Fisker stock price
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Fisker stock price
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Henrik Fisker, a widely respected Danish automotive designer, joined the battle for electric vehicle dominance in with his first endeavor, Fisker Automotive, but failed. The company ended with his resignation and bankruptcy in Now the designer-turned-CEO is back and determined to get it right. In , he came back with a new company bearing almost exactly the same name and logo. The new plan: Instead of making high-end sedans with six-figure price tags, target the mass market with a midrange, midsized electric SUV. But the company has struggled to deliver cars to its customers and has faced software problems and a daunting cash burn. In its earnings release for the fourth quarter, Fisker said there is substantial doubt about its ability to continue as a going concern. The plan is to start selling cars through dealers and seek outside investment from a large automaker.
Fisker stock price
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Until the market's closing on Thursday, shares of the electric vehicle EV start-up had surged ET Friday. Investors who expected to see some glimmer of hope in Fisker's numbers and were betting on the languishing stock ahead of earnings were in for a rude shock today when the company issued a "going concern" warning.
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