VaporBrands International, Inc. (OTC: VAPR) is an emerging EV manufacturer looking to utilize the most advanced technologies in manufacturing its vehicles. With the company preparing to launch its first EV in 2023, many investors are bullish VAPR stock could be one of the most promising EV stocks in the OTC. After the company promised to release updates this week, VAPR surged 250% overnight thanks to the bullish sentiment surrounding the stock. With the company releasing photos of its prototype, VAPR could be one of the EV stocks to watch closely for more updates.
VAPR Stock News
Originally a distributor of CBD oil products, VAPR is shifting its business direction to the growing EV industry after acquiring E-Cite Motors. To facilitate this business change, VAPR intends to apply for a name change and a symbol change to reflect its new business. Unlike other EV manufacturers like Tesla, Lucid, and Ford, E-Cite is not required to meet any of the safety or certifications of a traditional auto manufacturer. This is due to the fact that E-Cite qualifies under the Low Volume Vehicle Manufacturers Act of 2015. Under this act, auto manufacturers are exempt from all safety standards, however, they must meet current emission standards. Since EVs do not have emission standards, E-Cite could be on track to deliver its target of delivering its first EV production in 2023.
To facilitate the production of its EVs, E-Cite has developed a modular design which will be engineered to allow the production of EVs utilizing a chassis similar to skateboards which uses hub electric motors. Since the system is modular, E-Cite could modify the system to accommodate low powered batteries and a 100 hp motor up to high powered 1000 hp performance vehicles. Based on this, this design could allow for entry level vehicles that are fully upgradable to be fitted with several bodies ranging from affordable sports cars to luxury cars. As a result, VAPR could witness high demand for its EVs once the company starts to roll out its EVs.
Looking to start manufacturing its EVs, E-Cite acquired a $2.2 million 4000 square foot commercial building that used to be an auto repair shop for more than 20 years. This facility is expected to be mainly used for design, R&D, prototyping, and development. Meanwhile, E-Cite will produce parts and assemble its vehicles with several partners. At the same time, E-Cite fully acquired Acclaimed Auto Repair which it owned 33% of previously. AAR will continue operating as an automotive repair and restoration shop to generate revenues for the company until its EVs are launched into the market. With the company owning its facility and expanding within its industry, VAPR could be one of the EV stocks to hold for the long-term in anticipation of the release of its first EV.
In addition, VAPR acquired well-known custom auto manufacturer and car factory N2A Motors. In light of this acquisition, VAPR appointed N2A’s founder and legendary designer Gene Langmesser to its BOD as COO. In his new role, Langmesser will be responsible for directing, designing, and overseeing all of the company’s EV’s development and manufacturing.
Langmesser and N2A previously worked with Nikola Motors to design and build the first hydrogen hybrid semi-truck in 2016. For this task, Langmesser and his team delivered the entire carbon fiber body and several other aspects for the vehicle. In addition, Langmesser has previously led design and product development teams and prototyping for automotive giants like Porsche, Mercedes, Lexus, and Ford. Langmesser also created several movie cars – most notably the Lexus 2054 driven in Minority Report and the transforming taxis in Taxi. Considering Langmesser’s vast experience in the industry, VAPR’s EVs could be well-positioned to witness major success upon their release.
With this in mind, VAPR fully developed and assembled its modular chassis which will be used as the base for its upcoming EVs. This chassis is able to support speeds exceeding 250 miles per hour, provide daily drivability, and race car track performance. In light of this, VAPR could design different vehicles based on this chassis. Now that the chassis is complete, VAPR could move forward with the engineering phase to build its first prototype.
On that note, VAPR released details regarding its new affordable electric sports car that is currently under development. The EV is a two seat sports car that resembles a modern version of a legendary vehicle produced in the late 60s and early 70s. With this in mind, the vehicle will be available as an affordable entry level fiberglass bodied variant and as a more performance oriented version including a carbon fiber body and upgraded power and suspension. Currently, VAPR is assembling the prototype of its upcoming EV and recently shared the prototype’s sketches. As the company was able to reach this stage in a short period of time, VAPR could be one of the most promising EV stocks this year.
Meanwhile, VAPR has been working to expand its target market as it applied for a World Manufacturers Identifier from SAE International. If the company is approved as a WMI, VAPR could be able to obtain and certify a globally recognized Vehicle Identification Number protocol which will allow the company to issue VINs on its upcoming EVs. As this could be major news for the emerging EV manufacturer, VAPR could be one of the EV stocks to watch as it could be well-positioned to soar once the company is approved as a WMI.
As the company is looking to maximize shareholders’ value, VAPR purchased 5 million shares for cash that were issued for a previous acquisition before the company’s new business direction. At the same time, VAPR’s CEO Barry Henthorn returned 5 million shares that were issued for the same transactions. Based on this, VAPR reduced its OS by 10 million shares which shows the management’s commitment to provide value to the company’s shareholders. In light of this, VAPR could be one of the best EV stocks to buy as the company’s long-term potential is major.
Delivering on its target of increasing shareholders’ value, Langmesser shared that VAPR plans to become a fully reporting company and uplist to a senior exchange. To facilitate this, VAPR intends to complete its name and ticker change as well as auditing its financials. Since these processes could take time to be finalized, VAPR could be a bargain at its current PPS as it is one of the most promising EV stocks this year.
VAPR Stock Financials
Looking at VAPR’s Q1 financials, the company has $2.5 million in assets and $2.2 million in liabilities. VAPR also reported $2.2 thousand in revenues as well as $121.9 thousand in operating costs. Based on this, the company reported a net loss of $141.3 thousand. With this in mind, VAPR could be well-positioned to realize significant revenues once it starts rolling out its EVs.
@MoonMarket_ is confident VAPR stock could further run upon the company releasing more updates regarding its EV.
@ecgreendays is bullish VAPR’s run could continue in anticipation of the company’s updates.
Currently trading at $.0625, VAPR has supports near .0544 and .0380. The stock also shows resistances near .0830 and .0945. Following the company’s promise to share photos of its prototype, VAPR ran 250% overnight. Now that the company released the photos, VAPR stock could be in a prime position to witness another run. With this in mind, a golden cross recently occurred leading up to VAPR’s run past $.09. If the stock continues to witness high volume, VAPR has the potential to retest $.09. However, VAPR recently retested its support after dropping below its VWAP. Based on this, bullish investors could watch for retests of supports before adding shares of VAPR.
Accumulation is witnessing a downtick following VAPR’s run past $.09 mainly due to investors taking profit. Meanwhile, the MACD is bullish but could be approaching a crossover soon. The RSI cooled off significantly from 95 to 58. As these indicators appear to be resetting, investors could wait for these indicators to reset first before adding VAPR as it could be set for another run. VAPR has an OS of 337.1 million and a low float of 46.4 million.
VAPR Stock Forecast
After promising to share photos of the prototype of its first EV, VAPR has been one of the hottest EV stocks this week. With the company sharing the sketches, many investors are bullish VAPR could be well-positioned to continue climbing. As the company is planning to launch its EV in 2023, VAPR could be a profitable long-term hold for many investors. With this in mind, VAPR has a major advantage to realize revenues quicker than other EV manufacturers since the company is under the Low Volume Vehicle Manufacturers Act of 2015. Based on this, the company has major growth potential in the EV market since it could realize revenues from its upcoming launch to grow its business.
With this in mind, VAPR’s upcoming EVs have the potential to witness high demand since Langmesser is responsible for the design and overseeing all aspects of manufacturing. Considering Langmesser’s reputation as a legendary designer, some investors are bullish VAPR could secure a significant market share once the company is able to produce more vehicles. Meanwhile, the company intends to manufacture affordable EVs which could provide the company with a competitive advantage in the EV market. In light of this, VAPR could be one of the most promising EV stocks this year.
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