Fisker Stock Surges on Quadrupled EV Deliveries

Shares are down more than 77% in 2023

Digital Content Manager
Dec 29, 2023 at 10:28 AM
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Fisker Inc (NYSE:FSR) quadrupled electric vehicle (EV) deliveries for the fourth quarter amid strong demand for its Ocean SUV, with total deliveries for the year coming in at 4,700 despite beginning only in June.

FSR is up 18.3% at $1.78 at last check, and could today move back above its 20-day moving average for the first time since October, when it first slipped into penny stock territory. Shares are down 77.6% for 2023, after their Dec. 13, record low of $1.35.

The options pits are exploding with activity today, with 46,000 calls and 5,001 puts traded, which is nine times the intraday average volume. Most active by far is the weekly 12/29 2-strike call, where new positions are being opened. This means traders expect additional upside for FSR by today's close.

Calls have been extremely popular lately, per Fisker stock's 10-day call/put volume ratio of 6.38 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio stands higher than 85% of readings from the past year.

 

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