Why EV Stock Fisker Zoomed 33% in November
Fisker (NYSE: FSR) is an electric vehicle (EV) stock that has been flying under the radar. The month of November changed investors' perceptions as the company not only revealed its first all-electric vehicle, but also gave out crucial details about pricing and production timelines, among other things. Fisker shares jumped 33.3% in November, according to data provided by S&P Global Market Intelligence.
The stock, though, is already reversing course and is down nearly 15% so far in December. What gives?
During its third-quarter earnings release in early November, Fisker announced that production of its first SUV Ocean, which has been outsourced to Magna International (NYSE: MGA), is on track, and that it had received more than 18,600 reservations as of Nov. 2. Most importantly, Fisker announced it will reveal all details about Ocean at the upcoming Los Angeles Auto Show.
Source Fool.com
