Fisker Stock in Crisis: Burning Cash, Soaring Losses, Accounting Issues Lead to Plummeting Share Price

Fisker burned through $340 million in cash in 2022 and has warned it may not have enough cash to operate for the next 12 months
The company lost over $100 million more making vehicles in 2023 than it generated in revenue
Fisker has identified a "material weakness" in its accounting practices resulting in a delayed financial filing
The stock price has declined 99% from its peak in 2021, allowing for tax-loss harvesting if you sell
A possible turnaround is risky and would require significant new capital, but aggressive investors could bet on a rebound given the low stock price