How to buy Electric Last Mile (ELMS) stock

Updated Jan 20, 2021

Fact checked

Headquartered in Auburn Hills, Michigan, Electric Last Mile develops electric last-mile delivery vehicles. The company caters to the last-mile e-commerce segment with its urban delivery vans.

What we know about the Electric Last Mile IPO

Electric vehicle production company Electric Last Mile is planning to go public through a merger with a special purpose acquisition company (SPAC), also known as a blank check company. SPACs are companies with no commercial operations that exist purely to raise capital through IPOs. The deal is expected to close in the third quarter of 2021.

The SPAC, Forum Merger III Corporation, originally went public in December 2020. After the merger, the company will trade on the Nasdaq under the ticker "ELMS."

How to buy shares in Electric Last Mile when it goes public

Once Electric Last Mile goes public, you'll need a brokerage account to invest. Consider opening a brokerage account today so you're ready as soon as the stock hits the market.

Compare share trading platforms. Use our comparison table to help you find a platform that fits you.
Open your brokerage account. Complete an application with your details.
Confirm your payment details. Fund your account.
Research the stock. Find the stock by name or ticker symbol – ELMS – and research it before deciding if it's a good investment for you.
Purchase now or later. Buy your desired number of shares with a market order or use a limit order to delay your purchase until the stock reaches a desired price.

Finder's picks for buying Electric Last Mile when it goes public

Our top pick for

Beginners

SoFi Invest

Our top pick for

Free trades

eToro

Our top pick for

Social traders

Public

We evaluate stock trading platforms against a range of metrics that include fees, ease of use, available securities and advanced tools to meet specific investor needs. We encourage you to compare stock platforms to find one that's best for your particular budget and goals.

Our pick for beginners. We chose SoFi for this category because it packs a ton of beginner-friendly features into its investing account. These include $0 commission trades, an easy-to-use and highly-rated web platform and mobile app, fractional shares, free automated investing and access to crypto. SoFi also has certified financial planners on staff to help talk you through investment strategies and financial goals — for free.
Our pick for free trades. We chose eToro for this category because it offers commission-free stocks, fractional shares and a complimentary $100,000 demo account so you can practice trading with virtual currency. eToro also lets you see and copy trades that other investors are making and discuss investment strategies on the app. These social features are a great way for new investors to learn about the market and follow trends.
Our pick for social traders. We selected Public for this category because it neatly integrates social media aspects into its investing platform. This integration provides users with a single, user-friendly platform to invest and share strategies, trends and tips with other users. Small-quantity investors can purchase fractional shares for as little as $1.

Client disclaimer: US Brokerage services through eToro USA Securities Inc, member of FINRA, SIPC. Crypto assets through eToro USA LLC.

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. But evaluating the performance of companies like Electric Last Mile can be useful in determining how the market is performing and whether now is a good time to invest in this industry. Select a company to learn more about what they do and how their stock performs, including market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield. While this list includes a selection of the most well-known and popular stocks, it doesn't include every stock available.

Company summary
Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits. It provides sedans and sport utility vehicles through direct and used vehicle sales, a network of Tesla Superchargers, and in-app upgrades; and purchase financing and leasing services. This segment is also involved in the provision of non-warranty after-sales vehicle services, sale of used vehicles, retail merchandise, and vehicle insurance, as well as sale of products to third party customers; services for electric vehicles through its company-owned service locations, and Tesla mobile service technicians; and vehicle limited warranties and extended service plans. The Energy Generation and Storage segment engages in the design, manufacture, installation, sale, and leasing of solar energy generation and energy storage products, and related services to residential, commercial, and industrial customers and utilities through its website, stores, and galleries, as well as through a network of channel partners. This segment also offers service and repairs to its energy product customers, including under warranty; and various financing options to its solar customers. The company was formerly known as Tesla Motors, Inc. and changed its name to Tesla, Inc. in February 2017. Tesla, Inc. was incorporated in 2003 and is headquartered in Austin, Texas.
Historical performance
Stock information
- Market capitalization: $862738251776
- P/E ratio: 104.2917
- PEG ratio: 1.3082
- Dividend yield: 0%
Get more detailed information and learn how to buy TSLA.US stock
Company summary
NIO Inc. designs, develops, manufactures, and sells smart electric vehicles in China. It offers five, six, and seven-seater electric SUVs, as well as smart electric sedans. The company is also involved in the provision of energy and service packages to its users; design and technology development activities; manufacture of e-powertrains, battery packs, and components; and sales and after sales management activities. In addition, it offers power solutions, including Power Home, a home charging solution; Power Swap, a battery swapping service; Power Charger, a fast-charging solution; Power Mobile, a mobile charging service through charging vans; Power Map, an application that provides access to a network of public chargers and their real-time information; and One Click for Power valet service, where it offers vehicle pick up, charging, and swapping services. Further, the company provides repair, maintenance, and bodywork services through its NIO service centers and authorized third-party service centers; statutory and third-party liability insurance, and vehicle damage insurance through third-party insurers; courtesy vehicle services; roadside assistance; data packages; and auto financing and financial leasing services. Additionally, it offers NIO Certified, a used vehicle inspection, evaluation, acquisition, and sales service. The company was formerly known as NextEV Inc. and changed its name to NIO Inc. in July 2017. NIO Inc. was incorporated in 2014 and is headquartered in Shanghai, China.
Historical performance
Stock information
- Market capitalization: $29901563904
- Dividend yield: 0%
Get more detailed information and learn how to buy NIO.US stock
Company summary
Electrameccanica Vehicles Corp., a development-stage company, develops, manufactures, and sells electric vehicles in Canada. The company operates in two segments, Electric Vehicles and Custom Build Vehicles. Its flagship product is the SOLO, a single seat vehicle. The company is also developing Tofino, an all-electric two-seater roadster. It also develops and manufactures custom built vehicles. The company sells its vehicles online through electrameccanica.com, as well as through 17 retail locations. Electrameccanica Vehicles Corp. was incorporated in 2015 and is headquartered in Burnaby, Canada.
Historical performance
Stock information
- Market capitalization: $149798880
- Dividend yield: 0%
Get more detailed information and learn how to buy SOLO.US stock

Compare trading platforms

Compare special offers, low fees and a wide range of types of investments among top trading platforms.

1 - 7 of 7

Name	Asset types	Stock trade fee	Minimum deposit	Signup bonus
SoFi Invest SoFi Invest	Stocks, ETFs, Cryptocurrency	$0	$0	$10 - $100 when you open an account and place a first crypto trade of $50 - $5,000+	A free way to invest in most equities.	Go to site More Info	loading Fetching your data...
BONUS eToro eToro	Stocks, ETFs, Cryptocurrency	$0	$10	8%-12% of your deposit when you sign up and deposit at least $50. T&Cs apply.	Trade stocks in the app or online with $0 commissions. Not available in NY, NV, MN, TN, and HI.	Go to site More Info	loading Fetching your data...
Public Public	Stocks, ETFs, Cryptocurrency	$0	$0	Receive a free stock slice worth between $3–$300 when you sign up for an account and deposit at least $20.	Commission-free trading in stocks and ETFs with a social networking twist.	Go to site More Info	loading Fetching your data...
Tastyworks Tastyworks	Stocks, Options, ETFs, Cryptocurrency	$0	$0	$200 in US stocks when you open and fund an account with min. $2,000 for 3+ mos.	Trade stocks, options, ETFs and futures on mobile or desktop with this advanced platform.	Go to site More Info	loading Fetching your data...
JPMorgan Self-Directed Investing JPMorgan Self-Directed Investing	Stocks, Bonds, Options, Mutual funds, ETFs	$0	$0	$125 - $625 when you open and fund an account with $25,000 - $250,000+	INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE	Go to site More Info	loading Fetching your data...
Robinhood Robinhood	Stocks, Options, ETFs, Cryptocurrency	$0	$0	Get a free stock when you successfully sign up and link your bank account.	Make unlimited commission-free trades, plus earn 3% interest on uninvested cash in your account with Robinhood Gold.	Go to site More Info	loading Fetching your data...
Tradier Tradier	Stocks, Options, ETFs	$0	$0	N/A	Customize your trade platform or build your own Deep tools, charts and screens Analyzers to help you study before you trade	Go to site More Info	loading Fetching your data...

Compare up to 4 providers

*Signup bonus information updated weekly.

The value of any investment can go up or down depending on news, trends and market conditions. We are not investment advisers, so do your own due diligence to understand the risks before you invest.

Ask an Expert

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

How to buy Electric Last Mile (ELMS) stock when it goes public

Here's everything we know so far about the Electric Last Mile IPO.

What we know about the Electric Last Mile IPO

How to buy shares in Electric Last Mile when it goes public