Electrameccanica VehiclesNASDAQ: SOLO

Electrameccanica Vehicles Corp. (SOLO) ElectraMeccanica and Xos Joint Investor Call Transcript

ElectraMeccanica Vehicles Corp. (SOLO) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

The heavy selling pressure might have exhausted for ElectraMeccanica Vehicles Corp. (SOLO) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

The heavy selling pressure might have exhausted for ElectraMeccanica Vehicles Corp. (SOLO) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.

A merger between Tevva Motors, the British electric truck which supplies electric trucks to Royal Mail, and ElectraMeccanica (NASDAQ:SOLO) has been scrapped by the US company, which also said it is exploring legal options. The Essex-based startup engaged in "multiple incurable breaches" of the reverse takeover deal agreement from August, the New York-listed company said in a statement, including failing to disclose "material information" about itself.

ElectraMeccanica, former maker of three-wheeled electric vehicles, said on Wednesday that it has “terminated” its plan to merge with Tevva, which makes hydrogen-electric trucks (not sandals).  ElectraMeccanica said its board decided unanimously to bin the deal over “multiple incurable breaches of the agreement by Tevva.

ElectraMeccanica Vehicles Corp. (SOLO) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, SOLO's 50-day simple moving average broke out above its 200-day moving average; this is known as a "golden cross.

ElectraMeccanica Vehicles Corp. (SOLO) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

ElectraMeccanica (SOLO) and Tevva are set to merge, which will redefine the zero-emission commercial vehicle landscape across the UK, Europe and the United States.