Why Shares of Fisker Are Crashing This Week
While the S 500 seems poised to lock in a gain for the week, shares of electric vehicle (EV) upstart Fisker (NYSE: FSR) are driving in the other direction.
Investors are choosing to unplug Fisker stock from their portfolios for two reasons. First, investors are losing confidence in the company after it reported that it has received a noncompliance letter from the New York stock Exchange (NYSE). Also, the company is now under investigation regarding a vehicle safety concern.
As of 12:40 p.m. ET on Thursday, shares of Fisker have plunged 26% since the market's close last week, according to data provided by S&P Global Market Intelligence.
Source Fool.com
