Why LiveWire Group, Inc. (LVWR) Surged Last Week

We recently published a list of Small Stocks, But Explosive: These 10 Firms Crushed The Market Last Week. In this article, we are going to take a look at where LiveWire Group, Inc. (NYSE:LVWR) stands against other firms that led last week’s charge.

LiveWire Group surged by 345 percent week-on-week as investors gobbled up shares, taking advantage of its cheap value.

In Friday’s trading alone, shares of LiveWire Group, Inc. (NYSE:LVWR) jumped by 56.79 percent to close at $4.5 apiece versus the $2.87 close on Thursday.

In recent news, LiveWire Group, Inc. (NYSE:LVWR) announced a series of promotions for its customers, with its LiveWire S2 models available for a limited time at annual financing rates of 1.49 percent.

LiveWire electric motorcycles being tested on a closed track in North America.

Additionally, the company also launched a promo for its LiveWire ONE electric motorcycle for $16,499.

LiveWire Group, Inc. (NYSE:LVWR) is an American electric motorcycle manufacturer initially launched as a dedicated electric vehicle division for Harley-Davidson.

In the first quarter of the year, the company narrowed its net loss by 18 percent to $19.3 million from the $23.6 million reported in the same period last year.

Revenues decreased by 46 percent to $2.7 million from $4.98 million year-on-year.

Overall, LVWR ranks 2nd on our list of firms that led last week’s charge. While we acknowledge the potential of LVWR, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LVWR and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.