Fisker stock up 5%, recouping earlier losses after short-seller report

Fisker Inc.
FSR,
+4.23%
stock is poised to end the week in the black, up 3% on Friday following losses of more than 5% in the prior session after short-seller Fuzzy Panda said the electric-vehicle maker had a “history of lies,” essentially alleging that Fisker’s cash was tied up and about to run out. Fisker responded to the report late Thursday, saying it sent the short-seller a cease-and-desist letter that Fuzzy Panda’s assessment contained “numerous false and misleading allegations about Fisker’s business operations” and the relationship with manufacturing partner Magna International Inc.
MGA,
-0.49%
Fisker’s weekly gains tally up to 2%. The stock is down 51% for the year, compared with losses of around 15% for the S&P 500 index.
SPX,
-0.12%