Fisker stock jumps after passing 14K reservations for Ocean SUV electric vehicle

Shares of Fisker Inc.
FSR,
+2.07%
surged 4.5% in premarket trading Tuesday, after the electric vehicle company said it passed the 14,000 threshold for reservations for its Fisker Ocean SUV. The company, which signed one of its first fleet orders for 300 vehicles in the fourth-quarter of last year, said the increase in orders were boosted by interest from the fleet market. Fisker said it expects to start production, initially in Europe, of its first Ocean SUV vehicle in the fourth quarter of 2022. The stock has tumbled 23.7% so far this month, after soaring 94.5% the first two months of the year. In comparison, the S&P 500
SPX,
-0.54%
has gained 0.3% month to date, after rising 1.5% over the January-February period.