Electric Vehicle Alert: Electrameccanica Vehicles Corp (SOLO) Drops -19.59% This Week, Should You Buy?

Thursday, February 23, 2023 01:54 PM | InvestorsObserver Analysts

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Electric Vehicle Alert: Electrameccanica Vehicles Corp (SOLO) Drops -19.59% This Week, Should You Buy?

Electrameccanica Vehicles Corp is a player in the electric vehicle industry that is lower by 10.46% Thursday. Overall market sentiment has been down on Electrameccanica Vehicles Corp (SOLO) stock lately. SOLO receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.

Electrameccanica Vehicles Corp has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on SOLO!

See Full SOLO Report

What is Stock Sentiment?

Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With SOLO Stock Today?

Electrameccanica Vehicles Corp (SOLO) stock is trading at $0.78 as of 1:44 PM on Thursday, Feb 23, a drop of -$0.09, or -10.46% from the previous closing price of $0.87. The stock has traded between $0.77 and $0.89 so far today. Volume today is light. So far 716,612 shares have traded compared to average volume of 1,015,960 shares. To screen for more stocks like Electrameccanica Vehicles Corp click here.

More About Electrameccanica Vehicles Corp

Electrameccanica Vehicles Corp Ltd is a development-stage electric vehicle or EV, designer and manufacturer company. The company's product line targets urban commuters, commercial fleets/deliveries and shared mobility seeking to commute in an efficient, cost-effective and environmentally friendly manner. The company's first flagship EV is the SOLO, a single-seat vehicle, of which it has built 64 prototype vehicles in-house and 60 pre-production vehicles with its manufacturing partner, Zongshen. The company's reportable business segments include Electric Vehicles which is the development and manufacture of electric vehicles for mass markets, and Custom built vehicles which is the development and manufacture of high-end custom-built vehicles. Click Here to get the full Stock Report for Electrameccanica Vehicles Corp stock.