Fisker shares are trading lower after the company reported preliminary Q4 2023 total revenue results below estimates and said it expects to conclude there is substantial doubt about its ability to continue as a going concern when its annual financial statements are filed with the SEC.
Portfolio Pulse from Benzinga Newsdesk
Fisker's shares dropped following its preliminary Q4 2023 revenue report, which fell below estimates. The company also expressed substantial doubt about its ongoing viability in its upcoming annual financial statements to the SEC.
March 01, 2024 | 1:47 pm
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Fisker's preliminary Q4 2023 revenue report was below expectations, and the company anticipates expressing substantial doubt about its ability to continue as a going concern.
The announcement of lower-than-expected revenue for Q4 2023 and the expression of doubt regarding the company's ability to continue operating are significant negative indicators for Fisker's financial health and future prospects. This news is likely to shake investor confidence, leading to a decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100