Fisker Risk Forces Wall Street to Downgrade Magna (MGA) Stock

With electric vehicle (EV) startup Fisker (OTCMKTS:FSRN) seemingly flirting with bankruptcy and Fisker stock trading around 6 cents, Wall Street is souring on its manufacturing partner, Magna International (NYSE:MGA). Specifically, one investment bank just downgraded MGA stock yesterday.Here’s what investors should know about the development.MGA Stock: Why Magna Was DowngradedInvestment bank Evercore ISI just cut its rating on MGA stock to “in-line” from “outperform.” Analyst Chris McNally noted that Magna ...