Why Fisker Shares Are Moving Today

Fisker Inc FSR shares are trading higher by 9.5% at $19.32 after Magna International disclosed a 7.4% stake in the company.

Additionally, the company on Tuesday announced it will be added to the Russell 3000 Index RUA on June 28.

Fisker noted in a press release that membership in the U.S. all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000 Index RUI or the small-cap Russell 2000 Index RUT – as well as the appropriate growth and value style indexes.

Fisker focuses on design, development, manufacture, and sale of electric vehicles. The company was founded in 2016 and is headquartered in Manhattan Beach, California.

Fisker has a 52-week high of $31.96 and a 52-week low of $8.70.