Why Fisker Stock Is Jumping by Double Digits This Week
While the major U.S. indexes are hovering around gains of 3% for this week, one electric vehicle (EV) stock is blowing that away. As the start of production for Fisker's (NYSE: FSR) first vehicle approaches, its shares are surging this week. As of midmorning Friday, Fisker shares have jumped about 14% since last Friday's close, according to data provided by S&P Global Market Intelligence.
There was no major news from the company this week, but the stock had been on an extended decline. Even with this week's double-digit gain, the Fisker shares have plunged more than 25% over the last three months.
That brought the EV start-up's market cap to its lowest level as a public company, below $2 billion. That seems to have marked a bottom for some investors because the company has several growth catalysts on the horizon.
Source Fool.com
