Why Fisker's Stock Is Trading Higher Today

Fisker Inc FSR is trading higher Tuesday after the company announced a partnership with Onto, a UK-based electric car subscription service company.

What Happened: Fisker signed an agreement with Onto for the delivery of up to 700 vehicles in 2023. 

“Our focus for business-to-business reservations is on high-quality companies that share our commitment to deliver an outstanding customer experience. Our partnership with Onto is a significant step in rapidly building our presence in the UK electric vehicle market,” said Henrik Fisker, CEO of Fisker. 

On Monday, Fisker reported an earnings loss of 63 cents per share, which came in below the estimate for a loss of 19 cents per share. 

See Also: Fisker Won't Follow In Tesla's Footsteps To Invest In, Or Accept, Bitcoin, Says CEO

Price Action: Fisker traded as high as $31.96 and as low as $9.61 since it began trading on the New York Stock Exchange on Oct. 30, 2020.

At last check Tuesday, the stock was up 10.90% at $12.44.

Photo courtesy of Fisker.