Jim Cramer: Robinhood Investors 'Will Look at Fisker'
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."
You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.
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