What happened Fisker (NYSE: FSR) is an electric vehicle (EV) stock that has been flying under the radar. The month of November changed investors' perceptions as the company not only revealed its first all-electric vehicle, but also gave out crucial details about pricing and production timelines, among other things. Fisker shares jumped 33.3% in November, according to data provided by S&P Global Market Intelligence. The stock, though, is already reversing course and is down nearly 15% so far in December. What gives? So what During its third-quarter earnings release in early November, Fisker announced that production of its first SUV Ocean, which has been outsourced to Magna International (NYSE: MGA), is on track, and that it had received more than 18,600 reservations as of Nov. 2. Most importantly, Fisker announced it will reveal all details about Ocean at the upcoming Los Angeles Auto Show. Image source: Fisker. Fisker received multiple analyst upgrades soon after. While R. F. Lafferty analyst Jaime Perez put a price target of $21 a share on Fisker stock based on reservations, Credit Suisse analyst Dan Levy posited a price target of $32 per share based on its sleek vehicle design at a compelling price point. Bank of America analyst John Murphy found Fisker shares to be undervalued as compared to peers, and raised his price target to $24 per share. On Nov. 17, Fisker officially revealed its first Ocean SUV at the L.A. Auto Show. Here are the most important updates Fisker gave out: It revealed three versions of the Ocean SUV: the Ocean Sport priced at $37,499, the Ocean Ultra priced at $49,999, and the Ocean Extreme priced at $68,999 per unit. Ocean Extreme and Ocean One trims will have a Fisker SolarSky roof. The first 5,000 units produced will be limited-edition Ocean One models, priced at $68,999 per unit. Production will start at Magna's factory in Austria on Nov. 17, 2022. The unveiling impressed EV experts, with MotorTrend's early reviews highlighting the Ocean's stylish look, affordable pricing, and "environmentally conscious vibe." The Ocean's interiors are made using vegan, recycled material. The Ocean also won an inaugural zero-emission vehicle award at the Auto Show. Now what Fisker has been quiet so far after the big reveal in November, so the only plausible reason behind the stock's drop is the broader December market sell-off, particularly the panic selling in growth stocks. Fisker has a solid contract manufacturer in Magna, has stuck with its production timeline so far, and is all set to offer Ocean at a compelling price point. If the company's reservation numbers continue to rise, Fisker's stock could soon rebound as more investors bet money on the hot EV industry. 10 stocks we like better than Fisker, Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Fisker, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 10, 2021 Bank of America is an advertising partner of The Ascent, a Motley Fool company. Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool recommends Magna Int'l. The Motley Fool has a disclosure policy.Source