Citron calls ElectraMeccanica ‘complete joke,’ puts $2 target on shares

Andrew Left’s Citron Research took to Twitter to attack Electrameccanica Vehicles, calling the company a “complete joke”. The firm known for short-selling put a $2 price target on the shares. ElectraMeccanica in midday trading is up 15% to $11.05. Citron tweeted: “$SOLO is a COMPLETE JOKE. tgt $2 Where other EV might be overvalued, this is laughable. Under $6 mil R&D last 12 months and 6 cars delivered in 2 years this stock will be the first to trade back to $2 when frenzy over. Nothing here..company run out of an apartment building…$SOLO is the EV trade for the real sucker..not one real institutional investor here….they had a going concern just a few weeks ago. OMG..over $1 bil mkt cap.” ElectraMeccanica is a Canadian designer and manufacturer of electric vehicles. The company’s flagship vehicle is the single-seat SOLO.