Fisker has responded to a Wall Street Journal report that sent its stock crashing by more than 50% on Thursday.
The business news outlet said the company had retained financial and legal advisors to prepare for a possible bankruptcy.
The electric automaker revealed during its most recent earnings report that it was in need of a cash infusion and could run out of operating capital within a year.
Fisker was only able to deliver half of the approximately 10,000 Ocean SUVs that were built in 2023.
FISKER OCEAN SUV PRICE SLASHED … AND RAISED?
MarketWatch first reported on the statement, which didn’t deny the Wall Street Journal’s reporting, buy said it is moving forward with business as usual.
“As a matter of company policy, Fisker does not comment on market rumors and speculation. However, Fisker often works with outside advisors to help manage its business and assist in developing and executing strategies. Fisker is focused on raising additional capital and engaging in a strategic partnership with a large automaker. The company is also continuing to pursue its shift to a Dealer Partnership model in both North America and Europe. The leadership team is laser-focused on these efforts.â€
It had also mentioned the partnership talks during its earnings call. Several outlets reported that Nissan was interested in collaborating on Fisker’s proposed Alaska pickup.
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Fisker’s stock recovered by more than a third during pre-market tradiing following the MarketWatch report.