Home Automotive Fisker shares up 30% on profit potential and ‘game changer’ charging deal

Fisker shares up 30% on profit potential and ‘game changer’ charging deal

by TodayDigitNews@gmail.com
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Mark Matsek/Business Insider
  • Fisker shares surged 30% on Monday after updates from the EV maker.
  • The company expects to be profitable this year and said it has reached an agreement for access to charging stations in North America.
  • Ocean SUV bookings increased in the fourth quarter.

Fisker Shares surged by Monday as calls for profitability by electric-vehicle makers and agreements on charging stations appeared to override weaker-than-expected quarterly losses.

The stock jumped 36% to $7.75, the highest for more than two weeks.

surged after the release of The company’s fourth quarter resultsIn it, Fisker reiterated a 2023 production target of up to 42,400 units, a contrast to last week’s target. Weak production targets for EV rival Lucid to address supply chain issues.

Fisker also said there were about 65,000 reservations for the Ocean SUV, up from 62,000 at the end of October.

Additionally, management expects earnings before interest, taxes, depreciation and amortization to be “potentially positive” in 2023.

“Our reserves continue to grow. We plan to be profitable this year, which is very unusual for a start-up EV company,” said CEO Henrik Fisker. fox business on monday.

The company also said it signed a deal on Monday charge point Accessible by Fisker EV owners 210,000+ active ports Over 400,000 roaming ports in North America.

mention a rival TeslaFisker told Fox Business that the company run by Elon Musk has 7,000 chargers in the United States. Tesla says it has over 40,000 Superchargers worldwide.

“ChargePoint and its affiliates have 400,000…so I think this is definitely a game changer. Charging Fisker Ocean will be very easy,” says Fisker.

Fisker posted a loss of $0.54 per share in the fourth quarter, higher than a loss of $0.47 a year ago and a loss of $0.41 per share predicted by analysts’ FactSet survey. was also bad.

Fisker’s stock took a big hit last year, with its market capitalization down 51% to $2.26 billion.

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