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Fisker’s Ocean Racks Up Over 12k Reservations

🔥Biggest Ripper: Amidst a remarkable sell-off in tech and EV stocks, American automaker Fisker Inc. bucked the market trend to deliver big returns. In trading last week, $FSR rose 57% as the company reported earnings. The earnings didn’t matter so much for the company, which is not generating any revenue. Instead, analysts focused on the 12,000 reservations for their 2022 Fisker Ocean SUV, their partnership with manufacturers, and the prospect of expanding their product portfolio. 

⬅️Last week: Over the last year, the price of everything has experienced inflation. This is because the government printed trillions of dollars to shore up the economy and prevent an all-out economic crisis during the start of the COVID-19 pandemic last March. This inflation has affected housing prices, the crypto market, and stocks. Stock investors were served caution last week as government bonds (Treasuries) started to rise. This might slow growth on the stock market or contribute to the stock market entering an extended correction. 

📈Coming up: We’ll be keeping our eye on markets and bonds this week in order to get a better idea of where markets are fixing to go. Given the prospect that a new stimulus bill will be passed, the odds of an extended correction or downturn in markets looks unlikely. However, stimulus might only be a band aid solution to keep stocks going up. Investors might not be satiated by another stimulus bill, which essentially punts this problem down the road.

Noah Weidner

Noah Weidner is a restless self-starter with a vehement interest in all things that make the world go around: culture, politics, economics and all the people in between. He writes the Bullish Rippers series and covers other interesting trends and happenings at Bullish.

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