Fisker is a company that wants a new story, and Spartan Energy Acquisition ( SPAQ) stock will give it another chance today ,when stockholders approve the merger with Fisker Inc., which will in turn change the ticker symbol from SPAQ to FSR.
According to press release Fisker has chosen Munich as the location for its European HQ. Of course stock did not move a nudge following this non-news because many investors are doubting Mr. Fisker’s ability to deliver on his promises.
The biggest problem for FSR stock.
Many small time investors poured their money into SPAQ back during the SPACs craze expecting that the share price will skyrocket once merger is announced and ticker changes to FSR.
But what they do not know is that Mr. Fisker tried the same stunt back in 2009, almost exactly the same. Read the following lines and ask yourself, which year is the this from:
In the gloomy basement cafeteria of New York’s Jacob Javits Center, Henrik Fisker is choking down a chicken sandwich and imagining a new kind of American car company. Almost everything is outsourced–engineering, components, the electric power train, manufacturing. No messy work rules to worry about, no postretirement health care. Only design and marketing remain in-house. ”It’s a great time to launch a new car company like ours,source-forbes
This, ladies and gentleman is not a Forbes article from 2020, this was a story in 2009! Yes, 11 years ago Mr. Fisker had a same dream, to make beautiful cars and outsource production to other companies. He failed even though his Fisker Karma is probably one of the best looking luxury sedans. Even today Fisker Karma looks futuristic when you sit inside and much better than many cars designed in 2020.
Another interesting thing is that there was a “Designed in California” badge inside Karma cockpit, but the car was produced in Finland , in the city called Uusikaupunki.
Back to 2020, Mr. Fisker designed more cool cars and is after new money to make his dream a reality. Still, competing in the EV market is hardly a cakewalk.So far SPAQ stock is a disappointment in terms of what the market was expecting, let us see if this will change once ticker changes, on Friday.