Fisker Stock Soars 120% on New Dealer Partner News Despite Bankruptcy Risk


  • Fisker (FSRN) stock is surging today on news of a new partnership.
  • But even good news doesn’t outweigh the EV maker’s many problems.
  • Fisker remains close to bankruptcy, even on one of FSRN stock’s best days in recent memory.
Fisker stock - Fisker Stock Soars 120% on New Dealer Partner News Despite Bankruptcy Risk

Source: Eric Broder Van Dyke /

To describe Fisker’s (OTCMKTS:FSRN) recent saga as a rollercoaster ride would be an understatement. That includes today’s performance for Fisker stock.

Last month, the New York Stock Exchange notified the struggling electric vehicle (EV) producer that shares would be delisted. After failing to trade above the $1 level, it seemed like Fisker’s run had come to an end. The possibility of bankruptcy has loomed large over Fisker stock in recent months, pushing shares down significantly. But today, shares closed the day up on news that Fisker has inked a new dealer partnership.

When a penny stock that trades well below $1 per share surges more than 120% in one day, it’s hard not to take notice. But given the many problems still facing this company, investors should proceed with caution when it comes to FSRN stock.

Fisker Stock: Still a Cautionary Tale

Since 2024 began, things have gone from bad to much worse for Fisker stock. The company opted to slash EV prices in March, the same month that news broke that it had misplaced customer payments. InvestorPlace’s Eddie Pan has described Fisker’s path forward as “laden with potholes” and now, its road looks as rocky as ever.

Today brought news that the company has signed a deal with a dealer in Miami after adding additional dealer partners in Europe. However, a few new partnerships doesn’t mean that it will be a smooth journey back to success from here.

Investors should remember that bankruptcy concerns are still very prevalent with Fisker and that shares could come crashing back down to earth as quickly as they rose. This recent growth spurt looks more like meme stock momentum than sustainable growth. As Eddie Pan reports:

“A combination of several other detrimental themes contributed to Fisker’s delisting, such as its lack of profitability and falling demand for EVs in favor of hybrids. To fix its growing inventory, the company announced that it would pause production for six weeks beginning on March 18. Last week, the company withdrew all of its guidance for 2024 after previously providing delivery guidance of between 20,000 and 22,000 vehicles.”

A Rocky Road Ahead

At this time, Fisker still faces significant risks and isn’t offering investors enough reason to believe it will suddenly begin a turnaround. The EV market is complicated enough right now, with things looking questionable for even the most stable companies. Fisker isn’t even close to being stable itself — in fact, it’s quite the opposite, with many investors having already lost faith.

While Fisker stock may be up today, FSRN remains a highly speculative play where the risk far outweighs the reward.

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 Publishing Guidelines.

Samuel O’Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O’Brient writes a weekly column on recent political news that investors should be following.

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