Fisker income does not matter. More ocean reservations and a new Do model.

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Electric vehicle maker Fisker has no sales, so the financial results it released on Thursday night are taking a back seat to news on upcoming car models.

The focus is on the hit news Wednesday that the company that assembles iPhones for

Apple

(ticker: AAPL) will build a car for Fisker.

First the financial results.

Fisker

(FSR) generated no sales and lost one nickel per share. Wall Street was forecasting a loss of 6 cents a share, so by that measure the numbers were good.

What interests investors much more is the pipeline of new vehicles. The Fisker Ocean SUV is still on track for delivery at the end of 2022. This is good news for investors, who don’t want deadlines to pass. This vehicle is manufactured by

Magna International

(MGA).

Reservations for the Ocean now stand at 12,000. This is progress: the number revealed in a December update was around 10,000 reservations.

On Wednesday, the company announced a partnership with Foxconn, the company that assembles electronic devices such as iPhones. It sent stocks soaring, but the details are thin. CEO Henrik Fisker only tweeted a draft from Wednesday, writing: “This might be too futuristic for some!”

This will likely be Fisker’s second model, after the ocean, and is slated to hit the streets in 2023. Pricing and styling are not known. Fisker may not want to say much to investors just yet, but investors and analysts should try, asking for details of the company’s earnings conference call Thursday night.

Fisker stock rose around 4% after-hours trading after falling more than 4% on Thursday. This trade action should come as no surprise to investors. Things have been volatile for all EV stocks lately. Tesla (TSLA) stock, for example, is down 14% for the month.

Thursday’s fall probably had nothing to do with Fisker in particular. It was a difficult day for high growth stocks. The

S&P 500

fell 2.5%. The

Nasdaq composite,

home to many high-growth tech stocks, fell even more, down 3.5%.

Inflation fears seem to be the main cause of the sale.

Higher inflation leads to higher interest rates, which is more detrimental to stocks with high valuations than other stocks. Fisker stock is worth over $ 6 billion. That’s a big multiple on sales forecast for 2022 of around $ 440 million.

The yield on 10-year Treasury debt, a crude measure of inflation expectations, traded above 1.5% on Thursday. He started the year with less than 1%.

Write to Al Root at [email protected]