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

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Fisker Inc. FSR, +4.30% 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. MGA, -0.54% 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. SPX, -0.57%

This article was originally published by Marketwatch.com. Read the original article here.

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