Citron Research has termed ElectraMeccanica Vehicles Corp.’s stock, SOLO, a complete joke and said it is overvalued in a Citron’s Tweet. Andrew Left’s Research company believes the stock will trade back to $2 when the EV frenzy is over.
$SOLO is a COMPLETE JOKE. tgt $2 Where other EV might be overvalued, this is laughable. Under $6 mil R&D last 12 months and 6 cars delivered in 2 years this stock will be the first to trade back to $2 when frenzy over. Nothing here..company run out of an apartment building.— Citron Research (@CitronResearch) November 20, 2020
- Citron basis its projection on the basis that ElectraMeccanica Vehicles Corp. has spent below $6 million in research and development in the last 12 months
- ElectraMeccanica Vehicles Corp. has also delivered only 6 cars in 2 years.
- Citron has instigated the company for running from an apartment building.
Citron is a research firm founded by Andrew Left that provides short-term-focused stock market information centered on terminal and fraudulent business models.
ElectraMeccanica Vehicles Corp. stock is currently gaining. SOLO: NASDAQ is up 17.32%