Why Fisker Stock Popped 32.5% on Friday

Travis Hoium, The Motley Fool
·1-min read
Why Fisker Stock Popped 32.5% on Friday

Shares of electric vehicle (EV) upstart Fisker (NYSE: FSR) jumped as much as 35.6% on Friday after the company announced its fourth-quarter 2020 financial results. Fisker isn't generating any revenue, but the company did report a $12.0 million loss, or $0.05 per share, and cash on hand of $991.2 million. Management also said that reservations for the upcoming Fisker Ocean stood at 12,467, with the daily reservation rate increasing 400% since mid-October 2020.