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.
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