Jim Cramer Is Worried About Lucid Following Fisker Stock Collapse, NYSE Delisting
Portfolio Pulse from Adam Eckert
Fisker Inc (NYSE:FSR) was delisted from the NYSE due to low trading prices, triggering a potential repurchase of convertible notes which the company cannot afford. This follows a warning of potential bankruptcy and a search for a sale. Jim Cramer expressed concerns on CNBC about Lucid Group Inc (NASDAQ:LCID) following Fisker's path due to insufficient sales, despite Lucid's recent $1-billion investment from Ayar and a focus on growth. Lucid's shares were down 4.1% at $2.80.
March 26, 2024 | 7:27 pm
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Fisker Inc was delisted from the NYSE due to low trading prices and faces financial difficulties with potential bankruptcy and sale.
The delisting of Fisker Inc from the NYSE due to low trading prices and the subsequent financial difficulties, including the inability to repurchase convertible notes, indicate a significant negative impact on the company's stock price and financial stability.
CONFIDENCE 90
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Lucid Group Inc faces concerns from Jim Cramer about following Fisker's path due to insufficient sales, despite a recent $1-billion investment and focus on growth.
Jim Cramer's concerns about Lucid Group potentially following Fisker's path to financial difficulties due to insufficient sales, despite a recent significant investment and a focus on growth, suggest a negative short-term impact on Lucid's stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90