How much stress can one company put its investors through? For months, investors have been considering that question as they watch the rollercoaster ride that is Fisker (OTCMKTS: FSRN ) stock. Over just the past few months, the electric vehicle (EV) producer has lost its spot on the New York Stock Exchange ..
. and that’s the least of its problems. Back in March, Fisker slashed EV prices by as much as 39%.
Then reports broke that the company had lost track of many consumer payments. Now, production of the Ocean SUV has been halted and the company is closing its California headquarters, all while Fisker’s Austrian unit starts its own insolvency proceedings . Things are complicated for many EV stocks right now, but for Fisker, the strikes against it have been piling up in alarming fashion.
Fisker didn’t start out with the deck stacked against it. In 2020, the firm came public through a merger with special purpose acquisition company ( SPAC ) Spartan Energy Acquisition. Fisker was one company among a new wave of SPACs as the EV market surged in 2021 and 2022.
Only a few years later, though, several firms that came public by the same means aren’t performing much better than Fisker. In fact, according to some experts, several similar EV stocks could be quick to follow Fisker’s lead — potentially directly into bankruptcy and, ultimately, irrelevance. EV Stocks Are Struggling.
Some Are Struggling More Than Others. Some might argue that Fisker’s problems are a symptom of.
