Fisker’s Stock Becomes a Meme Stock, According to Stocktwits

January 20, 2024 | by


Fisker’s stock has garnered attention as it is being referred to as a “meme stock” by Stocktwits, according to lead writer Tom Bruni. The electric-vehicle company gained popularity among retail investors when it went public during the pandemic, but has since struggled to meet its projected business results. Similar to other meme stocks like AMC Entertainment Holdings Inc. and Lucid Group Inc., Fisker has experienced a decline in stock value and faces the challenge of delivering consistent profitability. Despite revamping its business model and introducing new vehicles, the company’s stock continues to decline, leaving investors uncertain about its future success.



This article provides a comprehensive analysis of Fisker Inc., an electric vehicle (EV) maker, and its recent stock performance. It explores Fisker’s journey as a potential meme stock and examines similar examples in the EV industry, such as AMC, Lucid Group, Mullen Automotive, and VinFast Auto. The article also discusses the short interest of Fisker’s stock and analyzes the company’s efforts to revamp its business model. Additionally, it highlights the impact of losing a bullish analyst and concludes with an assessment of Fisker’s current standing in the market.

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Fisker Inc. has recently garnered attention as a potential meme stock, joining the ranks of companies like AMC Entertainment Holdings Inc. and GameStop Corp. This article aims to provide an overview of Fisker’s stock performance, analyze the factors contributing to its meme stock status, and shed light on the implications of this phenomenon for the company and its investors.

Background of Fisker Inc.

Fisker Inc. is an electric vehicle manufacturer based in Manhattan Beach, California. The company was founded in 2016 by Henrik Fisker, a Danish automotive designer known for his work on iconic vehicles such as the BMW Z8 and Aston Martin DB9. Fisker Inc. aims to revolutionize the EV industry by producing sustainable, high-performance electric vehicles that combine cutting-edge technology with luxurious design.

Fiskers Stock Becomes a Meme Stock, According to Stocktwits

Fisker Inc.’s Stock Performance

Fisker’s stock performance has been a rollercoaster ride, reflecting both the excitement and uncertainty surrounding the company. After going public via a special purpose acquisition company (SPAC) in 2020, Fisker’s stock initially surged, fueled by the enthusiasm of retail investors who were drawn to the company’s mission and potential.

However, the stock has since experienced significant volatility and a steady decline. Fisker’s shares briefly surged at the end of 2023 but have been on a downward trajectory ever since. This decline has raised concerns among investors and analysts, leading to questions about the company’s ability to deliver on its promises and meet market expectations.

Fisker as a Meme Stock

Fisker’s stock has garnered attention for its association with the meme stock phenomenon. Meme stocks are companies that experience significant price volatility and speculative trading activity driven by retail investors on social media platforms like Reddit. These investors are often motivated by factors beyond the company’s fundamentals and financial performance, such as sentimental attachment or a desire to challenge institutional investors.

Fisker’s status as a meme stock can be attributed to its active community of retail investors, particularly those with an interest in electric vehicles. These investors have rallied around Fisker’s mission and growth potential, leading to increased speculation and trading activity in the company’s stock.

Similar Examples: AMC, Lucid Group, Mullen Automotive, and VinFast Auto

Fisker’s journey as a meme stock is not unique in the electric vehicle industry. Several other companies, including AMC Entertainment Holdings Inc., Lucid Group Inc., Mullen Automotive Inc., and VinFast Auto Ltd., have experienced similar periods of meme-like buzz and speculative trading.

AMC, a movie theater chain, became one of the most well-known meme stocks during the height of the meme stock frenzy in 2021. Lucid Group, a luxury electric vehicle manufacturer, and Mullen Automotive, a manufacturer of electric sports cars, also attracted significant attention from retail investors. VinFast Auto, a Vietnamese electric vehicle startup, experienced a surge in interest and trading activity after announcing plans to go public.

These examples highlight the broader trend of meme stocks in the electric vehicle industry, where companies with potential for growth and disruption can capture the imagination of retail investors and drive unpredictable price movements.

Short Interest of Fisker Inc.

Fisker’s stock has also caught the attention of short sellers, who are betting on the price of the stock to decline. Short interest refers to the number of shares of a company’s stock that have been sold short, which indicates the level of bearish sentiment in the market.

According to the latest exchange data, Fisker has a high short interest as a percentage of its public float of shares, standing at 47.3%. This indicates that a significant portion of investors are betting on Fisker’s stock price to fall.

Comparatively, the short-interest percentages of other meme stocks in the EV industry, such as AMC at 11.8%, Lucid at 26.8%, and Mullen at 28.5%, are lower than that of Fisker. This suggests that Fisker’s stock has attracted a higher level of bearish sentiment from investors.


The presence of short sellers adds another layer of complexity to Fisker’s stock performance and can contribute to increased volatility and potential price swings.

Revamping the Business Model

In response to its declining stock performance and challenges in meeting production and delivery targets, Fisker has initiated efforts to revamp its business model. The company aims to boost sales, deliveries, and its test-drive network through strategic changes.

Earlier this month, Fisker announced the abandonment of its direct-sales model in the U.S. and the introduction of a new dealer-partnership business model. This shift aims to leverage the existing dealer network and improve the company’s reach and customer service. In Europe, Fisker intends to pursue a hybrid model that combines direct sales and dealer partnerships.

These changes in the business model reflect Fisker’s adaptability and willingness to explore different approaches to achieve its growth objectives. However, the success of these changes remains uncertain and will largely depend on the company’s ability to execute the new strategy effectively.

Loss of Bullish Analyst

Fisker recently faced a setback with the loss of its most bullish analyst, Jeffrey Osborne of T.D. Cowen. Osborne cited the company’s “unanticipated growing pains” as the reason for his loss of faith in Fisker’s ability to deliver on its production and delivery targets.

The departure of a bullish analyst can have a significant impact on a company’s stock performance and investor sentiment. It signals a lack of confidence in the company’s ability to meet expectations and can contribute to further selling pressure.

Fisker will need to regain the trust and confidence of analysts and investors through transparent communication, consistent performance, and the successful execution of its business plans.


Fisker’s journey as a meme stock reflects the enthusiasm and speculative trading activity surrounding the electric vehicle industry. While Fisker has attracted a dedicated community of retail investors, its stock performance has been marked by volatility and a decline in value.

The involvement of short sellers and the loss of a bullish analyst further complicate Fisker’s path to success. The company’s efforts to revamp its business model and regain investor confidence will be crucial in determining its future prospects.

As the electric vehicle industry continues to evolve, Fisker’s ability to deliver on its promises, produce and sell vehicles consistently and profitably, and navigate the challenges of being a meme stock will determine its long-term success. Investors and industry observers will closely watch Fisker’s journey as it navigates these uncharted waters.


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