Fisker's Stock Plummets as EV Manufacturer Adjusts Production Outlook and Faces Delays

Introduction:

Fisker (FSR) has taken a hit in the stock market, with shares plummeting over 20% in midday trade. This sudden decline comes in the wake of the electric vehicle (EV) manufacturer's decision to revise its production forecast and delay the filing of its quarterly report due to the discovery of "material weaknesses" in its financial controls. In this blog post, we'll delve into the details of this development and its implications for Fisker and its investors.

Revised Production Guidance:

Fisker CFO Geeta Gupta-Fisker revealed that the company is readjusting its 2023 production guidance to a range of 13,000 to 17,000 units. The rationale behind this adju