity Motor Corp. (TSXV:VMC)(OTCQX:BUSXF)(FRA:6LG).
In this regard, it is also necessary to point out to potential investors that RichTV has covered this company for quite a while, and hence, it was no surprise that the latest development became the subject of yesterday’s video. The company is known for manufacturing a variety of buses starting from clean diesel buses to CNG buses and electric buses.
On Tuesday, Vicinity announced that it was selected by the State of Washington as part of a contract that encompasses the entire state. It is a massive development for the company and further reinforces the long-term possibilities of the variety of buses that it manufactures.
According to the terms of the contract, the State of Washington is going to have the right to buy buses from among the wide range of buses that are produced by Vicinity. It is not really a surprise that the Vicinity stock also continued to move up on Tuesday and that was one of the first points that was brought to notice by the RichTV analyst.
At the end of the day, the prospects of a company can only be judge by the sort of contracts it gets after having finally produced its good and services. In that regard, the contract that it signed with the State of Washington is an indication that the company’s buses could eventually make a name in the potentially large electric bus market. Investors could consider keeping the Vicinity stock on the watch list at this point.
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