Why Fisker Stock Jumped More Than 10% This Morning
Shares of young electric vehicle (EV) manufacturer Fisker (NYSE: FSR) surged Thursday morning, rising as much as 10.6% within minutes of the market's opening before giving up some of those gains -- shares were trading around 6% higher as of noon ET.
The EV stock has been in the headlines for all the wrong reasons lately, including production outlook cuts, delayed earnings release, and management changes, among other things. The stock, unsurprisingly, crashed in recent weeks, compelling CEO Henrik Fisker to address the fall through a statement released on Wednesday after the markets closed.
Henrik Fisker believes the "negative reports about the company have been overblown." Elaborating on why he thinks so, he highlighted how the company has achieved many "firsts" in the industry, including delivering a sustainable EV in the "longest range" in its category and launching EVs in 11 countries.
Source Fool.com
