"Fisker's Stock Plummets Amidst Braking Complaints and Downgrades"
Fisker Inc's stock fell below $1 after losing its most bullish analyst, who cited the company's "unanticipated growing pains" and concerns about delivery consistency, distribution strategy shift, and an NHTSA probe into the Ocean's braking performance. The analyst downgraded the stock to market perform with a price target of $1, the lowest among surveyed analysts. Fisker's shares tumbled amid reports of the NHTSA probe and concerns about delivery delays, regulatory approvals, and margin pressure due to a new dealer-partnership business model. The stock has plummeted 85.4% over the past three months, while the Global X Autonomous & Electric Vehicles ETF has slipped 3.4% and the S&P 500 index has gained 8% in that time.