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Three wheels, one passenger and a dose of ambition in the electric vehicle market. This is the vision of Electrameccanica Vehicles (NASDAQ: ONLY) and for unusual traders, there is a case to build in favor of a long-term position in ONLY.
Not everyone likes Electrameccanica because the company’s cars don’t look like most cars seen on the roads today. The first time you see an image of a Solo car, you may be a little surprised.
You can say “yes” to those questions with a small position in ONLY, if you dare. It’s not for everyone, however, we notice that other electric vehicle corporations enrich investors and Electrameccanica can be a game changer.
This is a fast move because the ACTION ONLY increases or decreases by 3%, 4% or even more in a single trading session. This is because it is a low-priced inventory and the electric vehicle is sensitive to ongoing developments.
Interestingly, the maximum value of individual inventory for 52 weeks is precisely $6. This is a long-term purpose for bulls. Ultra-optimistic investors might be tempted to expect $6 consistent with a steady percentage this year, but they are more realistic and point to $4 first.
While watching the percentage value developments OF ONLY, be sure to keep an eye out for Tesla inventory (NASDAQ: TSLA). I’ve had a lot in the last few years so I call Tesla effect.
But don’t feel that Electrameccanica is just a mini-Tesla. The corporation is working hard to make a call on its own and locate its position in the box of electrical cars a little congested.
To achieve this, Electrameccanica must maintain a strong monetary position. Fortunately, the company’s monetary effects in the second quarter mean that Electrameccanica is raising enough capital to keep its business healthy.
As of June 30, Electrameccanica’s money, money equivalents and short-term deposits totaled CAD 51.3 million. This is a massive improvement over the C$11.1 million recorded as of December 31, 2019.
No doubt, relief in spending has contributed to this. For example, Electrameccanica’s money used in operations at the time of the 2020 quarter amounted to CAD 5.7 million. If that sounds a lot, keep in mind that this is particularly less than the C$8.2 million reported for the same quarter last year.
SOLO shareholders are pleased to learn that Electrameccanica has limited the facility’s proposed location to Arizona, Florida and Tennessee. Wherever completed, the new meeting facility will be a primary expansion initiative for Electrameccanica.
The company’s CEO, Paul Rivera, sees the resolution as a “broader purpose of a multipurpose urban SOLO ecosystem for personal, commercial, application, and fleet applications.”
I call it a component of the invasion of small cars in the United States. If you gain ground, there will be small Solo cars in each and every state and not only will they be normal, but they will even be in fashion.
Are cars only too strange for America? Electrameccanica makes a large-scale tactic that isn’t. If you agree with this plan, ONLY Stock as a vote in favor of ultra-efficient, forward-looking transportation.
The Big Earnings message comes from small cars with the inventory of Electrameccanica Vehicles made the first impression on InvestorPlace.