CNBC Fast Money: Fisker Is Your Catch Up Trade

CNBC Fast Money Fisker Is Your Catch Up Trade

Fisker shares mentioned on CNBC’s Fast Money as a “catch up trade” since it has underperformed its peers over the past three months.

Tonight, on CNBC’s Fast Money, one of the traders mentioned Fisker ($FSR) in the final segment of the show. During final trades, Steve Grasso, CEO of Grasso Global, said, “I’m going to stay in the electric vehicle space. Rivian is up 50% in the last three months. Tesla is up 30% in the last three months. Fisker only up only 13%. That’s the catch up trade. Fisker.” This is the first time we’ve heard CNBC’s veteran trader, Steve Grasso, recommended Fisker shares as a final trade.

As we learned yesterday, Fisker shares were initiated with a new Buy rating and $12 price target at Needham and Company. Equity analyst Vikram Bagri initiated Fisker with a Buy rating, Tesla with a Hold rating, and Lucid with a Sell rating. Bagri is bullish on Fisker for various reasons, including the vast opportunity ahead he sees for the company as it enters the electric vehicle market. Apparently, Steve Grasso, thinks the stock is undervalued amongst its peers too.

Fisker shares closed the day down -2.30% at $8.94/share. The stock is trading up +1.12% at $9.04 in extended hours trading. 12.01 million shares traded hands today, which is more than double average daily volume of 5.04 million shares. Fisker shares have a 52-week low of $7.95/share and high of $23.75/share. Over the past month, short interest in Fisker shares has declined from 35.04% to 31.12% where it stands this afternoon.

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