Core Viewpoint - Fisker, a troubled electric vehicle company, has defaulted on a short-term loan of $3.5 million, raising concerns about its financial stability despite a temporary rise in stock price due to retail trading activity [1][2][5]. Company Developments - Fisker has defaulted on a senior secured note worth $3.456 million, attributed to the expiration of a forbearance agreement and failure to make payments [3][5]. - The company has experienced significant layoffs and a decline in institutional investment, indicating a loss of confidence from Wall Street [5][6]. - Fisker has scaled back its direct sales operations and acknowledged production setbacks, compounding its financial difficulties [5]. Stock Performance - Despite recent surges in stock price, Fisker shares are down over 96% in the past two quarters, reflecting ongoing struggles [4][6]. - The recent default on the loan serves as a reminder of the company's precarious position, with potential bankruptcy looming [6].

In a clear last-ditch effort to remain afloat, Fisker (OTCMKTS:FSRN) is significantly reducing its workforce. The struggling electric vehicle (EV) startup just informed hundreds of workers that their jobs have been eliminated as of Wednesday, May 29. Impacted staff members were part of many different teams, including design, content and social media. This is by no means the first round of layoffs that Fisker has announced this year — it's actually the third month in a row that Fisker has opted for job cuts. ...

Struggling EV startup Fisker has laid off hundreds of employees in a bid to stay alive, as it continues to search for funding, a buyout or prepare for bankruptcy. Despite the widespread cuts, Henrik Fisker struck a somber-but-determined tone during the call, according to sources. At one point, he noted that the company built "something great" and would continue to sell its one and only EV — the Ocean SUV — to people who want to buy them He also suggested that laid off workers would be re-hired once the comp ...

According to WhaleWisdom, net institutional (or 13F) exposure to FSRN stock fell by a staggering 94.69% to 5.51 million shares as of the end of the first quarter. In addition, the number of 13F filers holding FSRN declined by 78.93% to just 51. Hedge funds, a subset of institutional investors, also jumped ship during Q1. Five hedge funds own a stake in Fisker, down from 45. The total number of shares owned by hedge funds plunged by 88.33% to 3.32 million. That paints an extremely bearish picture. Fisker's r ...

By clicking "Sign Up", you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today's biggest stories in markets, tech, and business — delivered daily. Read preview Embattled EV startup Fisker kicked off another round of layoffs on Wednesday, four sources with knowledg ...

Fisker (OTCMKTS:FSRN) is up more than 1% today but the company has reported even more news that should be concerning for investors. Amid recent months of struggling, the electric vehicle (EV) company has implemented multiple production halts. Now, though, Fisker has also announced that it will only make sales to customers in states where it has a dealership partner. Fisker has pivoted toward a dealership-centric business model over the past year. Given how poorly Fisker stock has performed in 2024, it's saf ...

How much stress can one company put its investors through? For months, investors have been considering that question as they watch the rollercoaster ride that is Fisker (OTCMKTS:FSRN) stock. Over just the past few months, the electric vehicle (EV) producer has lost its spot on the New York Stock Exchange… and that's the least of its problems. Back in March, Fisker slashed EV prices by as much as 39%. Then reports broke that the company had lost track of many consumer payments. Now, production of the Ocean S ...

This Roaring Kitty rally may not be a long-term fix for Fisker (OTCMKTS:FSRN) but it is certainly helping. To say that the electric vehicle (EV) startup is struggling would be an understatement. Since being delisted from the New York Stock Exchange, Fisker has been in an undeniable race to the bottom. Despite some pops on dealer partnership news, Fisker stock has quickly plunged back into the red every time without fail. Now shares are rising again, even as the meme stock frenzy that overtook markets earlie ...

Fisker Stock Down To 3 Cents Alex Wong / Getty Images How much trouble is EV company Fisker in? Its stock has dropped from $6 last October to $.03. Yes, that’s 3 cents. It recently pulled its earnings guidance, said it is looking at “strategic options” and faces a federal investigation of one of its braking systems.Fisker recently said it may not be able to pay its debts. It also said negotiations with a larger car company to rescue it have ended. And, The Wall Street Journal reported, “Fisker said its op ...

There might be better times to invest in EV stocks, and I think now is the time to look for EV stocks to avoid instead. The sector is grappling with a myriad of challenges, with the biggest fishes losing a ton of value of late. With the sector’s bellwethers struggling, the situation for smaller players becomes even more precarious. Hence, it’s probably the right time for investors to think about the EV stocks to avoid.With all the headwinds in play, the ultimate result for the EV space is waning demand. Mor ...