May 29, 2020

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Notable News to Watch: Electra Meccanica Vehicles Corp. (NASDAQ:SOLO)

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Electra Meccanica Vehicles Corp. (NASDAQ:SOLO) stock observed trading -63.90% off 52-week high price. On the other end, the stock has been noted 200.00% away from low price over the last 52-weeks. The stock disclosed a move of -7.44% away from 50 day moving average and 5.03% away from 200 day moving average. Moving closer, we can see that shares have been trading 3.45% off 20-day moving average. It has market cap of $100.01M.

Electra Meccanica Vehicles Corp. (NASDAQ:SOLO) a designer and manufacturer of electric vehicles,  declared the appointment of automotive and advanced propulsion systems expert, Paul Rivera, as the company’s new Chief Executive Officer. Jerry Kroll, who is Founder and has served as CEO since 2015, and envisioned an all-electric future for the company, will continue to contribute to the success of Electra Meccanica during this transition and will continue to advise in the future as a board member.

Before joining Electra Meccanica, Rivera most recently served as President of Ricardo, USA, a division of Ricardo, PLC (LON: RCDO), a 100-year-old global engineering, strategic, and environmental consultancy business with a value chain that includes the design, engineering, testing, and product launch, of vehicle systems, as well as the niche manufacture of high performance products.  Previous to that, as Executive VP of Hybrid & Electric Systems at Ricardo, Rivera led the company’s evolution towards an efficient and sustainable low carbon future. Ricardo’s engineering and design solutions have had a significant impact on technical developments throughout the auto sector, providing innovative solutions across engines, drivelines and hybrid systems, as well as supporting the development of emerging technologies such as autonomous and connected vehicles. Rivera brings more than two decades of experience in technical consulting, engineering services, general management, global business development, and a deep understanding of engineering in the automotive, transport, and energy industries to Electra Meccanica.

Coming from leadership positions that have pioneered evolutionary change at global automotive and engineering companies, I’m excited to join Electra Meccanica to help steer the next stage of the company’s remarkable growth, said Rivera, Chief Executive Officer of Electra Meccanica. I look forward to contributing my experience to further drive Electra Meccanica’s strong momentum as we continue our mission to make electric vehicles accepted across the world.

Rivera is joining Electra Meccanica at a pivotal moment. With more than 60,000 pre-orders of vehicles and the opening of a state-of-the-art production facility in Chongqing, China, Electra Meccanica is ramping up for mass production.

We’ve seen a tremendous response from consumers and partners for Electra Meccanica’s portfolio of vehicles, commented outgoing CEO, Jerry Kroll. We’re thrilled to have Paul join our team to grow our company and to accelerate the development of our amazing products. We’re headed toward a very exciting period of growth for the company and Paul is the perfect executive to help lead us into the future.

The Canada based company Electrameccanica Vehicles Corp. moved with change of -0.37% to $2.7 with the total traded volume of 126902 shares in recent session versus to an average volume of 653.84K. The stock was observed in the 5 days activity at 6.30%. The one month performance of stock was 5.47%. SOLO’s shares are at -39.46% for the quarter and driving a -58.40% return over the course of the past year and is now at 153.52% since this point in 2018.  . The average volatility for the week and month was at 6.35% and 6.13% respectively. There are 37.04M shares outstanding and 19.85M shares are floated in market.

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