Down 75% Last Year, Is Fisker a Buy in 2024?
The idea of finding a young electric vehicle (EV) maker poised to soar for years similar to is obviously enticing, but for many young EV makers, 2023 wasn't so kind. For instance, California-based Fisker (NYSE: FSR) was hit hard as the EV maker drove over a number of speed bumps -- sending its stock sliding 75% lower last year. But is there light at the end of the tunnel in 2024?
Fisker had a rough year, no doubt about it, but the stock was relatively stable through the first three quarters of the year before plunging in October and November as negative headlines abounded.
For Fisker shareholders, it likely was frustrating to watch rivals, such as Rivian Automotive, pop over the same time frame. Part of Fisker's plunge was due to Tesla's price war, when the latter made it clear to competitors and investors that it would sacrifice profitability for incremental volume.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 248 € shows a very positive potential of 58.79% compared to the current price of 156.18 € for Tesla Inc.
