Why Fisker Stock Hit A New All-Time Low Today
Portfolio Pulse from Henry Khederian
Fisker Inc (NYSE:FSR) shares dropped 9.5% to $0.13 after announcing a financing commitment of up to $150 million and plans to halt production for six weeks to balance inventory. The company is also in talks with a major automaker for potential collaboration on EV platforms and manufacturing in the US. Fisker delivered approximately 1,300 vehicles globally in 2024 and has around 4,700 vehicles in inventory.
March 19, 2024 | 3:33 pm
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Fisker Inc's stock price fell 9.5% to $0.13 following the announcement of a $150 million financing commitment and a six-week production halt to balance inventory.
The significant drop in Fisker Inc's stock price can be attributed to investor concerns over the need for substantial financing and the decision to halt production, which may signal underlying issues with demand or operational efficiency. Additionally, while negotiations with a major automaker could be positive, the lack of finalized agreements may add to investor uncertainty.
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