Why Electric Vehicle Star Fisker Zoomed Higher Today
Fisker (NYSE: FSR), the high-end electric vehicle (EV) manufacturer, saw its shares rise by nearly 9% on Tuesday. That was thanks to a quarterly earnings report that had several encouraging pronouncements and, more directly, to a new order from across the Atlantic.
In its Q1, Fisker -- which hasn't yet brought its Ocean SUV to market -- eked out revenue of roughly $22,000, up from basically nothing in the year-ago quarter or in Q4 2020. On a quarter-over-quarter basis, operating expenses rose 6% to $33.1 million, while the GAAP net loss deepened to nearly $177 million ($0.63 per share) from the preceding $86.7 million.
Image source: Fisker.
Source Fool.com