Fisker Faces Major Setbacks as Over 40,000 Reservations Canceled, Adding Financial Strain

• Over 40,000 reservations for Fisker's Ocean EV canceled recently, representing major setback • Cancellations add up to around $9 million in refunds, further straining finances • Fisker cut prices significantly across Ocean lineup amid low share price and uncertain future • Company struggling with inventory issues, pausing production for 6 weeks to address oversupply • Financial situation increasingly dire after potential investment deal collapsed, bankruptcy possible