EV Watch: Electrameccanica Vehicles Corp (SOLO) Is Bullish And Falling Tuesday

Tuesday, August 09, 2022 03:45 PM | InvestorsObserver Analysts

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EV Watch: Electrameccanica Vehicles Corp (SOLO) Is Bullish And Falling Tuesday

SOLO, a player in the EV market, is lower by 3.7% Tuesday as it underperforms the market. Overall market sentiment has been high on Electrameccanica Vehicles Corp (SOLO) stock lately. SOLO receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Electrameccanica Vehicles Corp has a Bullish 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?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Recent trends are a good indicator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive. InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend. Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .

What's Happening With SOLO Stock Today?

Electrameccanica Vehicles Corp (SOLO) stock is trading at $1.56 as of 3:44 PM on Tuesday, Aug 9, a drop of -$0.06, or -3.7% from the previous closing price of $1.62. The stock has traded between $1.54 and $1.65 so far today. Volume today is less active than usual. So far 953,256 shares have traded compared to average volume of 1,289,202 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.