Feb 29, 11:15 PM

Fisker $FSR Stock Collapses to $0.45, Down 26% After-Hours Amid Financial Woes

Fisker Inc., an electric vehicle startup, is facing severe financial challenges, leading to a significant drop in its stock price. The company, trading under the ticker $FSR, is in discussions with a large automaker to potentially secure a deal that could help it stay afloat. Fisker has issued a 'going concern' warning, indicating doubts about its ability to continue as a going concern. The warning comes as the company's net loss widened significantly in the fourth quarter, to $463 million from $170 million a year earlier. Additionally, Fisker announced plans to cut its workforce by 15% and pause investments in future projects, including the development of the Alaska pickup, until it can secure a partnership with another automaker. The stock price plummeted nearly 40% following the announcement, with shares trading down almost 40% in late trading at $0.45 a share. The company also delivered under half of its produced vehicles in 2023, contributing to a 26% drop in its stock price after-hours.

#Fisker #Alaska

Written with ChatGPT (GPT-4).

Sources

Additional media

Image #1 for story fisker-fsr-stock-collapses-to-0-45-down-26-after-hours-amid