Fisker slides on flagging going concern risk

Fisker

01/03/2024 11:08

** Shares of electric vehicle startup Fisker  FSR.N  fall
~38% to 44 cents premarket
    ** Fisker says it has substantial doubt about its ability to
 continue as a going concern, warns of a "difficult year" ahead
    ** Co says it ended 2023 with cash and cash equivalents of
$325.5 mln, compared to $527.4 mln as of Sept. 30
    ** CEO Henrik Fisker says co does not plan to start
"external expenditure" on future projects unless it secures
another manufacturing partner
    ** Up to last close, stock fell ~90% in the past 12 months

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))