As Fisker Stock Drops to Record Lows, Should You Buy or Sell?

This has been a tumultuous year for startup electric vehicle (EV) companies, and most are struggling with selling cars - while some, like Lordstown Motors (RIDEQ), simply went out of business. Multiple EV stocks, including Rivian (RIVN), Lucid Motors (LCID), Nikola (NKLA), and Fisker (FSR), have all fallen to record lows at various points this year.

While most of these names have moved off their lows, Fisker hit a new low of $1.76 just earlier today. The recent slide in FSR is more of a company-specific issue, beyond the broad-based sell-off in startup EV names that we’ve seen over the year. Here’s why Fisker stock is dropping, and whether you should buy or sell the stock near its record lows.