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Fisker Inc. (FSR)

NYSE - NYSE Delayed Price. Currency in USD
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10.17-0.21 (-2.02%)
At close: 04:00PM EDT
10.13 -0.04 (-0.39%)
After hours: 07:59PM EDT
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  • S
    Skurf56
    • Fisker enables qualifying US Fisker Ocean reservation holders, in advance of the bill’s passage, to enter a binding contract with the automaker to purchase a vehicle, retaining potential eligibility for the current federal tax credit of up to $7,500.
    • The current draft of the Inflation Reduction Act includes a North American production requirement that renders Fisker Ocean buyers ineligible for the proposed tax credit.
    • US-based Fisker Ocean reservation holders are not required to commit additional funds to convert deposits to non-refundable orders.
    • The Fisker Ocean will commence production on November 17, 2022, and ramp up to 40,000-50,000 units in 2023.
  • k
    k
    HENRIK FISKER: Well, very good. As we said yesterday on our earnings call, we have our manufacturing partner, Magna, have already built 55 vehicles and continue to build vehicles. And we received a couple of really nice test vehicles to drive around in LA a couple of days ago. So it's not like we are starting to suddenly build cars. We have built cars the entire year.

    And we have also, I think, managed our supply chain really well. So we are still on schedule. I think we might be the only EV company that has not delayed production or lowered our production forecast. In fact, we're trying to increase our production next year due to the high demand we see on our vehicles.
  • B
    BeanoBill
    DEV, what’s your handle over on Twits ?
    Bullish
  • S
    Skurf56
    Many of our reservation holders are looking forward to the tax advantages of purchasing an electric vehicle. Therefore, we acted swiftly and proactively to protect access to existing tax credits for qualifying Fisker Ocean buyers should the Inflation Reduction Act become law. We are focused on a clean future for all, so we are building the Fisker Ocean in one of the world’s most sustainable production facilities, Magna’s carbon-neutral factory in Graz, Austria," Chairman and CEO Henrik Fisker said.
    "Our reservation holders have given us a vote of confidence, with 5,000 recently committing $5,000* each to secure a Fisker Ocean One launch edition vehicle," he added. "So, we need to do this work on their behalf to show that we have their best interests at heart."
    Fisker is not requesting additional payments from reservation holders but instead converting the existing $250 for the first reservation and $100 for the second reservation deposits to non-refundable orders. This ordering system remains in effect until The Inflation Reduction Act is passed and signed into law. At that time, this order process will close.
    In the US, the Fisker Ocean starts at $37,4992 in the base Sport. The Ultra trim retails for $49,9992 and the top trim Extreme is priced at $68,9992. The five-passenger SUV is designed and engineered in Manhattan Beach, California.
    On August 3, 2022, Fisker reaffirmed its start of production date for November 17, 2022, and its 2023 production plans of 40,000-50,000 Fisker Ocean units, aligned with the company's financial strategy and timeline. Fisker's asset-light foundation offers scale benefits and speed to market while significantly reducing the complexities, risks, and fixed costs of a fully integrated approach. In addition, the company is focused on maintaining a sound liquidity profile and prudent capital structure
  • j
    justanobservation
    Foxconn said on their recent visit to Lordstown, that there will be another manufacturer coming to the Lordstown plant but they were not at liberty to say who, don’t be surprised if Magna is the manufacturer, building the Ocean for Fisker
  • S
    Skurf56
    Is it going to close at 10+ ?
  • R
    Rhonda
    so Adam Jonas says "I was wrong in 2019, 2020, 2021, and now you must listen to me in 2022.
  • r
    rocco
    Totally forgot that Magna owns 6% of fisker...this ensures top attention ...could easily lowever capital requirements
  • S
    Skurf56
    From Fisker. In case you missed it, here is a quick
    recap:
    All 5,000 pre-orders for the launch
    edition Fisker Ocean One are fully
    subscribed. Due to increased
    demand, a waitlist will open on
    August 15th.
    Fisker Ocean reservations totaled
    more than 56,000 as of August 1,
    2022, including 5,000 Ocean One
    pre-orders.
    Vehicle testing and validation
    phase progressing well; all 55
    complete Fisker Ocean prototypes
    built.
    Two prototype vehicles were
    recently delivered to Fisker's
    Manhattan Beach HQ.
    Debuted the Fisker Ocean in
    France and the United Kingdom in
    June 2022.
    We will be opening up pre-orders for
    Fisker Ocean Extreme trim on November
    18, 2022 and Ultra and Sport trims in Q1
    2023. Reserve your Fisker Ocean now.
  • r
    rocco
    Memba this...now relevent

    Morgan Stanley analyst Adam Jonas resumes coverage on Fisker (NYSE: FSR) with an Overweight rating and a price target of $40.00. The analyst sets a new $90 bull case.

    The analyst comments "Among an ever increasing range of EV manufacturers, what attracts us to Fisker is the company's focused strategy on design and engineering and supply chain while leveraging the Magna-Steyr relationship in contract manufacturing to derisk the ramp, accelerate time to market and provide a path to scale and profitability. We believe Fisker is meant to display the power of what can happen when a clean-sheet approach leverages Magna's contract manufacturing. The shared/vested interest and Fisker's design and experience, combined with reasonable valuation underpins the Overweight
  • M
    M
    Nice recovery from the stop loss raid this morning.
    Bullish
  • P
    PizzaPizza
    Every post on this board should be prefaced with "Adam Jonas has a 14% success rate calling FSR"
  • S
    Skurf56
    • Q2 2022 operating results consistent with company expectations; full-year total spending guidance unchanged.
    • Vehicle testing and validation phase progressing well; all 55 complete Fisker Ocean prototypes built and performing various final testing before SOP on November 17, 2022.
    • Sold out all 5,000 pre-orders for the launch edition Fisker Ocean One, secured by $5,000 down payments from each customer.*
    • Consumer demand remains strong. Fisker Ocean reservations totaled more than 56,000 as of August 1, 2022, including 5,000 Ocean One pre-orders secured by $5,000 down payments.
    • Debuted the Fisker Ocean in France and the United Kingdom in June 2022.
    • Confirmed Fisker PEAR, using the Fisker-developed SLV1 platform, will be manufactured at Foxconn’s newly acquired plant in Ohio.
  • m
    mark
    saw interview on yahoo finance where henrick said that ev production would be 400k vehicles in 2024. in the past he stated that the pear would be 250k so they must be planning for 150k of the ocean that year. if this comes true that would mean revenues from the ocean of probably over $6b (150k x $40k average selling price). he has already said that prices will be likely going up in the future so the $40k price is likely low. add in 150k units of the pear at $30k and that adds $4.5b more in revs. so in 2 years time fsr could be generating over $10b in revs. use a 2x revs multiple that would imply $20b market cap or 7x current value. if the numbers work out this is a great deal but i am prepared for the negative replies. only time will tell.
  • D
    Dee Z. Nutts
    I remember when the bear case was Fisker was TOO LATE to production and other companies would own the market by the time Fisker started producing vehicles.
    Looks more like PERFECT TIMING to me. NOBODY owns the market.
  • S
    Skurf56
    Volume is better than it has been, but not nearly enough for this to run away.
  • D
    Derrick
    They filled all 5,000 Ocean One Preorders... All with $5,000 deposits.
  • j
    justanobservation
    Adam Jonas……. February 2021, I’m initiating coverage of Fsr with a conservative pt of 40.00 and Bull Case of 90.00 fast forward….. August of 2022…… I’m revising my coverage on FSR with a pt of 10.00 because I’m so good at this. Just look at my track record, it speaks for itself
  • B
    BeanoBill
    Sold out !! That’s $350,000,000 in 2023 1st quarter revenue.
    Bullish
  • I
    IC
    At 3b market cap and 56K car reservation and production start in a couple of months, this is a pretty low evaluation and should be much higher.
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