Coin Edition -
- Fisker Inc. announces bankruptcy filing following a steep 53.6% drop in share value, attributed to market challenges and mismanagement by CEO Henrik Fisker.
- Investor sentiment sours as Fisker Inc. struggles with financial instability despite previous hopes pinned on its electric vehicle innovations.
- The fallout underscores challenges in the electric vehicle sector, with implications for investors and industry stakeholders alike.
Shares of Farfarcana ($FSR) have plunged 53.6% following Fisker Inc.’s Chapter 11 bankruptcy filing, raising concerns about the electric vehicle maker’s future and the fate of its investors.
#PeckShieldAlert #slippage #FARFARCANA $FSR has dropped -53.6%https://t.co/o2h1rHgvMO pic.twitter.com/nAOa5pv7xz— PeckShieldAlert (@PeckShieldAlert) June 24, 2024
Fisker Inc. has filed for Chapter 11 bankruptcy protection, citing numerous market and economic challenges. This news has led to a sharp drop in its stock value, impacting many investors who believed in the company’s potential.
Fisker’s CEO, Henrik Fisker, and his wife, Geeta Gupta-Fisker, are facing criticism for their management of the company. The CEO stated that they explored all possible options, but selling assets under Chapter 11 was the best choice.
Investor Ron Vining expressed his frustration on social media, highlighting his financial losses. Vining sold Fisker shares for under $0.02 just last week, having initially purchased them at an average price of $11.00 per share.