ElectraMeccanica Vehicles Capital Needs Will Keep Shares Range Bound For Now InvestorPlace 1/29/2021
ElectraMeccanica Vehicles (NASDAQ:
SOLO) still hasn’t raised the additional capital it needs. Until it does, SOLO stock is likely to be range-bound for a while. © Provided by InvestorPlace The Solo vehicle from Electra Meccanica Vehicles (SOLO) drives through Vancouver
As I argued in my last article, the company still needs to raise at least $75 million to $150 million more. That will result in a significant dilution for the company from 14% to 27% of the company’s shares.
Moreover, the company now says that it plans on building a U.S. assembly plant. The two finalist states are Arizona and Tennessee. Much of the capital will be used to build the assembly plant here instead of importing the three-wheeled electric vehicles from China.
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