The rally in electrical vehicle-related stocks has not been missed by Citron Analysis. The quick vendor is out with tweets Friday hitting one of many quickest rising names within the sector.
“Where other EV might be overvalued, this is laughable,” the tweet stated.
Citron famous Electrameccanica has spent below $6 million on analysis and improvement over the past 12 months and has delivered a complete of six vehicles in two years.
The second tweet goes into the $2 price goal and notes there’s “nothing here.”
(SOLO)&src=ctag&ref_src=twsrcpercent5Etfw”>$(SOLO) is the EV commerce for the true sucker..not one actual institutional investor right here….they’d a going concern just some weeks in the past. OMG..over $1 bil mkt cap
— Citron Analysis (@CitronResearch) November 20, 2020
Electrical car stocks which have run up with out sturdy gross sales or upcoming model releases may very well be the goal of quick reviews because of the enhance in valuations right here.
price Motion: Shares of Electrameccanica had been up 16% to $11.25 on the time of writing. Shares hit new highs of $13.60 earlier Friday earlier than Citron’s tweets.
© 2020 Fintech Zoom.com. Fintech Zoom doesn’t present funding recommendation. All rights reserved.