Fisker’s earnings do not matter. More ocean reservations and doing a new model.

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Electric vehicle maker Fisker has no sales, and the financial results reported Thursday night take a back seat to news about upcoming car models.

The main focus is the instant news Wednesday for which the company that compiles iPhones

appeal

(ticker: AAPL) is going to build a car for Fisker.

First, the financial results.

Fisker

(FSR) made no sales and lost a nickel per share. Wall Street predicted a loss of 6 cents per share, so by that measure it was good.

What investors are much more interested in is the pipeline of new vehicles. The Fisker Ocean SUV is still on track for the late 2022 delivery. This is good news for investors who do not want the timelines to slip. The vehicle is manufactured by

Magna International

(MGA).

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

On Wednesday, the company announced a partnership with Foxconn, the company that assembles electronics such as iPhones. It has made shares rise, but the details are thin. On Wednesday, CEO Henrik Fisker tweeted a rough sketch in which he wrote: “It may be too futuristic for some!”

This will likely be Fisker’s second model, after the Ocean, and it’s going on the road in 2023. Pricing and styling are not known. Fisker may not want to tell investors much about it yet, but investors and analysts are expected to try to ask for more information about the company’s earnings conference on Thursday night.

Fisher share rose about 4% in after-hours trading after falling more than 4% on Thursday. The trading action should not surprise investors. Things have been volatile for all EV stocks lately. Tesla (TSLA)’s shares, for example, fell 14% for the month.

Thursday’s decline probably had nothing to do with Fisker specifically. It was a difficult day for high-growth stocks. The

S&P 500

it decreased by 2.5%. The

Nasdaq Compound,

home to many high-growth technology stocks, fell even more, by 3.5%.

Fear of inflation appears to be the biggest culprit for the sale.

Higher inflation leads to higher interest rates, which hurt stocks with high valuations more than other stocks. Fisher share is worth more than $ 6 billion. This is a large multiple of the projected 2022 sales of approximately $ 440 million.

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

Write to Al Root at [email protected]