Water Tower Research initiates coverage on EVmo, saying the company is "at an inflection point"

Water Tower Research senior research analyst Graham Mattison told Proactive that EVmo (OTC:YAYO), a leading provider of rental vehicles, is "at an inflection point in its explosive growth curve as a leading player in the rideshare industry" as it initiated coverage on the company.

Mattison says a new management team with extensive experience in the transportation sector, a strengthened balance sheet, improved vehicle financing partnerships, and OEM supply agreements will enable the company to reach 2,000 vehicles in its fleet by the end of 2022, up from 600 at the end of last year.