Why Electrameccanica Stock Popped 8% This Morning
Shares of tiny Canadian auto company Electrameccanica Vehicles (NASDAQ: SOLO), a start-up placing its bets on the electric cars popularized by Tesla, leapt out of the gate on Thursday, rising 8.5% as of 10:20 a.m. EDT on the smallest of news: Electrameccanica is opening a new retail store in Portland, Oregon.
The electric three-wheeled Solo. Image source: Electrameccanica Vehicles.
Electrameccanica makes the Solo electric car, a three-wheeled, one-passenger cross between an econobox and a motorcycle, boasting a range of 100 miles and a top speed of 80 miles per hour. Manufactured in China at a factory supposedly able to crank out 20,000 of the electro-buggies a year, the company hasn't actually sold any Solos yet, but it's getting ready to.
Source Fool.com
