We told our subscribers back in June that if they missed the move in Nikola or Tesla, that they should turn their attention to NIO Inc. At the time, NIO shares were trading at just $6. For those that listened to us at Insider Financial, they are now sitting on gains of over 600%.
NIO Stock Daily Chart
If you missed the move in NIO stock, don’t worry because another opportunity exists with Fisker Stock. Fisker Inc is led by automotive pioneer Henrik Fisker and his goal is to become the next Tesla. In this article, we take a look at Fisker stock and why we believe it’s not only the next Tesla but also the next NIO for investors.
Fisker Stock
First up, here’s a little background info on Fisker stock. Fisker Inc merged with SPAC Spartan Energy (SPAQ), which was financed by billionaire Leon Black’s Apollo Global Management.
Based in Los Angeles, California, Fisker is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth, supported by advanced mobility solutions.
The Fisker Ocean is a fully electric SUV with premium styling and features and has been designed to be the world’s most sustainable vehicle, including extensive use of environmentally friendly and recycled materials. The Fisker Ocean will be available to consumers through an innovative leasing package, optimized for driver convenience and accessibility.
The vehicle has won numerous awards since its debut at the Consumer Electronics Show earlier in 2020, highlighting strong market reception for this type of vehicle and for the Fisker ethos of appealing design and sustainability.
The merger resulted in Fisker stock with in excess of $1.0B of cash on its balance sheet net of transaction fees and expenses. The new company called Fisker Inc. also has no funded debt. The cash tally is expected to fund Fisker operations and the development of the Fisker Ocean program through the planned start of production in Q4 of 2022.
