BUZZ-Fisker down on plans to pause production, raise funds
Reuters · 03/18 13:46
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** Shares of Fisker FSR.N down 10.2% at 1 cent in volatile trading after co said it would pause production and raise funds
** Co to pause production of EVs for six weeks and raise up to $150 mln in funding by selling convertible
** FSR had flagged substantial going concern doubts in the last week of February this year
** Co's stock touched a record-low on Thursday after report said FSR prepares for possible bankruptcy
** Co tries to a cash crunch and weak demand for its cars
** Stock has lost 90% of its value since the beginning of this year, while it lost about 76% in 2023
(Reporting by Pranav Kashyap in Bengaluru)
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