How to buy DeLorean Motor Company stock in Canada when it goes public

Here's everything we know so far about the DeLorean Motor Company IPO.

The DeLorean Motor Company is expected to go public, although the details of the offering have not been announced. Here's what we know about the IPO and how to buy DeLorean stock in Canada when it becomes available.

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What we know about the DeLorean Motor Company IPO

The DeLorean Motor Company (DMC) is expected to go public, however, the date has not been announced. DMC is a Texas-based electric vehicle manufacturer that makes the car known for inspiring the iconic DeLorean time machine in the 1985 film Back to the Future.

CEO Joost de Vries confirmed that the company must go public to raise the funds needed to put DeLorean vehicles back on the market. The DeLorean Alpha5 sports car was revealed this year, the first of a lineup that could expand to include a sedan as well as a premium SUV, according to de Vries.

Details of the IPO, such as the timing, stock exchange, ticker symbol, size of the offering and expected share price, have not been announced. The DeLorean Motor Company has not yet filed a viewable prospectus with the Securities and Exchange Commission (SEC).

DMC is the successor of the original DeLorean Motor Company, founded by American auto executive John DeLorean in 1975. The company went bankrupt in 1982 after producing nearly 9,000 vehicles.

Stephen Wynne, a UK-born mechanic and DeLorean enthusiast, opened the existing company in 1995 and acquired the parts and rights to resume manufacturing the famed sports car.

A DeLorean IPO could signal a successful comeback for the auto brand after years of trying to penetrate the market. We'll keep this page updated as events unfold.

Note: all dollar amounts on this page are in US dollars unless otherwise stated.

How to buy DeLorean Motor Company stock when it starts trading

Once DeLorean Motor Company 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.

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

Will I be able to buy DeLorean Motor Company stock in Canada?

You won't be able to buy DeLorean Motor Company stocks on a Canadian stock exchange like the TSX. Instead, you need a Canadian broker that provides access to international stock exchanges.

You can access US exchanges like the NYSE and the NASDAQ using Canadian trading platforms like Qtrade, Wealthsimple, Scotia iTRADE and CIBC Investor's Edge.

Interactive Brokers provides access to many stock exchanges outside North America like the Hong Kong Stock Exchange (SEHK), Korea Stock Exchange (KSE), National Stock Exchange of India (NSE), Frankfurt Stock Exchange (FWB) and London Stock Exchange (LSE).

How do similar companies perform?

It's impossible to predict how any stock will perform — and IPOs can be particularly volatile. Looking at the performance of similar companies can help you decide if now is a good time to buy DeLorean Motor Company stock.

See how the following stocks are performing, and view details like market capitalization, the price-to-earnings (P/E) ratio, price/earnings-to-growth (PEG) ratio and dividend yield.

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Tax implications of buying US stocks in Canada

Canadians who earn dividends from US stock investments must pay the US Internal Revenue Service (IRS) a 15% withholding tax on their earnings. The rate goes down to 10% for bonds and other interest-yielding US investments.

An exception is made for stock investments held in trusts designed to provide retirement income. This includes RRIFs, LIRAs, LIFs, LRIFs and Prescribed RRIFs. RRSPs that hold US stocks, bonds or ETFs are also exempt from US withholding tax. RESPs, TFSAs and RDSPs are not exempt.

Canadian and international investment income must be declared on your Canadian tax return. Unless your US earnings are exempt from withholding tax, this means you'll be taxed by both the IRS and the CRA. The CRA may allow you to claim foreign tax credits for any taxes you've already paid to the IRS.

Speak with a tax professional to find out what rules and exceptions apply in your circumstances.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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