What happened Shares of Electrameccanica Vehicles (NASDAQ: SOLO), a maker of three-wheeled electric passenger cars, popped a wheelie this morning, soaring 9.5% as of 10:55 a.m. EST, and posting its second day in the green since reporting stronger-than-expected third-quarter 2020 earnings on Tuesday. Analysts had forecast that Electrameccanica would lose $0.11 per share in the quarter. In fact, the company posted a $0.19 per share pro forma profit. Image source: Getty Images. So what That's the good news. The bad news is that under generally accepted accounting principles (GAAP), Electrameccanica did in fact lose money: 14.9 million Canadian dollars, or nearly three times its year-ago loss of CA$5.3 million. That loss is not surprising. As management explained, it only just "commenced production and [delivery of its] first shipment of SOLO EVs into the U.S." in Q3, so this is a business still getting its wheels under it. Moreover, Electrameccanica noted that this first shipment isn't even going to consumers, but rather will "be used specifically for high ROI activities, including press events, marketing, retail distribution, test drives, corporate and advertising purposes as well as fleet demonstrations." Now what Ultimately, the hope is that these marketing activities will create corporate and consumer demand for the SOLO EV, growing sales going forward. Management did not provide guidance for how it expects sales to progress, but for what it's worth, analysts polled by Yahoo! Finance are forecasting that the company will lose $0.13 (presumably pro forma) in Q4, on sales of about $370,000. The real growth is only expected to arrive next year, when Wall Street is forecasting a veritable explosion of demand -- and sales up more than 2,700%. We shall see. 10 stocks we like better than Electrameccanica Vehicles Corp.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Electrameccanica Vehicles Corp. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source