ElectraMeccanica Vehicles Corp. closed at $7.65 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 0.77%, and the Nasdaq, a tech-heavy index, added 2.55%.
Heading into today, shares of the company had gained 24.23% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 5.88% and the S&P 500's loss of 0.35% in that time.
SOLO will be looking to display strength as it nears its next earnings release. On that day, SOLO is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 41.18%. Meanwhile, our latest consensus estimate is calling for revenue of $0.16 million, down 33.33% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for SOLO. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.54% higher. SOLO is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ElectraMeccanica Vehicles Corp. (SOLO) Stock Sinks As Market Gains: What You Should Know
ElectraMeccanica Vehicles Corp. closed at $7.65 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's daily gain of 1.61%. Meanwhile, the Dow gained 0.77%, and the Nasdaq, a tech-heavy index, added 2.55%.
Heading into today, shares of the company had gained 24.23% over the past month, outpacing the Auto-Tires-Trucks sector's gain of 5.88% and the S&P 500's loss of 0.35% in that time.
SOLO will be looking to display strength as it nears its next earnings release. On that day, SOLO is projected to report earnings of -$0.10 per share, which would represent year-over-year growth of 41.18%. Meanwhile, our latest consensus estimate is calling for revenue of $0.16 million, down 33.33% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for SOLO. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 3.54% higher. SOLO is holding a Zacks Rank of #3 (Hold) right now.
The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.