The giant screech you heard Wednesday afternoon in the vicinity of the New York Stock Exchange was investors slamming the brakes on Fisker (NYSE: FSR) stock. Many eagerly traded out of the stock, which was down by low double-digit percentages in the morning before it recovered slightly to end the day 9% lower.

The immediate catalyst was a deep price target cut by an analyst, but as usual in such cases there were other factors behind the slide. With Wednesday's decline, Fisker has crashed below the $1 per-share barrier, the lowest level in its history. Perhaps this makes it a bargain for investors willing to accept a fairly high level of risk.

Fisker is hardly the electric vehicle (EV) pace-setter of the moment. Compounding its numerous struggles to produce and sell the Ocean SUV -- so far its only commercialized model -- on Tuesday the National Highway Traffic Safety Administration (NHTSA) announced that it has launched an investigation of the Ocean's braking system.

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Source Fool.com