California Company Enters EV Sector

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Wednesday, March 24, 2021

A California-based company just announced that it entered into a non-binding letter of intent to form a joint venture with Lingstar Co. for the purpose of engaging in the sourcing, designing, developing, manufacturing and distribution of high-performance, affordable electric vehicles in North America, Asian and Africa. Not to be confused by the name, shares of Video River Networks, Inc. (OTCPK:NIHK) went soaring following the news as popularity in the EV space continues to gain steam.

Video River Networks Inc. is a specialty real estate holding company. The company has two lines of real estate business which is to promote and preserve affordable housing and economic development across urban neighborhoods in the United States; and acquire, hold and manage specialized assets including hemp and cannabis farms, dispensaries, CBD related commercial facilities, industrial and commercial real estate, and other real estate related services to the CBD and the legal cannabis industry. It focuses primarily on commercial and multifamily properties located in urban and high-density suburban markets throughout the United States.

Traders were optimistic on the news as shares were thrusted up to a session high of $0.149/share (+39.38%). This stock has been finding success over the last three months as it has been making new highs since the start of the year.

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