After Crushing It at the End of 2023, Is Fisker Stock a No-Brainer Buy in 2024?
Stuck in reverse for most of 2023, Fisker (NYSE: FSR) stock had plummeted more than 78% through the first 11 months of the year. Then came December. In the last days of 2023, Fisker had two announcements that powered investors' enthusiasm so strongly that they decided to park the electric vehicle (EV) stock in their portfolios.
But does the stock's run in the last week of 2023 suggest that there's more room for shares to drive higher in 2024 and beyond? Let's kick the tires and see if this is a stock that belongs on investors' buy lists in the new year.
Back in February, investors believed there were green lights ahead for the EV company after reviewing its fourth-quarter 2022 financial results. Management projected 2023 production of about 42,000 vehicles and believed that the company would achieve an 8% to 12% gross margin for the year. Those green lights turned to red, though, and things came to a screeching halt just a few months later.
Source Fool.com
