Why Fisker Shares Dropped Then Rebounded Today
Shares of Fisker (NYSE: FSR) were hit hard this morning, but it isn't because of the third-quarter report it released last night. The stock dropped 9.5% in early trading but recovered quickly from the day's low. As of 12:05 p.m. ET, Fisker shares remained lower by 2%.
The company's quarterly update didn't contain any market moving information. Fisker still expects production of its electric Ocean SUV to begin later this month. It will initially be produced in Europe by manufacturing contractor Magna International. The biggest news from the report was that Magna has agreed to purchase a commercial fleet of 15 Fisker vehicles that will be delivered before the end of this year.
Source Fool.com
