Fisker Stock Plunges Amid Bankruptcy Speculation

Today marked a significant downturn for Fisker, plummeting over 50% to a mere $0.14 per share. This sharp decline represents the stock’s worst single-day performance on record, triggered by a report from the Wall Street Journal indicating that Fisker has enlisted restructuring advisers to explore potential bankruptcy filings.

The crux of the Wall Street Journal report centers around the revelation that Electric-vehicle startup Fisker has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running out of cash this year, hired financial adviser FTI Consulting and the law firm Davis Polk to work on a potential filing, the sources said.

Based on the report, it’s plausible that the WSJ’s report is accurate. However, there remains a possibility of misinformation or misinterpretation. The cautious language utilized, such as ‘possible’ and ‘potential,’ suggests a degree of uncertainty.

Despite the media attention surrounding the Wall Street Journal report, Fisker executives have opted not to provide comments to the publication or any other media outlet that picked up the story. Furthermore, the company has refrained from issuing a statement to refute or address the claims made in the Journal’s article.

The Fisker Electrified Tour continues to draw attention, with 2156 people test-driving the Fisker Ocean so far. The tour has been successful in various cities across the U.S., including Atlanta, where the inventory was sold out during the event.

With 12 successful stops already completed and five more to go, the Electrified Tour covers 17 cities across 11 states. Interested individuals can reserve a test drive and experience the Fisker Ocean firsthand in upcoming cities like the Lone Star State, Big Apple, and the Windy City.