Is it time to buy Fisker when they go public?
Jim Cramer has some thoughts on Fisker after interviewing the CEO on Mad Money.
"For his final "Executive Decision" segment, Cramer welcomed Henrik Fisker, founder, chairman and CEO at Fisker, the electric automaker which will be merging with Spartan Energy Acquisition Corp. (SPAQ) - Get Report to become a publicly held company next week," TheStreet's Scott Rutt wrote in his Mad Money recap.
"Fisker said the auto industry is one of the most complex in the world and so far, only two people have brought electric vehicles to market from scratch and that's Elon Musk and himself. Fisker said he has learned from his past failures with the Karma, an EV that was introduced a year before Tesla. Back then, battery technology was in its infancy and the market wasn't ready for high-volume electric cars. Today, however, the market is different, Fisker said. They've partnered with Magna MGA, which has invested 6% in Fisker. Fisker's new SUV, the Ocean, will be built on a shared Magna platform, which means the costs are known and the car can be produced with quality and scale from day one. Fisker will then use a direct sales model to sell the car, at a profit, direct to customers."
Latest Videos From TheStreet and Jim Cramer:
- Jim Cramer Says Earnings Pinpoint Stocks to Buy With or Without Stimulus
- PPE and Your Portfolio: Inside a Disruptive Industry
- PPE in the Ring: How O2 Industries Partnered With UFC
- PPE and the Supply Chain: How O2 Industries Adapted During Pandemic
- Coronavirus: The Latest Numbers on the COVID-19 Pandemic
- How Much Do World Series Tickets Cost in 2020?
- How to Protect Your Portfolio for Any Election Outcome