Why Fisker Stock Is Trading Lower Monday

Shareholders in electric vehicle (EV) company Fisker (NYSE: FSR) enjoyed a more than 50% gain in the last week. Last week was eventful for Fisker after it announced a new partnership with technology company Foxconn with plans to manufacture at least 250,000 electric vehicles annually. A day later, Fisker announced in its fourth-quarter and full-year 2020 earnings, reporting that it now has 12,467 reservations for its upcoming electric Ocean SUV, with the daily reservation rate up 400% since mid-October 2020.