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Why Fisker Stock Popped Monday Morning

TheMotleyFool

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Why Fisker Stock Popped Monday MorningPhoto, wide shot, wide-angle lens, soft focus, Car rental company, sunset photo at golden hour, photo by Art Wolfe: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-Ew7cRec38UnlyYzs41FVEri5.png?st=2023-12-29T14%3A03%3A41Z&se=2023-12-29T16%3A03%3A41Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-12-29T15%3A03%3A25Z&ske=2023-12-30T15%3A03%3A25Z&sks=b&skv=2021-08-06&sig=vZPI3wL5I%2BC5Zknik6hYtwmYdTdsE1ct/DM1evRA8EI%3D

Shares of electric vehicle (EV) maker Fisker (NYSE: FSR) tanked last week after the company released its third-quarter financial and operational report. The stock is down 36% since last week's report.

But the EV start-up provided another update on Friday, and investors are now buying the dip. Shares popped as much as 11% this morning, and remained higher by 6.7% as of 10:35 a.m. ET.

Investors crushed the stock after the company said it only delivered about 1,100 vehicles in the third quarter even after it produced 4,725 EVs. The company noted in the release that deliveries accelerated in October, but that didn't stem the flow out of the stock.

Source Fool.com

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