More bad news for Californian EV startup Fisker, as it now faces a possible delisting from the Nasdaq due to low stock prices for 30 consecutive days.
Fisker reports that it has received a non-compliance notice from the New York Stock Exchange as its stock had closed below around $1 for 30 straight trading days, reports Automotive News. Failure to comply can lead to a delisting, but Fisker has six months to regain compliance.
The road hasn’t exactly been smooth for Fisker, which has faced a long line of issues and delays last year in getting its EVs to customers who had paid for them.
Last year, Fisker cut its production forecast multiple times due to issues ranging from supply chain problems to internal issues. In response to Tesla’s price slashing last year too, Fisker reduced the price of its luxury Ocean Extreme SUV by $7,500, from $68,999 to…