By Gary S. Vasilash

On February 17, 2023, Fisker’s stock closed at $6.98. (For unrealistic comparison purposes, Tesla, that day: $208.31.)

On February 16, 2024, Fisker’s stock closed at $0.73. (Tesla: $199.95. Certainly not the halcyon number of days of yore, but still pretty damn good.)

On February 15, 2024, Fisker received a notice from the New York Stock Exchange.

In it, the NYSE pointed out that because Fisker’s common stock had traded at less than $1.00 per share for a consecutive 30 trading-day period, it is out of compliance with the rules of the exchange and could be delisted as a result.

This doesn’t mean that that is going to happen.

Fisker will tell the NYSE within 10 business days what its plan is is to get back into compliance.

There is a six-month “cure period” that the company has to get things in order (a.k.a., getting its stock price to at least an average of $1.00 per share for 30 consecutive trading days).

According to Fisker:

“The Company intends to remain listed on the NYSE and is considering all available options to regain compliance with the NYSE’s continued listing standards, including, but not limited to, a reverse stock split, subject to stockholder approval no later than at the Company’s next annual meeting of stockholders.”

It didn’t seem all that long ago that EVs were going to be a market—as in both the consumer and financial variants—winner for those involved.

Things are clearly not what they seemed.