This week marked a significant development in the world of Fisker with 60 days left until the official start of Fisker Ocean production.
Today, we are 60 days, or eight weeks, away from the official start of Fisker Ocean production. As it comes to a close, this week in Fisker was an eventful week in the world of Fisker. We received everything from a major milestone and investor updates to new photos and dates on the Fisker Ocean European Tour and what to expect when Henrik Fisker visits Magna Steyr next week.
The Significant Event
Henrik Fisker kicked off the week by sharing a photo of the Fisker Ocean on the high volume assembly line at Magna Steyr. No one would have expected the next update from Henrik. A day later, the same Fisker Ocean was fully assembled. On Tuesday, we were the first to report the major achievement. The following day, The Street saw the story and ran an article titled, Fisker Hits a Major Milestone on Road to Affordable EVs for All. This was a significant milestone in company history and for all stakeholders involved in the Fisker Ocean program.
Throughout the week, Henrik shared additional photos of the Fisker Ocean on the high volume production line at Magna. We got to see the Fisker Ocean painted in both Mariana and Night Drive, which were firsts for reservation holders. Next week, Henrik will be visiting Magna Steyr in Graz, Austria to review and test drive the latest production intent vehicles. Typically, we get a lot of updates from Fisker when the Chairman & CEO visits the factory. We expect to see more photos and likely videos from Henrik. Maybe we’ll see photos and footage from the factory floor or Henrik behind the wheel of a production intent vehicle.
Investor Updates
Fisker investors received welcoming news on many fronts throughout the week. Firstly, Needham and Company initiated Fisker with a Buy rating and $12/share price target.
Secondly, Henrik didn’t stop there with sharing updates out of Magna. He joined Adam Jonas at a Morgan Stanley Investor Conference in Laguna Beach. While the financial company didn’t provide a video feed, we got to listen in to the two discuss the latest Fisker business strategy and Fisker Ocean updates. Henrik shared new updates about US production for the Fisker Ocean and details about the Fisker PEAR.
Thirdly, on Friday afternoon Fisker was the final trade on CNBC’s Fast Money for a veteran trader. He cited Fisker shares underperforming its peers and was a catch up trade. Fisker shares closed the week at $8.94/share up +3.95%.
European Tour
Fisker added a bunch of new dates on its European Tour throughout the week. The Fisker Ocean now has several additional stops confirmed by the company. For example, the next stop for the Fisker Ocean is the capital of Sweden from September 19th through 24th. It will be located at the Westfield Mall of Scandinavia.
Next, the Fisker Ocean will visit Cologne, Germany. You will be able to see the Fisker Ocean in front of the Hyatt Regency on the Rhine promenade in Cologne from September 30th through October 1st.
Then, the Fisker Ocean will stop at the Oslo Motor Show in October followed by the Paris Auto Show. As for event goers in North America, we are awaiting new dates for the USA Tour of the Fisker Ocean. As soon as we hear more we’ll be sure to let you know.
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