Why Fisker Stock Is Racing Higher Today
Fisker (NYSE: FSR) reported second-quarter vehicle production figures this morning, and the market is interpreting it as a green flag. While the announcement wasn't completely positive, investors are instead focusing on the positives and positioning the electric vehicle maker's stock to end the week higher than where it began.
As of 12:05 a.m. ET on Friday, shares of Fisker are up 7.5%.
Producing 1,022 Ocean SUVs in the second quarter, Fisker failed to achieve its targeted production volume of 1,400 to 1,700 vehicles due to weak links in the supply chain. According to management, a few of its suppliers "had challenges ramping to the targeted Q2 levels, as they did not receive components from sub-suppliers in a timely manner."
Source Fool.com
