Why Fisker Stock Is Going Down?

Fisker stock might be down because investors have become wary of most electric vehicle stocks. Investors have been selling their more speculative, high-growth stocks with no earnings and are now favoring cyclical companies that are emerging from the pandemic-induced recession with earnings growth.

Is Fisker stock a good buy?

Turning to the rest of the Street, consensus is that Fisker is a Moderate Buy, based on 5 Buys and 2 Holds. The average Fisker price target of $26.33 implies an approximately 44.1% upside potential from current levels.

Why are the EV stocks going down?

While a couple of EV stocks were dragged down by company-specific news, the broader sell-off in the industry could be attributed to regulatory concerns, rising COVID-19 cases, shortage of microchips and geopolitical worries.