Fisker (FSR) Says Substantial Doubt About Ability to Continue as a Going Concern
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Go back to Fisker (FSR) Says Substantial Doubt About Ability to Continue as a Going Concern
March 1, 2024 6:52 AM EST
Citi analyst Itay Michaeli downgraded Fisker (NYSE: FSR) from Buy to Neutral with a price target of $0.80 (from $4.00).
The analyst comments "A disappointing Q4 outcome revealing additional financial reporting issues (10K delay), a significantly weaker 2024 outlook and a worsening liquidity runway. The... More
February 29, 2024 4:58 PM EST
Shares of Fisker (NYSE: FSR) crashed 40% in premarket trading Friday after the electric vehicle startup reported much worse-than-expected preliminary results for the fiscal fourth quarter, and signaled significant doubts about its status as a going concern.
The companys business plan is highly dependent on the successful transition to its new Dealer Partner model in 2024," the company said in a statement.
"Furthermore, to the extent Fiskers current resources are insufficient to satisfy its... More
