#4 - Electrameccanica Motors (NASDAQ:SOLO)
Are you ready for an autocycle? Electrameccanica Motors (NASDAQ:SOLO) is betting that you are. The company recently announced that they are beginning to deliver its electric vehicles. The company is bringing a single-seat vehicle to market.
It’s fair to question how big the audience will be for its vehicles which aren’t exactly made for big people. And it bears watching to see if the company can get any contracts from last-mile delivery companies.
However with the stock price now in the penny stock range (it was trading at nearly $11 a share earlier this year), there looks to be a lot of untapped value for speculative investors. Analysts agree and give SOLO stock a $9.42 price target which is 176% higher than its current price.
I thought it was irrational exuberance to see SOLO stock post a $1 billion market cap at one point this year. I also think that with the company delivering on its promises and beginning to have revenue coming in the door, it’s time to give the company a second look.
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)
