Nikola (NKLA) and Fisker (FSR) tee as much as report for a 3rd quarter marked by accelerating efforts to launch their first electrical automobiles.
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Each new EV shares emerged in 2020 by way of blank-check mergers, as traders hunted for the following Tesla (TSLA). In contrast to soon-to-IPO Rivian, which started EV pickup deliveries in September and Lucid Motors (LCID), which started deliveries on Oct. 30, Nikola and Fisker nonetheless haven’t produced or delivered any EVs.
Fisker Earnings
Estimates: Wall Avenue expects Fisker to lose 37 cents a share on zero income. There aren’t any year-ago figures.
Outcomes: Verify again late Wednesday.
In August, Fisker reiterated a goal to start producing its first electric vehicle, the Ocean SUV, in November 2022, regardless of chip headwinds. Then Morgan Stanley analysts turned bullish on FSR stock, saying it is one of many few startups more likely to launch electrical automobiles on time. Additionally they like Fisker’s “asset-light, design-centered” enterprise mannequin. Magna (MGA) will make the upcoming Ocean SUV, designed by Fisker.
Fisker Inventory
Shares surged almost 16% to 16.03 in final week’s stock market trading. Fisker inventory has simply reclaimed its 50-day line however stays almost 50% under its all-time excessive.
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Nikola Earnings
Estimates: Analysts see Nikola widening losses to 26 cents a share from 16 cents a 12 months in the past, on zero income.
Outcomes: Verify again early Thursday.
Nikola Inventory
Shares of the embattled EV startup leapt 11% to 11.80 final week. Nikola inventory peaked at 93.99 in June 2020.
In September, Nikola showcased a production line for its first electric heavy-duty trucks at companion Iveco’s German plant. It additionally inked a key manufacturing pact with Germany’s Bosch.
Nikola expects to ship the primary Tre battery-electric vehicles to U.S. prospects early subsequent 12 months. A fuel-cell model follows by the top of 2023. Nikola suffered a sequence of blows previously 12 months. Its woes started after Hindenburg Analysis, a famous short-seller, accused it of fraud and lies. However the EV startup’s trying to flip the web page beneath new administration.
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