Why Fisker Stock Continued to Plunge Today
Fisker (NYSE: FSR) has had a rough start to the year. Shares have plummeted more than 30% over the last five days. That trend continued today, with the stock down by 11.3% as of 12:55 p.m. ET.
Last week, the electric vehicle (EV) maker announced a major change in its sales strategy to jump-start sales of its electric Ocean SUV and shave down unexpectedly high delivery costs. The Ocean is manufactured by contract partner Magna International at a factory in Austria. That strategic change seemed to rattle investor confidence in the EV start-up.
Source Fool.com
