Fisker Stock Faces Drastic 80% Price Target Cut by Wall Street Analyst
Tuesday, 5 March 2024, 19:54
Why is this analyst slamming Fisker stock?
Fisker stock is trading well below $1 per share, and investors are looking for information. Just when you thought it couldn't get any worse for Fisker (NYSE: FSR) stock, you're suddenly staring at a company that's lost 70% of its market capitalization since the start of the year.
Financial Struggles
- Fisker is burning cash rapidly and faces a 'going concern' warning.
- Existing resources aren't sufficient for the next 12 months.
- Delays in regulatory filings and seeking debt or share sales for funding.
Analyst's Perspective
Citi analyst Itay Michaeli cut Fisker stock's price target from $4 to $0.80, highlighting concerns about demand, liquidity, and accounting issues despite potential partnerships and talented leadership.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.