The technical signals for both the maker of electric motors for boats and the Invesco QQQ Trust are worth tracking.
While it seems unimaginable for a stock to rally in the current environment, I continue to watch Vision Marine Technologies (VMAR) for a strong close above $7.25-$7.75. The maker of electric motors for boats announced on Monday that it shattered the world record for the world’s fastest electric boat while racing in Lake of the Ozarks, Missouri, in front of more than 100,000 people.
Vision Marine worked with Hellkat Powerboats and created a V32, a 32-foot catamaran hull capable of accommodating the necessary battery banks to power two Vision Marine E-Motion electric outboards. The old record was 88.6 MPH, and Vision Marine’s boat, piloted by world champion Shaun Torrente, reached a new world record speed of 109 MPH.
While this feat may not translate into an immediate uptick for VMAR stock, it does give the company bragging rights. And for a micro-cap company trying to establish itself as the leader in electrified outboards, bragging rights can translate into orders for new electric motors.
More recent mentions of Vision Marine Technologies new world record:
- Electric Boat With Vision Marine Outboard Motors Hits 109 MPH – Inside EV’s
- Vision Marine Technologies and Shaun Torrente Amp Up the Electric Speed Boat Record – Wave to Wave
- World’s Fastest Electric Boat: Vision Marine’s V32 Can Run at 109 mph, Sets New Record – Tech Times
- Vision Marine Sets the World Speed Record for Electric Boats at 109 MPH – Soundings
- Vision Marine smashes the world record for world’s fastest electric boat – Powerboat World
- Electric boat breaks new speed record at 109 mph with Vision Marine’s new outboard motor – Electrek
- The World’s First 100+ Mph Electric Boat Is Here, Watch the Record-Breaking V32 in Action – Autoevolution
- Premier bateau électrique à 100 mph au monde : Vision Marine bat le record du monde – Marine Industry News
- Vision Marine Sets Electric Speed Record – CleanTechnica
- Electric boat breaks speed record with 109 MPH . track – News7g
- Vision Marine Sets Electric Speed Record – Trend Radars
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