Fisker (FSR) crashes 40% on going concern doubts; Citi downgrades amid near-term risks
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Citi Downgrades Fisker (FSR) to Neutral
March 1, 2024 6:52 AM ESTCiti 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
Fisker (FSR) Says Substantial Doubt About Ability to Continue as a Going Concern
February 29, 2024 4:20 PM ESTFisker Inc. (NYSE: FSR) (Fisker), driven by a mission to create the worlds most emotional and sustainable electric vehicles, today announced its preliminary financial results for the fourth quarter and fiscal year ended December 31, 2023.
2023 was a challenging year for Fisker, including delays with suppliers and other issues that prevented us from delivering the Ocean SUV as quickly as we had expected, Chairman and CEO Henrik Fisker said. We also encountered unexpected headwinds in our efforts to establish a direct-to-consumer sales model in both North America and Europe at the same time. There were a number of... More
