Fisker Chief Accounting Officer Resigns Less Than Two Weeks After Joining
Portfolio Pulse from Anan Ashraf
Fisker Inc's (NYSE:FSR) Chief Accounting Officer, Florus Beuting, resigned on November 14th, less than two weeks after his appointment on November 6th. The resignation follows Fisker's failure to file its Q3 10-Q report on time, receiving a notice from the NYSE. The company reported preliminary Q3 revenue of $71.8 million, which is below the consensus estimate of $109.029 million, and delivered less than 1,100 vehicles. Fisker has not explained the cause for the filing delay but plans to file the report within the next few days.
November 21, 2023 | 3:50 am
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Fisker Inc's CAO resignation and delayed Q3 filing may raise concerns among investors about the company's internal controls and financial reporting processes, potentially impacting the stock price negatively in the short term.
The resignation of the Chief Accounting Officer, especially so soon after being appointed, alongside the delay in filing the mandatory 10-Q report, could be perceived as a sign of potential internal issues. This, coupled with the reported revenue shortfall, may lead to a lack of investor confidence and a negative impact on Fisker's stock price in the short term.
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