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Why Fisker Stock Climbed 45.4% in June

TheMotleyFool

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Shares of Fisker (NYSE: FSR) stock crushed the market in June, climbing 45.4% according to data from S&P Global Market Intelligence. The catalyst for the rapid rise was an announcement that the company has signed a manufacturing contract with Magna (NYSE: MGA) and the stock's addition to the Russell 3000 index on June 28.

It is also possible that Wall Street Bets traders on Reddit are converging on Fisker stock again, which could be why the price has risen so much in such a short time period.

Image source: Getty Images.

Source Fool.com

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