Tag: elio ipo

By on August 10, 2017

elio-otc-chart

The past year hasn’t been particularly kind to Elio Motors, the startup trying to launch an economical enclosed-tandem, front-wheel drive three-wheeler. The company seems to be no closer to starting production and in fact has shuttered most of their operations, including assembly of their production-validation prototypes, and laid off most of their staff, to concentrate on raising the money they need to start building trikes.

For a while Elio was flying high. They had over 60,000 reservations and a Reg A+ stock offering raised $16 million. That stock quadrupled in price and briefly gave the company a billion-dollar valuation. Then, starting late in 2016, a pattern started forming. Some kind of bad news for Elio would appear on folks’ screens, either another production delay, a SEC filing with ominous-sounding boilerplate, or local politicians in Louisiana, where Elio promised to start building vehicles in what was formerly a GM assembly plant in Shreveport, would start complaining about a lack of progress. The bad news would get amplified by Elio’s critics, and their over-the-counter stock price would take a hit. A year ago the OTC shares were pretty stable at around $20/share. Down from the high of $60, but still significantly above the initial offering price of $14/share. By the end of 2016, however, it had dropped to about $15/share and since then it’s had a series of drops to about $8, then $7 and most recently about $5/share. Elio seemed headed for penny-stock status, or worse.

(Read More…)

Recent Comments

  • rpol35: Without Jeep & Ram, FCA would be over & out. It may make sense to sell low volume specialty marks...
  • BrentinWA: Badge… that’s it.
  • Caboose: Slightly off-topic, but didn’t the president vow to issue an executive order directing the EPA to...
  • Arthur Dailey: Read the works of David Foot who is credited with inventing the concept of economics based on...
  • Cactuar: Who can argue against DRL’s when seeing this photo?

New Car Research

Get a Free Dealer Quote

Staff