Today, Fisker (OTCMKTS:FSRN) is back in the green and finally, for a good reason. Recent reports indicate that the struggling electric vehicle (EV) startup may actually have a buyer. At a meeting, CEO Henrik Fisker recently told the company that his team is in talks with four different automakers who are all considering stepping in to save Fisker from bankruptcy. The founder also noted that his company still has time to entertain other offers, suggesting that he foresees even more interest. This is truly the saving grace that Fisker stock needs to stay afloat.

While nothing is guaranteed yet, shares are surging as waves of relief wash over investors. However, until the ink is dry and a buyer has been confirmed, any celebration may be premature.

A Lifeline for Fisker Stock?

After struggling earlier this week, Fisker stock is making up some of the ground it recently lost. As of this writing, it is up 70% for the day, taking its gains for the month to over 125%. This reaction makes sense, as it seems that Fisker may actually survive its current predicament and continue operations. That is, if one of the potential buyers comes through and closes a deal with the troubled company. As Business Insider reports:

“The all-hands meeting comes two days after Fisker warned investors it could seek bankruptcy protection within 30 days if it could not shore up more liquidity. The company said in the regulatory filing that it had just $54 million in cash equivalencies as of April 16 and “believes that its available liquidity will not be sufficient to meet its current obligations.”

If any buyer is to step forward, it will have to do so quickly. Fisker has 30 days to procure a deal before filing for bankruptcy protection, and that clock has already started ticking.

But history isn’t on the small company’s side. One month ago, Fisker stock plunged on news that its potential partnership with a major automaker, most likely Nissan (OTCMKTS:NSANY), according to rumors, had fallen through. Any of the potential partners could follow suit and decide not to do business with such an unstable company. Since Mr. Fisker did not reveal the names of any of the four automakers mentioned, it is hard to speculate as to a deal’s likelihood.

Clock’s Ticking

As InvestorPlace‘s Eddie Pan reported in early April 2024, Fisker has been at risk of imploding for weeks. Now, shares may be rising as optimism spreads among investors. But the CEO’s statements don’t guarantee that Fisker will actually receive the partnership it needs to stay alive.

Details are vague, and until one of the alleged buyers comes forward and expresses real interest, it will be hard to have much faith in a real recovery for Fisker stock. Deals can fall apart quickly and Fisker has many strikes against it, which further suggests that it will be a difficult sell to even an industry leader with deep pockets.

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On the date of publication, Samuel O’Brient 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.