Damon’s Electric Dream Turns Into a Nasdaq Nightmare
Damon Motorcycles, once hailed as the future of electric motorcycling, now finds itself on the brink of collapse. The Canadian startup — known for its futuristic HyperSport electric superbike concept — is facing delisting from Nasdaq after its share price plummeted to below a single cent.
Trading was officially suspended last week, with a Nasdaq hearing scheduled for May 20, 2025. For investors, this isn’t the high-speed revolution Damon promised — it’s more like a crash landing in slow motion.
Key Facts & Timeline
| Parameter | Details |
|---|---|
| Company | Damon Motors Inc. |
| Ticker | DAMN (Nasdaq) |
| Share Price (Oct 2025) | <$0.01 |
| Peak Share Price (Nov 2024) | $4.95 |
| Status | Trading suspended |
| Next Step | Nasdaq delisting hearing – May 20, 2025 |
| Headquarters | Vancouver, Canada → U.S. (planned move) |
| Products Built | None (prototype only) |
From Hype to Halt: How Damon’s Dream Unraveled
When Damon Motorcycles went public, expectations were sky-high. The company claimed it would redefine motorcycle safety and performance with advanced AI systems and high-performance electric powertrains.
But the reality has been far less thrilling.
Despite years of buzz, Damon hasn’t built a single production motorcycle. The much-hyped HyperSport prototype made headlines, but no real product ever reached consumers.
Even worse, leadership chaos followed. Co-founder and CEO Jay Giraud exited, marketing head Amber Spencer departed, and co-founder Dominique Kwong — who previously left amid internal shakeups — suddenly returned to lead. Add to that the exit of tech chief Derek Dorresteyn (formerly of Alta Motors), and it’s a recipe for corporate confusion.
Leadership Chaos and Strategic Confusion
The company’s internal instability has only accelerated its decline. Frequent executive changes and unclear strategy have left investors wondering who’s actually in charge. Damon even shifted its planned assembly operations from Vancouver to the U.S., but production never materialized.
In a last-ditch move, Damon announced it would “pivot into the mobility space” — industry-speak for “we’re not sure what comes next.” The startup hinted at licensing its technology to other manufacturers, but no partners have signed on.
Market Reaction: From Rising Star to Penny Stock
Once valued as a promising EV startup, Damon’s stock has fallen from nearly $5 a share to less than a penny. Nasdaq rules require companies to maintain a minimum bid price of $1 — a threshold Damon hasn’t met in months.
Investors have lost confidence, and the company’s future now hangs on the upcoming delisting hearing.
What This Means for the EV Motorcycle Industry
Damon’s collapse highlights a harsh truth: you can’t ride hype forever. Electric motorcycles may be the future, but without real production and delivery, even the boldest ideas will stall.
Companies like LiveWire, Zero, and Verge Motorcycles continue to push forward with tangible products, while Damon remains stuck in the prototype phase — and the Nasdaq’s patience has run out.
Price and Market Position (Planned HyperSport Model)
| Specification | Damon HyperSport (Prototype) |
|---|---|
| Range (Claimed) | 320 km (200 miles) |
| Power Output | 200 hp |
| Top Speed | 320 km/h (200 mph) |
| Price (Announced) | From $25,000 |
| Production Status | Prototype only |
Conclusion
Damon Motorcycles’ story serves as a cautionary tale for electric startups. Going public isn’t the finish line — it’s the starting grid. Without real products, stable leadership, and investor confidence, even the most electrifying visions can short-circuit.
Will Damon pull off a miracle at its Nasdaq hearing in May 2025? Unlikely — but for now, this once-promising EV dream seems to be running out of charge.
FAQ
When is the Nasdaq hearing for Damon Motorcycles?
The hearing is scheduled for May 20, 2025.
Why was Damon Motorcycles suspended from Nasdaq?
Because its share price dropped below Nasdaq’s minimum requirement, and trading volume collapsed.
Has Damon produced any motorcycles?
No. Only a prototype (the HyperSport) has been shown publicly — no production units have been built.
Who is leading Damon now?
Co-founder Dominique Kwong has returned as CEO after multiple executive departures.
What is Damon’s future plan?
The company says it’s “pivoting into the mobility space,” potentially licensing its EV technology to other firms — though no deals have been confirmed.