Traders are starting to eye ElectraMeccanica Vehicles (Nasdaq: SOLO), a newer electric vehicle (EV) name that’s starting to float around the stock market. Maybe you’re even asking yourself if you should buy or sell SOLO stock.
Our friend, Future of Wealth Head Trader, Lance Ippolito shares his thoughts on the matter.
As the EV revolution continues to gain steam, investors are trying to find fresh ways to profit from the global adoption of electric vehicles we’re expected to see in the next five to 10 years.
And it’s no secret that this is the time of year investors like to target smaller companies that are out of the public eye… Companies just like ElectraMeccanica Vehicles, which designs and manufactures a peculiar three-wheeled electric vehicle.
So how can investors tell whether they should buy or sell SOLO stock?
In general, betting your money on EV companies is a good bet on the future. However, making a bet on an EV company that’ll show linear and exponential growth — like Tesla (Nasdaq: TSLA) — is a little tricky.
You’ll want to factor in companies that lay critical groundwork for the growth of the EV industry. You’ll also want to look at unique business models and technology that Wall Street hasn’t heard of yet.
Finding the best EV company before the crowd could deliver early investors a bundle of wealth… but investing in the wrong one could mean a complete loss.
If you were asking yourself whether to buy or sell SOLO stock, make sure to watch the video below!
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