FSR Stock Looks Hot as Fisker Unveils ‘Project Ronin’ Electric Sportscar

Today, California-based electric vehicle (EV) company Fisker (NYSE:FSR) is catching headlines after unveiling its third vehicle, codenamed “Project Ronin.” Unfortunately, the news hasn’t been enough to lift FSR stock. Shares are treading in the red at the time of writing.

The Fisker logo hangs on display at the November 2011 International Auto Show.
Source: Eric Broder Van Dyke / Shutterstock.com

What do you need to know about Fisker today?

Well, this morning CEO Henrik Fisker posted a somewhat mysterious picture of the company’s new sports car to social media. In the post, Fisker offered details on the EV, highlighting its 550 mile-plus range, integrated battery pack and lower weight. The CEO also offered a preliminary price point of $200,000, the same base price as Tesla’s (NASDAQ:TSLA) Roadster sports car. Per the post, Fisker plans to show off a prototype for the vehicle in August of next year.

This news comes as the latest in Fisker’s EV vision. The Ronin represents the third EV in the company’s roster, joining the Ocean crossover SUV and the to-be-released “Project PEAR.”

Unfortunately, though — despite the promising update — FSR stock is down about 3% so far today. So, what else do you need to know about Fisker right now?

FSR Stock Sluggish Despite ‘Project Ronin’ Announcement

Today’s news comes as a hopeful sign of things to come for FSR stock investors. Fisker shares have been in a state of limbo for years now as the stock has been largely unable to capitalize on any company momentum. Since achieving an all-time high of around $29 in February 2021, FSR stock has been on something of a rollercoaster. With today’s losses, it’s currently trending just below $10, close to its all-time low.

Fisker is perhaps best-known for the solar roofs that power its emissions-less vehicles. With Fisker’s Ocean model, consumers can expect up to 350 miles per charge, depending on the weather and other relevant conditions.

Of course, the company’s vehicles are still pre-delivery. The Ocean is expected to release some time in 2023, starting at $37,499. However, Fisker has been pegged as a potential “Tesla Killer” — and perhaps reasonably so.

Just this past week, Henrik Fisker deleted his Twitter (NYSE:TWTR) account following rival Tesla CEO Elon Musk’s acquisition of the platform. Whether Fisker can rival Tesla in sales remains to be seen.

On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/05/fsr-stock-looks-hot-as-fisker-unveils-project-ronin-electric-sportscar/.

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