Friday’s trading saw electric car maker Fisker (NYSE:FSR) drop over 8%. The biggest reason for the decline was one we’ve all heard before: costs. Fisker got word from its key supplier, Magna International (NYSE:MGA), that all the old, familiar issues in the supply chain are still in play. Worse, they’re not getting any better. Magna’s CEO, Swamy Kotagiri, noted that original equipment manufacturer (OEM) and semiconductor supply constraints are still hitting production schedules hard. That’s bad news for Fisker, as reports note the Austria plant at Magna now handles production.
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The company seemed to have high hopes for the Ocean, too; Henrik Fisker was recently photographed inside a Fisker Ocean. Specifically, it was one with right-hand drive specifically for drivers in the U.K. FSR investors will likely also ask some unsettling questions in the coming days. One question involves the current delivery status of the 15-vehicle commercial fleet. Another wonders about how many canceled reservations the Fisker Ocean has so far.
A look at the last five days in Fisker stock trading shows a company that’s been on the decline recently. There was a small drop back on Tuesday, from which Fisker recovered. Thursday, however, brought the start of a much sharper drop that went on into Friday before finally starting to level off.
