$Volcon Inc(VLCN)$Like other EV stocks, Volcon has been hammered this past year. Down more than 85% from its 52-week high, VLCN stock appears to have been grouped into the speculative growth bucket .

That said, this announcement is certainly bullish. The fact that demand has materialized to the degree it has is noteworthy. Any time a company comes out with a press release in such a tone, investors take note. In particular, concerns about discretionary demand are one of the key bearish factors that have been weighing down this stock. With some of these concerns lifted today, perhaps there’s significant room for growth from here.

Now, Volcon still needs to produce and deliver its vehicles. This is a company without revenue that’s burning cash. In this environment, investors don’t seem to be willing to take a shot on such stocks.

That said, Volcon is a company I’ve put on my watch list as a result of this news today. It will be interesting to see how the company executes from here.