double_m
2 weeks ago
$MULN Another one bites the dust!
Fisker (NYSE:FSR) – The American electric vehicle manufacturer filed for bankruptcy last night, aiming to sell its assets and restructure debts following severe financial challenges in the production and delivery of its “Ocean” SUVs. Fisker, declaring bankruptcy under Chapter 11, reported assets valued between $500 million and $1 billion and liabilities ranging from $100 million to $500 million. This indicates that while the company has substantial resources, it also faces significant debt. In 2023, Fisker produced over 10,000 vehicles but delivered only about 4,700, showing a discrepancy between production and actual delivery, possibly reflecting operational or demand challenges.