Why Fisker Stock Surged Again Today After an Explosive Monday
After an explosive Monday, Fisker (NYSE: FSR) stock rose even higher Tuesday morning, surging 10.8% within minutes of the market's opening. After announcing a new agreement with an institutional investor yesterday that could free up some cash for the electric vehicle (EV) maker, Fisker is trying harder to reinstate investors' faith with an important business update today.
Fisker started delivering its Ocean SUVs in mid-2023 but has struggled to scale up production and deliveries so far. Earlier this year, though, Fisker said it was implementing developing a new dealer-partnership model in North America to expand its reach and boost sales. So far, Fisker has primarily sold directly to consumers.
This morning, Fisker said it had received strong interest and was already in talks with more than 100 dealers across North America and Europe since announcing its new vehicle distribution strategy. Importantly, the EV maker expects its new distribution model to boost its cash flows.
Source Fool.com
