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FSR Stock Alert: Why Is Fisker Revving Up on Thursday?

Today, Fisker (NYSE:FSR) is one of the trending stocks retail investors are watching. A de-SPAC (special purpose acquisition company) that’s been on quite the ride of late, FSR stock has provided investors with significant volatility since going public. This is a SPAC stock that has traded in a rather wide range, as low as $8.90 per share — below its SPAC initial public offering (IPO) price — and as high as nearly $32 per share earlier this year.

Mobile phone with company logo of US electric vehicle manufacturer Fisker Inc. on screen in front of webpage
Source: T. Schneider / Shutterstock.com

Today’s price action has pegged FSR stock at just above the $16 level. Currently, investors in Fisker are seeing double-digit gains. This move brings FSR stock to its highest level in a month and has enticed momentum investors to consider this stock.

Today, positive market sentiment appears to be pervasive in the clean energy and electric vehicle (EV) world. Some news today that President Joe Biden is meeting with Democratic lawmakers to push his infrastructure bill forward seems to be stoking this sentiment. Either way, Fisker’s electric Ocean SUV has garnered a tremendous amount of attention of late.

That’s because the Ocean SUV is slated for production soon. Today, the company provided an update on its progress that has investors excited. Let’s dive into the details.

FSR Stock Higher on Upcoming Production Milestones

As many EV investors know, putting forward an idea for an electric vehicle is one thing. However, bringing said product to market is a whole other.

Today, Fisker CEO Henrik Fisker tweeted a photo that showed “A Fisker Ocean coming together at the prototype shop in the assembly plant!” A picture of a half-completed Ocean SUV appears to have done the trick. Seeing one of these puppies roll off the line is certainly a good thing. Accordingly, investors seem to like the fact that everything seems to be on track for this company’s production timeline.

Additionally, Fisker is expected to unveil its Ocean SUV at the upcoming LA Auto Show. This unveiling will happen in November, earlier than the production timeline set for 2022. Indeed, should Fisker begin selling its SUVs at scale earlier than expected, there’s a lot of potential upside with this stock.

Investors appear to be betting Fisker can grab more market share in the emerging electric SUV market. With very large rivals set to come out with new or upgraded electric SUV models, time is of the essence. Accordingly, today’s news suggesting Fisker may be ahead of schedule is very bullish for this stock.


Article printed from InvestorPlace Media, https://investorplace.com/2021/10/fsr-stock-alert-why-is-fisker-revving-up-on-thursday/.

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