Yesterday we saw a low of $12.23 cents. This is down considerably from the $31.96 high that was put in on March 2nd. The price was more than cut in half and this stock has been sold off with the rest of the EV companies that were brought to market through SPACs in recent months. When you look at the overall trend of the EV SPACS (NKLA, GOEV, WKHS, RMO, HYLN, QS, RIDE, XL, CHPT), it just doesn't look good.
I have been long this stock since it was still a SPAC and have been through its up's and down's. I am still holding a small position and believe a recovery is due. The question is will there be a few winners, or will the entire sector recover.
Analysts seem to think Fisker is a winner. It was upgraded by Bank of America today with a buy rating and a $31 price target. With the amount of volume today, there is still a lot of interest in this stock.
I have been long this stock since it was still a SPAC and have been through its up's and down's. I am still holding a small position and believe a recovery is due. The question is will there be a few winners, or will the entire sector recover.
Analysts seem to think Fisker is a winner. It was upgraded by Bank of America today with a buy rating and a $31 price target. With the amount of volume today, there is still a lot of interest in this stock.
Comment:
We saw a +10% swing 1 day after this post was made. It looks like the interest is there. While it may not be time to sell just yet, my advice is to take profits early and take profits often. Especially when dealing with such a volatile sector/market. You will almost always have another opportunity to buy this stock back cheaper.
Disclaimer: I am not a financial advisor. Do not take anything on here, twitter or stocktwits as financial advice, ever. Do your own research. Consult a professional investment advisor before making any investment decisions!