GARLAND, Texas - Massimo Group (NASDAQ: MAMO), a manufacturer and distributor of power sports vehicles, has announced a national agreement to sell two of its youth series products, the Mini Tractor and Mini 125 Go Kart, in over 1,300 stores across 13 states starting May 4, 2024. This agreement with a global omnichannel retailer, which remains confidential, marks a significant expansion of the company's in-store presence.
The Mini Tractor features an electric start 125cc engine, forward and reverse gears, all-terrain tires, and is designed for easy transport and storage. The Mini 125 Go Kart boasts a 9HP engine, 3-speed transmission, and military styling, catering to light trail riding and neighborhood cruising.
David Shan, Founder, Chairman & CEO of Massimo, expressed that this in-store opportunity represents a substantial milestone for Massimo's distribution strategy. With over 2,800 retail locations in 48 states currently promoting Massimo products, the company anticipates this new agreement will foster further sales growth.
Massimo Group, established in 2009, offers a range of utility vehicles, ATVs, mini-bikes, and boats. The company is also developing electric versions of its products. Massimo's 286,000-square-foot manufacturing facility is located in Garland, Texas.
This expansion is based on a press release statement.
InvestingPro Insights
As Massimo Group (NASDAQ: MAMO) gears up to widen its retail footprint with the new national agreement, investors are closely watching the company's financial health and stock performance. The latest data from InvestingPro provides a snapshot of the company's market position and potential investment considerations.
The company's market capitalization stands at a modest $180.07 million, indicating a smaller cap company with potential room for growth. Massimo's P/E ratio, based on the last twelve months as of Q4 2023, is 17.34, which could suggest that the stock is trading at a reasonable valuation relative to its near-term earnings growth. The Price / Book value as of the same period is 12.43, pointing to a relatively high valuation in terms of the company's net asset value.
InvestingPro Tips highlight that Massimo's stock has experienced a strong return over the last month, with a 44.85% price total return. This could be indicative of investor optimism surrounding the company's growth prospects and recent distribution agreements. However, investors should note that the stock also generally trades with high price volatility, which could mean larger swings in price and potentially higher risk.
For those considering an investment in Massimo Group, there are additional InvestingPro Tips available that could provide deeper insights into the company's financials and stock performance. Using the coupon code PRONEWS24, investors can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips.
As of now, there are 10 more InvestingPro Tips listed, offering a more comprehensive analysis for potential investors. The next earnings date is set for June 17, 2024, which will be a key date for investors to assess the company's financial progress and the impact of its expanded distribution strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.