Fisker’s Stock Soars as Ev Maker to Announce Plan to Boost Sales, Deliveries

Fisker Inc. witnessed a significant surge in its stock value on Friday, following the electric vehicle manufacturer's announcement of plans to expedite sales and deliveries, with the details set to be revealed in January. As part of its strategic outlook for 2024, the company disclosed intentions to amplify the frequency of test-drive events across the United States and Europe. This decision stems from the company's observation of heightened sales rates when potential customers had the opportunity to experience the Fisker Ocean vehicles firsthand.

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In the premarket trading session, the stock, denoted as FSR and reflecting a notable 13.28% increase, signaled a potential opening at a one-month high. This positive trajectory positioned the stock at approximately 19% above the record closing low of $1.41 recorded on December 6.

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In addition to outlining its forward-looking plans, Fisker offered insights into its performance in 2023, marking a pivotal year during which the electric vehicle manufacturer transitioned into a "revenue-generating company." Notably, Fisker reported the production of 10,142 electric vehicles in 2023, overcoming challenges arising from supply chain disruptions associated with the COVID-19 pandemic. The company highlighted that it has largely mitigated the adverse effects of these supply chain issues.

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Furthermore, Fisker reported a total of approximately 4,700 deliveries in 2023, representing a noteworthy surge of over 300% from the third quarter to the fourth quarter of the year. The predominant model among the delivered electric vehicles was the Fisker Ocean One, priced at $68,999.

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Despite these positive developments, the stock has experienced a considerable decline of 79.2% year-to-date as of Thursday. In contrast, the Global X Autonomous & Electric Vehicles ETF, represented by the symbol DRIV, demonstrated a contrasting upward trend with a gain of 25.3% over the same period. The broader market, as measured by the S&P 500 index, also witnessed growth, registering a 24.6% increase during the same timeframe.

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Fisker's journey in 2023 reflects a resilient response to the challenges posed by the pandemic-related disruptions, with the company successfully navigating supply chain obstacles. The surge in deliveries and the focus on the Fisker Ocean One as a flagship model underscore the company's commitment to expanding its market presence and capturing the interest of potential buyers.

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As the electric vehicle industry continues to evolve, Fisker's strategic emphasis on test-drive events and its plans for accelerated sales and deliveries in 2024 signal a proactive approach to engage consumers and capitalize on the growing demand for sustainable transportation solutions. Investors and industry observers will be closely watching the forthcoming announcements in January to gain deeper insights into Fisker's roadmap and potential catalysts for its stock performance in the coming year.