World News – United States – Fisker stock soared on day one of trading It makes no sense

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Now that Fisker and Spartan Energy Acquisition have completed their merger, changing the ticker symbol of the electric vehicle company to FSR of SPAQ, shares are up more than 13% on Friday This is the last crazy move from day one for a fleet of electric vehicles

This is not a comment on the business valuation

Fisker

(ticker: FSR), currently has a market cap of around $ 2.9 billion, which is less than once the estimated revenue in 2023

You’re here

(TSLA) is trading around six times estimated sales in 2023, although it currently sells cars and is profitable (Tesla is the world’s most valuable automaker, so comparisons with startups are tough)

What doesn’t make sense is Friday’s stock move, the latest in a series of takeovers following mergers with special-purpose acquisition companies Several firms that have borrowed this path to public procurement, in particular

Hyliion Holdings

(HYLN), Lordstown Motor (RIDE) and

Nikola

(NKLA) – all got price hikes soon after trading closed, although nothing had really changed

Their corporate structures and fundamental outlook have remained the same, and the stock numbers have all faded. Fisker stock could follow the pattern

It seems even more likely given what is happening in the industry on Friday Tesla’s stock was down 55%, as Nikola fell 75% Shares of commercial electric vehicle maker Workhorse (WHKS) fell 109%

It’s a bad day for many investors, with the

S&P 500

off 12% and the

Dow Jones Industrial Average

down 06%, but it’s brutal for shareholders of VE companies

Yet 2020 was the year of the EV Electric vehicle stocks Barron’s tracks that have full-year trading histories have risen by around 275% on average Tesla stock has risen by almost 400% and NIO (NIO) shares gained around 600%

The gains helped companies like Fisker raise billions In addition to EV companies that went public through the SPAC mergers, Li Auto (LI) and Xpeng (XPEV) listed their shares through initial public offerings traditional

Now that Fisker and Spartan Energy Acquisition have completed their merger, changing the ticker symbol of the electric vehicle company to FSR of SPAQ, shares rose more than 13% on Friday

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Fisker Inc, New York Stock Exchange, Stock Exchange, Electric Vehicle, Fisker Automotive, Special Purpose Acquisition Company

Global News – US – Fisker Stock climbed first trading day It makes no sense


SOURCE: https://www.w24news.com

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