Hyperdrive
Fisker Delisted by NYSE as EV Maker Races to Save Itself
- Price fell to 9 cents before shares were halted Monday morning
- EV maker’s talks with automaker for investment were terminated
A Fisker Ocean electric SUV.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
The New York Stock Exchange announced Monday it was suspending trading of Fisker Inc. stock after the electric vehicle startup’s shares sank following news that it would not be getting an investment from a major automaker.
The NYSE said in a statement that Fisker shares were “no longer suitable for listing based on ‘abnormally low’ price levels” and trading would be suspended immediately. Before trading was halted at 9:35 a.m. Monday, Fisker shares fell 28% to 9 cents. The stock has dropped 95% since the start of the year.