As previously reported yesterday, Roth MKM analyst Craig Irwin downgraded ElectraMeccanica to Neutral from Buy with 60c price target. The company’s pivot to focus on a new four-wheeled vehicle could take substantial time and capital to execute, which introduces "greater uncertainty", the analyst tells investors in a research note. The firm prefers to "wait for improved visibility" on plans for the new vehicle and potential sales before becoming constructive on the stock.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on SOLO:
- ElectraMeccanica downgraded to Neutral from Buy at Roth MKM
- Electrameccanica Vehicles Corp options imply 23.3% move in share price post-earnings
- ElectraMeccanica updates voluntary recall of Solo G3 and G2
- Volcon & GLV award ElectraMeccanica assembly contract for fully electric STAG
- Volcon awards ElectraMeccanica additional assembly contract for STAG
