#4 - Electrameccanica Motors (NASDAQ:SOLO)
If you want a really speculative play in the EV market, you can look at Electrameccanica Motors (NASDAQ:SOLO). The company is manufacturing a three-wheeled vehicle that actually falls into the class of a motorcycle. And that’s only one reason why the stock is both risky and intriguing.
The concept is a one-person vehicle (hence the ticker SOLO). And the idea is that like the Smart car of years gone by, Americans are ready for a single-seat vehicle. I’m not so sure, but the vehicles may be an alternative to public transportation for the post-pandemic business traveler. And Electrameccanica is looking into a vehicle that includes slightly more storage capacity that will allow them to capture some commercial sales, specifically food delivery and last-mile service.
A theme you’ll notice in this presentation is that you should have realistic expectations and the stock price should reflect that. Late last year, SOLO stock had a market capitalization that exceeded $1 billion. At that time, shares of SOLO stock were trading for about $11 share. Today, the stock trades for under $9 ($8.29) and its market cap sits at around $677 million.
About Electrameccanica Vehicles
Electrameccanica Vehicles Corp. develops, manufactures, and sells electric vehicles in the United States and Canada. Its flagship product is the SOLO, a single seat vehicle. The company is also developing four-wheeled eRoadster and Tofino. In addition, it provides services, repairs, and support services, as well as sale of parts and custom built vehicles.
Read More - Current Price
- $0.21
- Consensus Rating
- Hold
- Ratings Breakdown
- 0 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $0.40 (88.5% Upside)
