Electrameccanica Vehicles (SOLO) Sees Large Volume Increase

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Shares of Electrameccanica Vehicles Corp (NASDAQ:SOLO) saw strong trading volume on Wednesday . 20,450,324 shares traded hands during mid-day trading, an increase of 551% from the previous session’s volume of 3,142,356 shares.The stock last traded at $4.26 and had previously closed at $3.42.

Several research analysts have recently weighed in on the stock. Benchmark assumed coverage on shares of Electrameccanica Vehicles in a report on Wednesday. They issued a “speculative buy” rating and a $6.00 price target on the stock. ValuEngine cut shares of Electrameccanica Vehicles from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research cut shares of Electrameccanica Vehicles from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th.

An institutional investor recently bought a new position in Electrameccanica Vehicles stock. 1492 Capital Management LLC bought a new stake in Electrameccanica Vehicles Corp (NASDAQ:SOLO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 180,842 shares of the company’s stock, valued at approximately $193,000. 1492 Capital Management LLC owned about 0.56% of Electrameccanica Vehicles as of its most recent SEC filing. 3.81% of the stock is owned by institutional investors.

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Electrameccanica Vehicles Company Profile (NASDAQ:SOLO)

Electrameccanica Vehicles Corp., a development-stage company, plans, develops, manufactures, and sells single person electric vehicles under the SOLO name for mass markets. It operates in two segments, Electric Vehicles and Custom Build Vehicles. The company also develops and manufactures high end custom built vehicles.

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