Why Fisker Stock Drove Into a Ditch Today
Just days after reporting disappointing quarterly results, Fisker (NYSE: FSR) is overhauling its distribution strategy. Investors don't appear to be on board with the change, sending shares of Fisker down 9.3% as of 11:45 Eastern Friday.
Fisker is one of a handful of electric vehicle start-ups that have entered the market in recent years and is not unique in finding it difficult to break into what has historically been a highly competitive, complex global market.
Earlier this week, Fisker shares fell nearly 20% after the company missed analyst estimates and cut its production forecast for the year.
Source Fool.com
