It's been a good week for growth stock investors. Bullish sentiment has picked up as benign inflation data led to a drop in treasury yields. The moves higher included electric vehicle (EV) stocks like Tesla (TSLA -1.11%) and Lucid Group (LCID 0.41%). But one notable EV start-up was left out of this week's rally in a big way.

While Tesla and Lucid shares have charged higher by about 9% and 12.5%, respectively, the stock of Fisker (FSRN -12.70%) was plunging by 27% as of early Friday morning, according to data provided by S&P Global Market Intelligence.

Tailwinds picked up speed

One of the big reasons many stocks of EV makers and other growth companies shot higher came from economic data released this week. The Consumer Price Index (CPI) showed price increases in many sectors slowed in October. That led to the market pushing bond yields lower. That's a more supportive environment for growth stocks and investors poured into those riskier names this week.

Tesla helped itself on two fronts as well. First, the company announced its second agreement to sell its proprietary EV charging hardware to a third party. The EV leader previously said it had a deal worth $100 million to sell them to energy giant BP. This week, it announced another deal with a convenience store and fuel station operator in the United Kingdom for its ultra-fast chargers.

Tesla also reportedly raised prices for its Model 3 and Y vehicles made in China. Unlike traditional automakers that use dealerships, Tesla uses real-time data to gauge demand and adjust pricing and production accordingly. One price increase doesn't make a trend, but it's worth watching and it's potentially positive news.

Tesla's new revenue stream selling charging stations and potentially good news about demand in China only supported the positive economic data this week. Lucid stock benefited from the latter as well. Its shares were also coming off a severe decline after Lucid reported its third-quarter update last week when it lowered its production estimates for 2023.

What happened to Fisker?

Yet with all the tailwinds pushing aggressive growth stocks higher this week, Fisker stock got pummeled. There were good reasons for that, though. Last week, the company delayed the release of its third-quarter report. It said that was due to the timing for the appointment of a new chief accounting officer on Nov. 6 after the departure of its previous chief accounting officer the week prior.

The company didn't cite a reason for that departure. But what the company announced this week gave investors a clue -- and a reason for concern. Fisker released its third-quarter report this week and at the same time said it would be unable to file its official comprehensive quarterly statement. It said that was because it "determined that it has material weaknesses in the company's internal control over financial reporting."

The filing said management would expand on that weakness in the official report. It's no surprise that some shareholders don't want to wait around to find out more details, especially after Fisker said it only delivered about 1,100 EVs in the third quarter. It said deliveries have accelerated sharply in October, but it still lowered 2023 estimated production volume by 6,500 units at the midpoint of the prior and current ranges.

Buy stocks one at a time

Stock investors, of course, don't buy trends or market sentiment. They buy individual stocks. While the underlying business is still strong for Tesla, the same doesn't seem to be the case for Lucid. And as noted above, Fisker has its own major issues.

The takeaway for investors is to always monitor the businesses. Tesla stock has its detractors, but the company is still on a strong growth trajectory. That makes it the only one of these three worth considering right now.