How to buy ElectraMeccanica shares (SOLO)

ElectraMeccanica is a unique electric vehicle manufacturer. In this guide, find out about its products, its vision for future growth, and how to invest in SOLO stock.
Updated: Jul 6, 2023

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This pages details everything you need to know about ElectraMeccanica. We explain what the company is, analyse its recent market performance and look at whether now is a good time to purchase shares in the EV player. Read on to get started.

Compare the best ElectraMeccanica trading platforms

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If you want to get involved straight away, you might be interested in our list of the best places to buy ElectraMeccanica stock right now. Simply consult the table below and if any of the options stand out to you, click the relevant link to sign up. Otherwise, scroll down to delve further into what the company has to offer.

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Interactive Brokers (U.K.) Limited is authorised and regulated by the Financial Conduct Authority. FCA Register Entry Number 208159. Products are only covered by the UK FSCS in limited circumstances.

How to buy ElectraMeccanica stock, a step-by-step guide

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The process of getting shares in ElectraMeccanica is quick and easy, so don’t worry even if you’re new to stock investing. These are the steps to follow in order to complete your investment:

  1. Choose a broker. You need to use an online brokerage platform. There are many different options to choose from, each with its own unique benefits and drawbacks. The comparison table above can help you select the right broker for you, and you can head to our comprehensive broker reviews if you’re still unsure.
  2. Create an account. Once you’ve selected your broker, simply go to their website and create an account. The steps required for this will vary from platform to platform, but generally you can expect to have to provide your name, email address, phone number, and some form of photo identification.
  3. Deposit funds. Log into your broker account and select the option to deposit funds. Depending on your broker you’ll have a variety of payment options available; most brokers accept bank transfers and debit card payments, but not all accept e-wallets such as PayPal. Select your preferred payment method and deposit the amount of money you wish to invest in ElectraMeccanica shares.
  4. Place an order for SOLO stock. Search for ElectraMeccanica’s ticker symbol (SOLO) and see the current price at which the stock is trading. If you’re happy with the price, enter the amount of shares you wish to own and place your order.
  5. Execute your order. Once you have placed your order, your broker will automatically execute it for you and your ElectraMeccanica shares will be listed in your account. Congratulations, you’ve just bought shares in ElectraMeccanica.

Should I invest in ElectraMeccanica?

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A development-stage company that develops, manufactures, and sells electric vehicles in Canada. Its current range of vehicles stands at three: the small, three-wheel, single-seat city car, Solo; the pricier retro convertible with modern touches, ERoadster; and the early-stage sports car offering, Tofino. While SOLO has plenty of competition – such as the world’s biggest most valuable car company Tesla, its range of vehicles is unique.

The Solo starts at $18,000, the ERoaster at $150,000, and the Tofino is yet to receive a formal price tag. The EV market is projected to expand by a compound annual growth rate of 14.1 per cent over the next decade, according to data from Next Move Strategy Consulting. SOLO could be poised to take advantage of this increasing demand.

Moreover, ElectraMeccanica is situated in a favourable jurisdiction and has the expertise to execute its concepts and deliver vehicles to the North American market. While ElectraMeccanica is yet to sell a car, it has the capacity to build around 20,000 vehicles annually and has agreed to make 75,000 solos over a three-year period. This makes the company an intriguing option for growth investors looking to get in early.

How has the company performed in recent years?

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Since its IPO in 2018, the SOLO share price has been up and down. This is reflective of the company’s speculative nature – investors are banking on future sales rather than current revenue. Right now, EleectraMeccacanica generates minimal revenue from a legacy business of manufacturing replica cars, and its costs for research and development (R&D) are high.

However, there is some substance to back up SOLO’s potential value. For example, the well over 60,000 pre-orders for the Solo vehicle represent $2.4B in potential sales at the expected MSRP. This could be transformative for the company, allowing it to take things to the next level in the wake of the Solo’s launch.

It is important to view ElectraMeccanica from a macro standpoint to recognise its true potential. While there is plenty of competition in the EV space, SOLO’s combination of affordable city cars and retro sports cars could be enough to ensure its success in the coming years. However, investors will want to see these fully refundable $250 pre-orders turn into final sales before getting too excited.

Is it a good time to buy ElectraMeccanica shares now?

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This depends on your own investment strategy. If you are the sort of person who likes to purchase shares in a company and hold them for the long-term as they increase in price, you need to carry out due diligence in the form of fundamental analysis. This will allow you to work out what the value of ElectraMeccanica as a company currently is, and what it will be in the future. You can then take this information to work out if now is a good time to invest based on the going market price.

By contrast, traders need to focus on technical analysis. Essentially, they are less interested in what SOLO stock is truly worth, and more interested in what the market is willing to pay for it. This kind of analysis involves reading charts, identifying trends, and spotting indicators, and it can tell you when to buy and when to sell based on price fluctuations.

Regardless of how you choose to approach your investment, make sure you are informed about the latest development surrounding SOLO and the EV sector in general. To help you out in this regard, we have included links to some of the most recent relevant news stories below. Click on one of them to check it out, or keep scrolling to learn more about investing and trading ElectraMeccanica shares.

Buying, selling and trading ElectraMeccanica shares for beginners

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What to do before buying shares

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You should always take the time to research a stock fully before investing your money, especially if you haven’t bought shares before. The more knowledge you have, the better your chances of making a wise investment. 

With that in mind, here’s a checklist to run through before you start.

  1. Research the company. You should always examine the fundamentals of a company first. What is ElectraMeccanica? How did the company get its start? How did it grow? Does ElectraMeccanica’s balance sheet look like it’s in a good place? Is the company innovating? The more you know about ElectraMeccanica, the better positioned you’ll be to make smart investment decisions.
  2. Make sure you understand the basics of stock investing. Before getting involved in the stock market, make sure you have an understanding of how it works. This will ensure that you have more clearly defined goals and have thought through how you will achieve them.
  3. Decide between share dealing and CFD trading. Choose the type of investment strategy you want to pursue, and make sure you have carried out the necessary fundamental or technical analysis for share dealing and CFD trading respectively.
  4. Set the size of your budget. The golden rule of investing is never to risk more than you can afford to lose. Not every investment you make will result in a profit, so it is important to set a budget that not only allows good potential for capital growth, but also protects against overly damaging losses.
  5. Find the right broker. Individual brokers each have their own pros and cons. Some will have low fees but have a user interface you struggle to understand, whereas others may be a bit more expensive but come with a range of features that you want to take advantage of. Our broker reviews can help you find the right platform for you.
  6. Examine broader market conditions. No stock exists in a vacuum, and it’s always important to analyse the general trends of the stock market as a whole before investing. If a bear market is setting in and stock prices are falling, it’s best to wait it out and invest your money later when the stock is cheaper. If, however, the market is looking bullish, you’ll want to make your investment quickly to get the maximum benefit from rising stock prices. Follow the latest news to keep on top of movements in the financial markets.

What is the difference between buying, selling, and trading shares?

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If you’re new to stock investing, then it’s important to understand the basics of how to buy, sell, and trade ElectraMeccanica shares. Here’s a quick run-through of what’s involved in each.

Buying ElectraMeccanica

This process involves finding a broker and placing an order for ElectraMeccanica stock, as outlined in the steps further up this page. Ideally, you want to time your investment when the stock’s price is low so that you can profit by selling the shares after they increase in value.

Selling ElectraMeccanica

When you sell any ElectraMeccanica shares you have bought, you’ll want to do so at a higher price than the one at which you bought to earn a profit. 

When you sell is up to you. You might decide to hold for a long period of time, hoping to benefit from the company growing steadily throughout. Or, if you see that ElectraMeccanica’s stock is already up a lot compared to the price you bought it and you’ve noticed that the stock market is starting to fall, it might make sense to sell and take your profits to invest elsewhere. Equally, if the stock has fallen since you bought it and looks set to fall further, it might be a good idea to cut your losses by selling your shares.

Trading ElectraMeccanica

Trading is the same process, it’s just done over shorter periods of time with the aim to make small profits on a regular basis. This means that you can make money faster and spend your profits in your day-to-day life – however, on the other side it means you can lose money faster as well. For inexperienced investors, we generally recommend making investments for at least 6 months to a year instead of making trades in quick succession.

You can trade ElectraMeccanica shares through buying and selling shares, or by trading with CFDs. These allow investors to speculate on stock prices and trade with leverage in pursuit of bigger gains. CFDs trading is explained further in the next section, but it is worth noting that beginners should avoid trading with leverage. It comes with large risks and is best left to experienced investors.

Share dealing vs CFD trading

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When it comes to investing in any stock, the two options you have are share dealing and trading. Which one of these methods to opt for largely depends on your investment timeline, with investors thinking long term tending to go for share dealing, and those looking for short term gains pursuing a more aggressive trading strategy.

Here’s a quick summary of the two approaches, and the pros and cons of each.

Share dealing 

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Share dealing refers to the practice of buying and holding shares in a particular company over the long term. When investing like this, you’re seeking to profit either from dividend payments or an increase in the stock’s price over time.

When investing your money this way, it is important to do a thorough fundamental analysis of the company in which you are investing. You want to put your money in a stock you believe will trend upwards over time, even if there is some market volatility along the way, rather than get distracted by shorter-term peaks and troughs.


  • Can build wealth over time to achieve financial goals
  • Don’t need to be very reactive to short-term market movements
  • Some stocks will give you an income through regular dividend payments


  • Takes a long time to realise any profits
  • Your capital is tied up in stocks and cannot be used for other investments

CFD Trading 

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If your aim is to generate profits in the short term, then you might be better off trading shares than holding them in your portfolio. Stock trades like this are executed using CFDs (contracts for difference), which allow investors to trade against the value of a stock without having to take ownership of it. When CFD trading, investors are looking to buy and sell stocks fast to profit from short-term fluctuations in value.

One aspect of CFD trading that many investors find attractive is that they allow you to trade with leverage. This means you can place large trades while only putting up a fraction of the value yourself – for instance, if a platform offered leverage of 1:10, you could put £10 into SOLO shares and be able to trade £100 worth. This can maximise profits if the market moves in your favour, but be careful as it can also lead to heavy losses.

When trading using CFDs, it is key to be skilled at technical analysis and reading stock price charts. As you’re trading stocks quickly and frequently, the fundamental strength of the company in which you’re investing isn’t as important as being able to predict how its stock price will rise and fall minute-by-minute.


  • Can generate fast profits if you read the market right 
  • Some platforms allow you to trade with leverage
  • Prevents your capital being tied up so you can take advantage of investment opportunities


  • Trading with leverage is risky and can lead to big losses
  • Doesn’t necessarily generate growth over the long term

Consider which approach suits you best and craft an investment strategy that works for you. If you need more information, then simply take our beginners’ course on how to trade stocks.

How to choose a broker

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With the wide variety of online brokers available these days, it can be hard to figure out which is the best service to go with. Our comparison table and in-depth reviews can help you cut through the noise, but by and large these are the aspects you should be considering when selecting a broker:

  • Range of stocks available. The most important thing is that you can actually use the broker to find the shares you’re looking for. Some brokers offer more stocks than others, and many will allow you to trade other assets, such as cryptocurrency and ETFs.
  • Fees and commissions. You want to keep as large a chunk of your profits as you can, so it’s important to make sure your broker doesn’t charge high fees that can eat into your profits.
  • Regulation. You should only use regulated brokers. Unregulated brokers can be risky and offer little to no protection if the business were to fail while you had funds in your account.
  • Payment methods available. You might want to fund your trading account using a specific payment method, such as PayPal. Not all brokers accept every payment method, but using our comparisons you can search only the brokers that support the option you’re looking for.
  • Reputation. One of the strongest indicators of a broker’s reliability is the reputation it has with the customers who have used it. Brokers are online businesses, and as such many user experiences can be found online. You can check these out in addition to our reviews to make sure you choose the right platform.
  • Customer service. As you’re going to be investing your money using the platform, you want to check that the broker offers good customer service in case you have a query or something goes wrong.
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Charlie Hancox
Financial Writer
Charlie is a Financial Writer for Invezz. He covers commodities, cryptocurrencies, and breaking news. Prior to joining Invezz he helped grow Crux Investor into the fastest-growing... read more.