LCID - Jim Cramer Is Worried About Lucid Following Fisker Stock Collapse NYSE Delisting | Benzinga
Fisker Inc (NYSE:FSR) stock was delisted from the New York Stock Exchange Tuesday, and Jim Cramer said another EV startup could suffer the same fate.
Fisker’s Downward Spiral: In a regulatory filing released Monday, Fisker said the NYSE notified the company that it would immediately suspend trading of its common stock due to “abnormally low” trading price levels and commence proceedings to delist its stock.
Fisker said the delisting notice will trigger requirements to offer to repurchase its convertible senior notes due 2025 and 2026. The company noted that it does not have sufficient cash or financing to repurchase the notes and warned that the delisting event could have a material adverse effect on its business.