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Fisker stock up 5%, recouping earlier losses after short-seller report

12/2/22 12:13 PM ET (MarketWatch)Print

Fisker Inc. stock is poised to end the week in the black, up 3% on Friday following losses of more than 5% in the prior session after short-seller Fuzzy Panda said the electric-vehicle maker had a "history of lies," essentially alleging that Fisker's cash was tied up and about to run out. Fisker responded to the report late Thursday, saying it sent the short-seller a cease-and-desist letter that Fuzzy Panda's assessment contained "numerous false and misleading allegations about Fisker's business operations" and the relationship with manufacturing partner Magna International Inc. Fisker's weekly gains tally up to 2%. The stock is down 51% for the year, compared with losses of around 15% for the S&P 500 index.

-Claudia Assis

(END) Dow Jones Newswires