Why Fisker Stock Shot Higher Today
Electric vehicle (EV) maker Fisker (NYSE: FSR) has been putting a large effort into promoting its new sales strategy as it shifts to a dealer network model. Investors seem to be buying into the plan, too.
Today, after Fisker announced it will host a dealer open house tomorrow, shares surged as much as 17.5%. As of 12:15 p.m. ET, the stock was still holding on to a gain of 7.7%.
Fisker says it now has more than 120 dealers in North America and Europe interested in partnering with the EV start-up. The company was experiencing additional cost and logistic difficulties as it tried to ramp up its initial sales using a direct sales model for its customers.
Source Fool.com
