Fisker seeks cash infusion from automakers as shares tumble on financial uncertainty
• Fisker shares tumble 34% on Friday after the company warns it has "substantial doubt" about its ability to continue operating. It is seeking a cash infusion from an automaker.
• Fisker CEO confirms talks with automakers, hopes to close a deal "as soon as possible" that would include an investment and manufacturing partnership.
• The company pivots to a dealership sales model, aiming to accelerate growth, but Q4 revenue still misses expectations.
• Citi downgrades Fisker stock over concerns about its narrowing liquidity runway and lack of visibility.
• Despite interest in Fisker's Ocean EV, investors are spooked by the company's precarious financial position.