Another EV Maker Bites The Dust: Arrival Joins Growing List Of Bankrupt Startups
Portfolio Pulse from Anan Ashraf
Electric vehicle startup Arrival SA (OTC:ARVLF) has declared bankruptcy, joining other EV makers like Lordstown Motors and Proterra. The company filed for bankruptcy on May 16, and the court declared it bankrupt on May 22. Arrival had $43 million in cash but faced a $155.7 million loss in the first half of 2023. The company was delisted from Nasdaq earlier this year due to non-compliance with listing standards.
June 11, 2024 | 8:24 am
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Arrival SA has declared bankruptcy, with the court rendering a judgment on May 22. The company faced significant financial losses and was delisted from Nasdaq earlier this year.
The bankruptcy declaration and significant financial losses will likely lead to a further decline in the stock price. The delisting from Nasdaq also indicates severe financial instability.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Proterra, another EV maker, is mentioned as having filed for bankruptcy recently, similar to Arrival SA.
The mention of Proterra in the context of EV bankruptcies may negatively impact investor sentiment, potentially leading to a short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEGATIVE IMPACT
Lordstown Motors, another EV maker, is mentioned as having filed for bankruptcy recently, similar to Arrival SA.
The mention of Lordstown Motors in the context of EV bankruptcies may negatively impact investor sentiment, potentially leading to a short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50