June 15, 2021
Business News

Why Spartan Energy Acquisition’s Stock Fell on Friday – The Motley Fool

What happened
Shares of Spartan Energy Acquisition (NYSE:SPAQ), a special-purpose acquisition company (SPAC) that has agreed to merge with electric-vehicle start-up Fisker, were trading lower on Friday after Fisker reported a potential snag in its plan to put its electric SUV into production.
As of 2:45 p.m. EDT on Friday, Spartan’s shares were down about 12.2% from Thursday’s closing price.
So what
Los Angeles-based Fisker has developed an upscale electric SUV called the Ocean, which it aim…

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