Why Is Fisker (FSR) Stock Up Today?

  • Fisker’s (FSR) Ocean model electric vehicle (EV) rolled off the production line yesterday.
  • The company also announced that the Ocean will make an appearance at the Oslo Motor Show.
  • FSR stock is powering toward $10 today on these developments.
Mobile phone with company logo of US electric vehicle manufacturer Fisker Inc. on screen in front of webpage
Source: T. Schneider / Shutterstock.com

A lot has been going on with electric vehicle (EV) maker Fisker (NYSE:FSR) lately. First of all, the EV maker just hit a new milestone; the first Fisker Ocean rolled off the production line yesterday. But Fisker also just revealed that the Ocean will make its Norwegian debut at the 2022 Oslo Motor Show. Now, FSR stock is shooting up on the news.

This has been long time coming. Founder and CEO Henrik Fisker’s vision has finally come to fruition, with his EV startup rolling out its first Fisker Ocean electric vehicle. The EV happened to be Mariana blue, too — a fitting choice given the name of the model. A milestone moment, the CEO proudly posted about the news on social media:

“Wooooow!!!! 1st car being assembled on the actual line at the Magna manufacturing plant […] next is certification!”

Here’s what FSR stock investors should know as this latest news affects shares today.

What’s Happening With FSR Stock?

Evidently, CEO Henrik Fisker isn’t the only one excited about the news. Today, traders are bidding FSR stock up toward the $10 level. They do still have some catching up to do, however; the stock originally started 2022 near $17 per share.

Nonetheless, today is clearly a moment of celebration for the company and its stakeholders. Besides, the rollout of the first Ocean unit isn’t Fisker’s only recent revelation. Yesterday, it also revealed that the Ocean will be displayed at this year’s Oslo Motor Show, marking its debut in Norway.

Oslo could prove to be a hub of activity for Fisker and its fans. A company press release notes that the EV maker “plans to open a Fisker Lounge and a Center+ in Oslo, offering sales, service, and deliveries.”

At the auto show, the company plans to show off a “pair of production-intent top trim Fisker Ocean Extremes.” Each will feature a panoramic roof and a “stunning, clean aesthetic inside and out.”

EV aficionados ought to be impressed, as should FSR stock traders with their profits today.

On the date of publication, David Moadel 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.

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Motley Fool, Crush the Street, Market Realist, TalkMarkets, TipRanks, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.

Article printed from InvestorPlace Media, https://investorplace.com/2022/09/why-is-fisker-fsr-stock-up-today-2/.

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