Fisker Stock Drops After Hours: Here's Why
Fisker Inc. shares are falling after hours following a report suggesting the company is preparing for a possible bankruptcy filing. The company has hired restructuring advisers and previously issued a going-concern warning and a workforce reduction. Fisker's stock is down 47.25% after hours at 17 cents.
Fisker Inc. (NYSE:FSR) shares are falling after hours Wednesday following the Wall Street Journal report suggesting the company is preparing for a possible bankruptcy filing.
The Details: According to the report, Fisker is considering a potential bankruptcy filing and has hired restructuring advisers to assist.
Fisker previously issued a going-concern warning and a 15% workforce reduction as it struggled to remain afloat amid worse-than-expected losses and debt of over $1 billion.
Most recently, popular tech YouTuber Marques Brownlee reviewed Fisker’s Ocean SUV and dubbed it the worst car he has ever reviewed in a video two weeks ago.
A Fisker spokesperson told Benzinga that the issues pointed out by Brownlee were confined to early-build vehicles which it is attempting to address.
“As adoption grows and the number of drivers and miles driven increases, our innovations are tested under a wider range of conditions that reveal ways we can improve," the spokesperson said.
FSR Price Action: According to Benzinga Pro, Fisker shares are down 47.25% after hours at 17 cents at the time of publication Wednesday.
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Photo: Courtesy of Fisker, Inc.
