Fisker has received a notice of non-compliance from the New York Stock Exchange. The EV startup’s stock spent more than a month under $1 on average, triggering the notice from the NYSE.
The Ocean SUV maker risks being delisted from the NYSE if it doesn’t comply. However, the company can resort to reverse stock splits to scale the minimum price requirement.
Fisker, however, explained there is no eminent risk of delisting as it has a six-month grace for compliance, as Automotive News reports.
Fisker’s issues are more than just with the NYSE. It manufactured more than 10,000 units in 2023 but delivered less than half. It has resorted to using dealerships in addition to its direct-to-customer sales model.
Fisker is also facing two probes by the National Highway Traffic Safety Administration, first for braking failures and second for the Ocean rolling away when parked.
Popular YouTube tech reviewer MKBHD has called the Fisker Ocean the worst car he ever reviewed. Among his complaints were the car software feeling incomplete (Fisker has released an update to its Ocean OS), unconventional storage solutions, glitches with the infotainment systems, etc. However, MKBHD acknowledged the car’s appealing design and satisfactory driving experience.
