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EV stock Fisker opened 15% down on Tuesday: what happened?

On Tuesday, the electric vehicle (EV) stock of Fisker Inc. opened 15% down, leaving investors wondering what happened. The reason behind the sudden drop in the stock price was due to the company’s announcement of a delay in the production of its first vehicle, the Ocean SUV.

Fisker had initially planned to start production of the Ocean SUV in November 2022, but due to supply chain disruptions caused by the COVID-19 pandemic, the company has pushed back the production timeline to the fourth quarter of 2023. This delay has caused concern among investors, as it means a longer wait for revenue generation.

However, Fisker’s CEO, Henrik Fisker, has assured investors that the delay is only temporary and that the company is still on track to deliver the Ocean SUV. He also stated that the company is working on securing additional funding to support its growth plans.

Despite the setback, Fisker remains optimistic about the future of the company and the EV industry as a whole. The company has a strong pipeline of future products, including a pickup truck and a sports car, which are expected to be launched in the coming years.

In conclusion, while the delay in the production of the Ocean SUV may have caused a temporary dip in Fisker’s stock price, the company remains committed to delivering its products and expanding its presence in the EV market. Investors should keep an eye on Fisker’s progress and future announcements as the company continues to grow and innovate in the EV industry.

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