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Electrameccanica Vehicles Corp. (SOLO)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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4.4000-0.2000 (-4.35%)
At close: 4:00PM EDT

4.4700 +0.07 (1.59%)
Pre-Market: 8:01AM EDT

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  • f
    figo
    SOLO stock is trading at an attractive Price/Book Value ratio of 3. In contrast, Tesla (TSLA) trades at a Price/Book value ratio of 27. The company has $129 million in cash while SOLO's market cap is around $500 million. Book value per share is $1.37, which means you're only paying a few dollars more per share than the total cash value of the company.

    Let's not forget about the $2.4 billion in preorders for the SOLO EV and Tofino roadster, which means demand for Electrameccanica's vehicles is very high.
    Bullish
  • W
    William
    I've been following Solo from $2.00/ share. Management has reached all major objectives that they said they would do. That is why I am invested here, this company is lead by achievers!
  • f
    figo
    As more Americans cope with a struggling economy, $18,500 is an affordable option with financing.You can connect your SOLO EV to your mobile app to provide a fully connected vehicle experience similar to Tesla or Nio.Risk Factors Include Competition from other EV Makers, Rising Costs, and Potential Share DilutionWhile the SOLO EV car is priced much cheaper than other EV vehicles, I think the biggest risk is competition from other companies like Tesla, Ford, etc.The entire vehicle industry is playing catchup to Tesla who launched its first 100% electric cars years ago.ElectraMeccanica is a Canadian-based company that must compete for business in the highly lucrative Los Angeles market during the SOLO's initial launch.I really like the concept of the SOLO EV but I also realize there are several downside issues.The biggest issue is the ability to only seat 1 passenger at a time. Many consumers may pass on this car if they need to transport multiple people at once.If consumers don't like the design or size of the vehicles, then sales will lag compared to more popular cars like the Tesla Model 3 or Model Y.Other risk factors include rising costs to produce the SOLO EV, potential share dilution from future offerings to raise capital, and backlash from the SOLO EV pricing model.I've read several comments stating that $18,500 is too much to pay for the SOLO EV. If ElectraMeccanica must lower its prices, then gross margins could suffer and hurt the company's chances of becoming profitable in the future.SOLO Stock Looks Much More Attractive After its Recent Drop in PriceSOLO stock reached as high #$%$ per share during this summer's major EV stock bubble as all-electric vehicles stocks rose in value.Now, I think it's a better time to buy SOLO stock after the selloff.$2.50 per share is a 50% discount from its recent highs.The $165 market cap is much smaller than the $2 billion in preorder value.If ElectraMeccanica reaches a $1 billion market cap by this time next year, that would price the stock at around $15 per share.That's around 6x upside assuming the company doesn't announce another share offering to raise cash.Even with a bit of dilution, I think $12 is a super conservative price for SOLO stock after the SOLO EV launch is complete.ConclusionThe company held $50 million in cash at the end of Q2 2020 according to the Q2 2020 earnings release.Without any risk of bankruptcy due to COVID-19, I believe it's time to get into accumulation mode and build up a position before revenue takes off.The stock market is an emotional rollercoaster and investors won't rush into the stock until ElectraMeccanica backs up its press releases with a surge in revenue.Getting in now before SOLO stock becomes popular could pay off in the future.
  • r
    rakesh
    I got in at 8.50$ ... huge mistake
  • P
    Peter
    Everybody BUY THIS STOCK!!! So at someday in the year 2030 I can play equal. 😜
  • A
    Aviad
    $RMO conversation
    The last day to buy before it’s flying. Don’t be late guys. $rmo the best ev’s company. Also $tsla $nio and $goev. Wish for good week.

    $qs $hyln $xl $solo $li $xpev
  • B
    Bob
    Would it be too much to ask for Electrameccanica to cut the BS and tell us the truth about first retail deliveries? The facility in China has a capacity of 20,000 vehicles per year with one line and one shift. If production started in late August at the facility in China there should be more than 10,000 cars sitting in a lot or on a ship somewhere. WHERE ARE THEY? If the truth is that the China facility isn't producing much then tell us the truth about that (and the reason why). Rivera, are you listening? How about someone goes to China and takes photos/videos of the activity at the China facility and put and end to this smoke and mirrors game?
    Neutral
  • s
    s
    Why do I always see people promoting other stocks in solo conversations, even in other stock applications, I feel because they know it’s fan base
    Bullish
  • S
    SmartAmerican
    I think this car would sell very well in Europe. Especially considering the high cost of gas over there.

    Another great use for this car can be, for people who are commuting by train to major cities from the suburbs, is a vehicle to get to the train station (park and ride). No risk of damage to your more expensive car as you can leave it home. maybe parking lots can allocate smaller parking spaces for cars of this size, allowing more people to park.

    Such a great idea for short trips to the store etc.

    If they could cut down the price a little bit, that would help with sales a lot.
  • M
    Martin
    There's nothing surprising about the earnings so chill out folks. The news is already baked in. All companies in the EV space face this type of cash burn as they have to pump a lot of cash into research and development and building out plants and stores, etc. They are in the growth stage. Anyone expecting profit for an early stage EV player doesn't understand this space and is dreaming. Look at TSLA, NIO, XPEV, AYRO, etc. What you are investing in is the future so you have to ask yourself if SOLO has a product that will appeal and sell over time. The answer is yes given their low price point and consumer shift from huge vehicles to smaller ones. Most people cannot afford $35K-$150K EV vehicles. This is essentially a safer version of a motorcycle in EV format and if you have travelled the world you know that motorcycles are one of the main forms of transport. Just relax and hold for long-term slow and steady growth.
  • C
    Capital
    Like if youd buy
  • t
    toby lisbon
    The only motorcycle covered and automatic wow and wow again, great entry price below 5??
    love their Tofino, amazing car. Solo great co, great CEO go long, soon consolidation and takeover among
    all EV GOOD CANDIDAD FOR TAKEOVER. LOAD YOUR WAGON EASY MONEY.
  • f
    figo
    The SOLO EV car is the Perfect Commuter & Delivery Vehicle

    What I like most about the SOLO EV is that its small size and low cost make for a perfect commuter vehicle.

    ElectraMeccanica isn't trying to replace a traditional car with its launch but provides commuters with a cheaper, more versatile alternative.

    The car is perfect for commuting into the city and keeping down your carbon footprint.

    The company also announced a SOLO EV fleet and utility version made for delivery drivers who need additional space to store items during transport.
  • t
    toby lisbon
    Excellent entry point. great co, great product, takeover on EV will start soon. easy money
    Bullish
  • f
    figo
    SOLO Production is On the Way

    The company announced over $2 billion in preorders back into 2018 for the upcoming SOLO vehicle.

    After years of waiting, we should see some of these preorders filled before the year's end.

    ElectraMeccanica posted a press release in early September showcasing photos and videos on the SOLO EV car in production.
    Bullish
  • r
    rodney
    Like Solo or not I'll bet you'll be surprised how many get sold in the USA just because they're a different look. Lots of people are going to think they're cool driving them around. The stock will be back to it's high before you know it in my opinion. I like the stock but do as you want it's your money, just quit complaining about it cause nobody is forcing you to buy. JMO.
    Bullish
  • D
    Diego
    at fashion square mall in Scottsdale Arizona they have one on display. seeing it live it looks way better than in person selling for $18,500. its in front of the boba tea company. looks fire👀🔥🔥
  • A
    Abu Rashel
    Total Market Capital: 521.63M
    Total Cash (mrq) 129.45M
    Total Cash Per Share (mrq)
    1.15
    Bullish
  • t
    toby lisbon
    My humble opinion best EV delivery ever Amazon here I come. wow easy money excellent entry point, still
    love their Tofino.
  • s
    s
    Price target 8 this week since Tesla got their good report
    Bullish