Fisker (NYSE:FSR) stock is sliding lower on Tuesday after the electric vehicle (EV) company updated investors on a non-compliance notice from the New York Stock Exchange.
A filing from the company reveals that the non-compliance notice is due to Fisker failing to file its quarterly earnings report in a timely manner. This covers its report for the quarter that ended on Sept. 30.
FSR has six months to file this report or face delisting. It’s also possible that the NYSE may grant the company another six months to file the report before it starts the delisting process.
What Is FSR Stock’s Problem?
Fisker’s problems filing a quarterly report come at the same time it’s dealing with trouble keeping a Chief Accounting Officer. The company just announced that current CAO Florus Beuting has resigned.
FSR stockholders will remember that this isn’t the first time that Fisker has lost a CAO recently. Beuting took over the role from John Finnucan, who stepped down in October after three years in the position. The new CAO only lasted a couple of weeks before departing the company.
All of this news serves as strong red flags for FSR stock and has investors selling the company’s shares this morning. As a result, FSR stock is down 4.3% as of Tuesday morning. The stock was also down 65.8% year-to-date (YTD) when markets closed on Monday.
There are plenty of other stock market stories that traders need to know about on Tuesday! Among that is what’s happening with shares of MorphoSys (NASDAQ:MOR) stock, Rivian (NASDAQ:RIVN) stock and Reliance Global (NASDAQ:RELI) stock today. All of that news is ready to go at the links below!
More Tuesday Stock Market News
- Why Is MorphoSys (MOR) Stock Down 20% Today?
- RIVN Stock Alert: Rivian CEO RJ Scaringe to Directly Oversee Product Development
- Why Is Reliance Global (RELI) Stock on the Move Today?
On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
