In a day when many EV stock jumped, almost 20%, FSR got a “flop of the day” award.
Investors are jumping ships and fast, seems like nothing can stop FSR stock from plunging into the abyss. Many investors, scared that they are missing on an opportunity, are selling FSR and buying NIO, XPEV and NIU.
In a day that is the best day for EVs this year so far, FSR managed to have another red day.
But some FSR investors are not losing the faith:”NIO is expected to do sales of roughly 40k cars this year. FSR expects to do 50k-100k in 2023 and 2024. Also, US play vs. Chinese play. Food for thought.”
I am not sure this reasoning is rational, especially if we have in mind that NIO is delivering thousands of vehicles each month already, while Fisker may deliver vehicles in the future, if everything goes right.
What is next for FSR stock?
Fisker shares are a prime example of “do not fall in love with stocks” expression, and especially if the guy that runs a company already failed to profit on EVs.
The best case scenario for FSR shares is the bleeding will stop. The worst case scenario is- nothing is going to happen with Fisker production, at least nothing of a huge importance. So, be prepared to wait a long time to see the profits and 20% a day rally. Such as the one we saw today at all the Chinese EV stocks.