anyone remember this video 👇

in a move that’s more twisted than a lemon peel garnishing a quirky cocktail, the New York Stock Exchange (NYSE) has decided to give the electric vehicle (EV) startup Fisker the old heave-ho. picture this: one minute you’re cruising down the financial freeway in your sleek, eco-friendly car, and the next, you’re pulled over by the NYSE for driving way below the speed limit – the $1 stock price speed limit, to be exact.

Fisker’s stock, much like my Aunt Edna’s Yorkshire pudding, has been deemed “abnormally low” and “no longer suitable for listing.” this isn’t just a slap on the wrist with a wet noodle; it’s a full-on pie to the face, complete with a “suspension of trading” cherry on top. the drama unfolded faster than a soap opera plot twist, with Fisker’s shares taking a nosedive of more than 28% faster than you can say “Bob’s your uncle.”

but wait, there’s more! just when you thought the plot couldn’t thicken any further, Fisker drops a bombshell – they’ve been ghosted by a major automaker, rumoured to be Nissan. this breakup wasn’t just a “it’s not you, it’s me” situation; it was a crucial cog in the wheel for securing some much-needed dosh to the tune of $150 million. now, Fisker is left holding the bouquet, hoping the unnamed investor will take them back, no strings attached.

it’s been a bumpy ride for Fisker, with customer complaints piling up like dishes after a Sunday roast and lawsuits flying around like confetti at a wedding. the company, which once dreamed of cruising the EV market with its Ocean SUV, now finds itself navigating through a stormy sea of troubles, including quality control squabbles that could make a drama queen blush.

in a move that might make even the stiffest upper lip quiver, Fisker has had to bid adieu to 15% of its crew, leaving it with a war chest that’s looking more like a piggy bank. with production parked and cash reserves running on fumes, Fisker’s tale serves as a cautionary tale for EV startups dreaming of high-speed chases on the stock exchange superhighway.

Original Article | TechCrunch

Wally

Walton "Wally" is a seasoned expert in web technologies, focusing on e-commerce and customer journeys. As the co-founder, CTO, and Head of Storytelling at YOBO Studio, he merges tech with engaging narratives. Beyond his professional endeavours, Wally LOVE his family and is about trail running. His balanced dedication to work and personal life sets him apart as a respected figure in the digital and personal realms.

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