** Fisker shares sink 36% to 20 cents premarket after report of electric vehicle startup preparing to file for bankruptcy
** Co hires financial adviser FTI Consulting and law firm Davis Polk to assist with possible bankruptcy filing, as per Wall Street Journal report
** FSR has lost nearly 56% of its value since co first flagged going concern risks on March 1
** EV demand has been hit hard as customers shy away from discretionary purchases due to higher credit conditions
** Tesla , Lucid and Rivian have lost between 32% and 50% so far this year, while the Global X Autonomous & Electric Vehicles ETF has shed over 1.4%
** Up to last close, FSR had tumbled 81.58% YTD, trading at a near 96% discount of its price of $10 when it went public through a special purpose merger deal (SPAC)
** At the time of merger, FSR was valued at about $2.90 bln
(Reporting by Johann M Cherian in Bengaluru)
((johann.mcherian@thomsonreuters.com;))
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