Why Fisker Shares Hit the Brakes Today
Fisker (NYSE: FSR) released its first quarterly report today since it began delivering its all-electric Ocean SUV. Investors are disappointed, though, knocking the stock down by more than 9% at Friday morning's low point. As of 11:05 a.m. ET, Fisker shares are still down by 6.2%.
Fisker began initial vehicle deliveries in several European countries as well as the U.S. in the second quarter. But while it produced more than 1,000 vehicles in the second quarter, it made only its initial deliveries, generating just $825,000 in revenue.
Production is ramping up, however, with the company saying it produced another 1,009 vehicles in July alone. But investors seem to be focusing on a guidance cut from Fisker.
Source Fool.com
