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The company I am talking about is Electra Meccanica, and yes that is how you say it. ticker symbol: SOLO.

They are currently trading for $6.26 at the time of this filming. When I made the penny stock video just a week ago, they were in the $3 range.

But, who is SOLO, well let’s dive in and find out if we think this may be the next profitable EV play.

Now, when I show you the car, it is a bit unusual, practical and affordable, but unusual, they do have other cars, this is just their flagship car, and I’ll get in to the other cars shortly.

But the uniqueness, practicality, and affordability is what may give this company the edge to outperform.

Here is the Solo, no, the back end did not get taken off by a train. If I was a car or a transformer this is prob. what I would look like.

The SOLO is a purpose-built, single-seat electric vehicle, providing a driving experience
that is unique, trendy, fun, affordable & environmentally friendly
• The SOLO’s unique features include:
▪ 100 mile range per charge
▪ 80-mph top speed
▪ Fully charged in under 4 hours (using 220V)
▪ Ability to charge on common electrical outlets (110V) or utilize Level II charging stations (220V)
▪ Technology enabled – Bluetooth stereo, heated seats, rear-view camera
▪ Minimal maintenance - 99% fewer parts than ICE vehicles
▪ Very attractive price point - $18,500

Here is a 5 year ownership comparison to other similar cars. Feel free to pause it here if you would like, but I can tell you that the beat all these competitors in every field, and cut the price in half when you get to the Chevy bolt and Tesla model 3.

I get those are cars meant to have passengers, but you should get the jist if you’re looking for a ride to get to work in an affordable way.

Being in public safety myself, the first thing I thought about was what would happen in a wreck.

However, the SOLO is supposed to be equipped with all the modern safety measures a regular car has, although may not be quite to that level, it is still much safer than a motorcycle.

Analysts had forecasted that Electrameccanica would lose $0.11 per share in the last quarter. In fact, the company posted a $0.19 per share pro forma profit.

They did lose some money this year because they just started production in late August so that loss is not surprising. As management explained, it only just "commenced production and [delivery of its] first shipment of SOLO EVs into the U.S." in Q3, so this is a business still getting its wheels under it. Moreover, Electrameccanica noted that this first shipment isn't even going to consumers, but rather will "be used specifically for high ROI activities, including press events, marketing, retail distribution, test drives, corporate and advertising purposes as well as fleet demonstrations."

One thing I really liked with their financials is that they have over 100 million in cash on hand with $0 in long-term debt.

Because of the uniqueness of the car, there are some states that require a motorcycle endorsement while the majority of states are good to go.

There are a couple states still deciding how to proceed with regulating it.

I said earlier that Electrameccanica had other cars, so let’s take a look.

Here is the eRoadster. It is something that comes out of the golden age with a modern twist. An all-electric classic looking two seater sportscar that can get from 0-60 in 6 seconds It has a range of 155 miles and is fully charged in approximately 9 hours. They are currently on pre-order and you can snag one for $124,900. That’s a little too rich for my blood, but if you’re into classic cars and don’t want the maintenance, this could be a perfect car for you.

The next one on the list, and my personal favorite from this company, is the Tofino. It is an all-electric sports car that has a range of 250 miles with a top speed of 125mph. As you can see, the Tofino is very sleek and is still cheaper than a lot of its competitors with a base price of around $50,000.

Like I mentioned earlier, the uniqueness, practicality, and affordability of this thing may be exactly what this company needs to stay in the EV game for a long time.
I would rate this one a buy as of now, especially with an entry point like we’re looking at right now. Now if it were to get a big run-up really quickly, I would be worried about shorts, but for now, I think we’re good. Could be staring at a really profitable stock at this very moment.

#Electrameccanica #solostock #EVstocks