PBW - Why Is EV Company Fisker Stock Trading Lower Friday? | Benzinga
Electric vehicle startup Fisker Inc (NYSE:FSR) is facing significant financial challenges, announcing plans to lay off 15% of its workforce amid concerns it may not have sufficient funds to operate over the next 12 months. The stock plunged close to 47% Friday.
On Thursday, Fisker reported preliminary fourth-quarter revenue of $200.1 million and a net loss of $(1.23) per share. Fisker produced 4,789 vehicles in the fourth quarter and delivered 3,818 vehicles.
The company, which had over 1,300 employees by the end of September 2023, is shifting from direct sales to a dealership model ...