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Why Fisker Shares Soared Friday

TheMotleyFool

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Why Fisker Shares Soared Friday: https://g.foolcdn.com/editorial/images/756797/fisker-blue-ocean.png

Fisker (NYSE: FSR) released a business update today, lowering the vehicle production guidance it had just provided less than three weeks ago. Yet the stock is soaring. As of 1:35 p.m. ET, shares of the electric vehicle (EV) maker were higher by 11%.

The stock is rising thanks to what the company said was the reason for the reduced production estimate. Shares are also rebounding after a 73% decline over the last three months.

Source Fool.com

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