Is fisker the next million dollar maker

[Hoozhog11]

I’m not sure if anybody follows Fisker they are up 120% today can somebody give me some info on it. People are talking about it on Reddit.

 

[Singleton]

How quickly things change.
Singed dealership partner and things go up.

Last Month - March 14, 2024
The electric vehicle company faces a number of challenges this year, including the possibility that it will be delisted from the NYSE. It's rough out there in the electric vehicle (EV) industry lately, especially for start-up companies with dwindling cash, weak demand, and low production capacity.

 

[BHC Vic]

lol I hope to get my money back with that one last week I was down big and thought the were delisting

 

[BHC Vic]

Alright only down 99.41 percent. I hit that one out of the park

 

[hallett21]

Ummmm

 

[TPC]

Software problems is the word in the EV circles, but most all EV's have had software issues. Their cars have showroom appeal.

 

[monkeyswrench]

Ummmm

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I'm no economist, but that looks pretty bad

 

[TPC]

 

[rrrr]

Alright only down 99.41 percent. I hit that one out of the park

The turnaround is imminent! Yer gonna be rich.

https://www.caranddriver.com/news/a60320119/fisker-ocean-ev-suv-big-price-cuts-possible-bankruptcy/

 

[Ziggy]

A Fisker dealership opened in the former BMW store in Vista.

 

[caribbean20]

Looking to me like a good old fashioned Chapter 22 for Henrik Fisker. Gotta love the never say die attitude.

 

[Singleton]

A Fisker dealership opened in the former BMW store in Vista.

And a Tesla facility took over the BMW Encinitas location.

 

[27Daytona]

Has Fisker ever turned a profit?

 

[Vamodsquad]

Can't believe I'm the first one...

Sell Mortimer, Sell !

 

[PaPaG]

I’m not sure if anybody follows Fisker they are up 120% today can somebody give me some info on it. People are talking about it on Reddit.

Stay away from FSR now FSRN, they are in a huge class action suit (I am in the class action) and they have lost Millions of investors money, they kept delaying financials and having internal accounting problems. Since being delisted from NYSE they dropped to .09, If you are a penny trader and want to take a chance that is another story but investing any large amount of your hard earned money would be a huge risk.

Exchange cites 'abnormally low' price levels, says trading in EV-maker's stock will be suspended immediately
The New York Stock Exchange on Monday said it would begin the delisting process for Fisker Inc. stock - a move the struggling electric-vehicle maker said would trigger an "event of default" on some of its convertible debt.
Fisker (FSR) said it expected its stock to be quoted over the counter, on the OTC Pink platform or another market operated by OTC Markets Group.
The announcements were the latest bad news for Fisker, which has been searching for a way to stay afloat following an array of issues - including competition, product quality and a drop-off in demand for electric vehicles - as its finances grow thinner. The Wall Street Journal this month reported that Fisker had been preparing for a potential bankruptcy filing.
The NYSE, in a statement, cited Fisker's "abnormally low" share price, and said trading in the stock would be suspended immediately. Shares had been trading at around 9 cents, and are down 95% year to date.
The exchange said the automaker has a right to a review of the decision.
Fisker, in a filing shortly afterward, said a delisting would trigger a requirement to offer to buy back its unsecured 2.5% convertible notes due in 2026, and would cause "an event of default under our senior secured convertible notes due 2025, which would permit the holders of the 2025 notes to accelerate such notes and make them immediately payable in full."
The company, in that filing, said it didn't have the financial cushion for those circumstances.
"We do not currently have sufficient cash reserves or financing sources sufficient to satisfy all amounts due under the 2026 notes or the 2025 notes, and as a result, such events could have a material adverse effect on our business, results of operations and financial condition," the filing said.
Earlier on Monday, before the halt in trading, Fisker said in a filing that a potential deal with a major automaker - Reuters reported it was Nissan (JP:7201) - that could have represented a financial lifeline had been terminated.
As a result, the company said, it would be unable to meet closing conditions to secure financing from an investor. Fisker said it planned to discuss with the investor the possibility or waiving that closing condition, or having that investor change the terms of the financing.
In the filing, Fisker said it "continues to evaluate strategic alternatives." Those alternatives included restructurings, refinancing debt, and selling off some parts of its business.
When Fisker reported preliminary quarterly results last month, The company said it would cut around 15% of its workforce, after raising greater doubts about its ability to stay in business.
It said that in 2023, it suffered from higher interest rates, along with supplier delays that set back deliveries for its Ocean SUV. Sales took a hit as it pivoted away from selling cars to customers directly and began working more with dealers.
"Although we have good reason to be optimistic about this process and have seen tremendous enthusiasm from dealers about the expansion of the EV market, we are aware that the industry has entered a turbulent, and unpredictable period," Chief Executive Henrik Fisker said in the company's earnings release.

 

[sirbob]

Henrik Fisker is a jerk!

I’ve been in his presence a coupe of times and watched the way he talked to people around him. He is pompous and self centered (which isn’t necessarily bad if you are a hard charging business leader), but more importantly he is rude and entitled!

I watched this guy laugh at people behind their backs while standing 5 ft away from them while he tried to impress a few pretty girls. I watched him cut in line in front of people that had more money than he will ever have because he felt he needed his wine glass refilled before those waiting politely for the bartender. I watched him hit on a girl while her husband was standing there holding back his rage because he was polite and somebody that couldn’t risk making a scene in the environment we were in.

Fisker is a fucking asshole and I want nothing better than to see his business fail. I’ve never liked one of his designs and I thought he was a tool from the first time he redesigned the seven series BMW with that stupid ass trunk on it.

Fuck Fisker!

 

[Dan Lorenze]

Fisker-Belly up..

https://www.reuters.com/business/autos-transportation/ev-startup-fiskers-us-units-file-bankruptcy-2024-06-19/

 

[JL95]

I am not sure why I would always see the Fisker cars in the prototype camouflage running around the riverside area.

 

[Member: 71]

Fisker-Belly up..

https://www.reuters.com/business/autos-transportation/ev-startup-fiskers-us-units-file-bankruptcy-2024-06-19/

Nice, one less T̶e̶s̶l̶a̶…. I mean Fisker on the road.

 

[HCP3]

Fisker-Belly up..

https://www.reuters.com/business/autos-transportation/ev-startup-fiskers-us-units-file-bankruptcy-2024-06-19/

Again? They will probably change there name and start fresh like they did last time.

Fisker Automotive became Fisker Inc. after the first bankruptcy.

 

[rrrr]

Earlier on Monday, before the halt in trading, Fisker said in a filing that a potential deal with a major automaker - Reuters reported it was Nissan (JP:7201) - that could have represented a financial lifeline had been terminated.

Fisker's assets and intellectual property are worthless. I would be astounded if Nissan's present engineering and designs for EVs are not far superior to the crapwagon Fisker was selling.

 

[Taboma]

A Fisker dealership opened in the former BMW store in Vista.

Wife and I stopped by Bedrosians and Ferguson probably three weeks ago on a Saturday. Noticed that Fisker had taken over that BMW dealership. Lot was full of Fisker SUVs (I think those are called Oceans), but otherwise the place appeared to be boarded up. No Customer cars and no signs they were open doing business.
Parking Lot out front of Ride Now was over flowing with Polaris and Can-Am UTVs, so no shortage of them anymore.

 

[boatpi]

I believe they are toast.

 

[monkeyswrench]

Is this Fisker company/owner tied into politics? Having read they'd tanked before, and come back as something different, I wonder if they received big incentives or loans from the government both times, and are just going to do it again. I guess they wouldn't need political ties, just the types to abuse the system.

 

[Dan Lorenze]

I know they're not the greatest cars, but I still want a Fisker Karma, you can find them pretty cheap too.. They have a turbo Ecotec engine that acts as a generator to charge the battery or run the car. lol But they sure are sexy..

 

[HCP3]

Is this Fisker company/owner tied into politics? Having read they'd tanked before, and come back as something different, I wonder if they received big incentives or loans from the government both times, and are just going to do it again. I guess they wouldn't need political ties, just the types to abuse the system.

Ding ding ding

Obama administration missed clues on Fisker

WASHINGTON (AP) — The Energy Department did not realize for four months that troubled automaker Fisker Automotive Inc. had missed a crucial production target that was required as part of a half-billion dollar government loan, documents released Wednesday show.

apnews.com

 

[bonesfab]

I know they're not the greatest cars, but I still want a Fisker Karma, you can find them pretty cheap too.. They have a turbo Ecotec engine that acts as a generator to charge the battery or run the car. lol But they sure are sexy..

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One of the Gm engineers was trying to buy the company and put that body on the corvette platform. That would have been a home run. But idiots can't see it.

 

[monkeyswrench]

I know they're not the greatest cars, but I still want a Fisker Karma, you can find them pretty cheap too.. They have a turbo Ecotec engine that acts as a generator to charge the battery or run the car. lol But they sure are sexy..

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There is one on Phoenix CL...I'd never even heard of the thing, but thought in was pretty cool.
Then again, I drive a Prius...pretty much everything is more exciting.

2019 Karma Revero hybrid for sale by owner - Surprise, AZ - craigslist

For sale a beautiful and one of a kind 2019 Karma Revero with low miles only has 18k miles. It is a great car with 50miles electric and 250 gas miles. This car is sure to get all the looks! Also has...

phoenix.craigslist.org

 

[coolchange]

I know they're not the greatest cars, but I still want a Fisker Karma, you can find them pretty cheap too.. They have a turbo Ecotec engine that acts as a generator to charge the battery or run the car. lol But they sure are sexy..

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Those are bitchen. First on I saw was in Hollywood and checked it out and Kutcher was driving it.

 

[22hotkat]

It's the Titanic backing up to take another run at the iceberg

Attempt #1 Karma - $500 mil from the taxpayers and $1bn from investors = 2000 cars total then default

Attempt # 2 accumulated $3bn = 5000 cars manufactured but only about 2000 delivered. His wife was the CFO , not a single real accountant working for the company. Declared bankruptcy this week. Cars that were shipped didn't have all software functioning. Edmunds .com took delivery of one in Jan '24 paid $69k , had it appraised in March at Carfax and value then $21k, now worth zero

 

[JL95]

So I take it this is not happening?

https://www.topgear.com/car-news/electric/fisker-ronin-will-cost-385000-offer-more-1000bhp

 

[ChumpChange]

 

[DrunkenSailor]

Wonder if you could take the battery and motor out of a no value fisker and drop it in a Honda crx and melt some tires...

 

[angiebaby]

Ok. When I hear Fisker I think of scissors and orange. Never heard of an EV company of that name, but I don’t pay attention to those things anyway. Less than zero interest, kinda like this stock I guess. I’m going in the opposite direction when it comes to vehicles.

Edit: apparently the scissors company is FiskArs. I learned something today, that’s a good day.

 

[Joker]

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That chart makes it appear Lucid and Rivian are in some hot water

 

[JDKRXW]

Ok. When I hear Fisker I think of scissors and orange.

Edit: apparently the scissors company is FiskArs. I learned something today, that’s a good day.

When I read your post, I'm reminded of the tree trimming I did earlier this evening with my Fiskars pruning and lopping shears