Reports of Fisker's demise are highly exaggerated?

I've been thinking about selling my main car for something more practical since I rarely ever drive it much anymore; was reminded of the horror of Fisker in an incredulously cheap local ad and found some semi-recent redditor coping.

Fisker was initially founded in 2007 as a sort of luxury electric vehicle. I'd only seen one of them on the highway in the city, but it was horribly ugly. The company had issues with production in 2011 and had to file bankruptcy for the first time on its government loans in 2013 after multiple issues with quality and production, including battery explosions.

It ended up being purchased by a Chinese company in 2014, which red to many improvements and much more high quarity parts, directry reading to its second bankruptcy firing rast year.

Anyways, the /r/fisker sub is somehow still active and full of cope, arguments, and complaints about bugs causing their cars to stop working and/or crash.

https://old.reddit.com/r/Fisker/comments/1804qwm/its_not_the_end/

https://old.reddit.com/r/Fisker/comments/1cmcmut/we_need_to_keep_this_brand_alive/

https://old.reddit.com/r/Fisker/comments/1brmv5m/reports_of_fiskers_demise_are_greatly_exaggerated/

https://old.reddit.com/r/Fisker/comments/1c5iwe8/cybertruck_deliveries_halted_due_to_car_being_a/

Some choice comments from right before they filed their second bankruptcy:

I am all in. Still holding 31000 shares and never planning on selling. I am here to stay.

Good luck bud. Hope you get something out of this. Really mean that :)

This subreddit is one of the few where it's very positive and not toxic.

Unfortunately not much a regular person can do besides word of mouth and showing the car off. Company needs a much more powerful assist right now

The company needs to get off its own peepee, fire the entire exec team, hire a competent one and start over. Unless that is done there is no amount of outside assistance that will help anyone outside the family.

The company is dead.

Dead company walking! Zero chance of salvaging this corrupt company.

Data to back that up?

Tesla was in FAR WORSE positions than this over their history.

Tesla had more funding though and also was ran better from a business perspective.

Tesla was in a spot where they had two weeks of cash on hand (ie no funding). They were completely out of money. At the last gong they got a 20M injection to keep them floating.

Meanwhile Fisker is here sitting on 400M and no fixed costs, and everyone acts as if they're already dead.

I own 10k shares at .13 and may buy 90k this week. I can see them getting financial support just like LUCID eventually if they can convince others to support. They actually have a demand for their product and it's growing. You may not like the company and how they have managed up until this point, but when you got something that sells it's hard to go away. There was a coffee company once that went to pinks and ran to double digits. It's high risk to own this stock but for under 5k, it's worth a risk. People don't want to get rid of their cars and stock and I can't blame them for doing so. I see a revival here for sure. EV will be pushed tremendously these next 5 years

I'm thinking the same. If they turn things around, it could be a huge payday. Im wondering how many class A shares are in existence at this point?

Some panic for when the rumors of bankruptcy were first announced:

https://old.reddit.com/r/Fisker/comments/1be4hjz/lets_calm_down_and_breathe/

https://old.reddit.com/r/Fisker/comments/1cb5x54/fisker_may_seek_bankruptcy_protection_in_30_days/

https://old.reddit.com/r/Fisker/comments/1bqq5d5/an_open_letter_to_fisker/

Can we still sell our shares at the opening of the market today?

Yes, for $0.

So does this mean the stock is worthless? Is there any hope at all? Serious answers only please

In bankruptcy shareholders are far down the waterfall provision of bankruptcy law in who gets paid. All the senior creditors (employees, bond holders, bank loans, vendors, lawsuits etc.) have to get paid out in full before shareholders see a penny. Not to mention the cost of the lawyers and bankruptcy itself are expensive and get top priority in being paid.

If Fisker liquidates their assets and has anything left over after paying the senior creditors in full then shareholders could receive something. But I doubt even the bondholders will get that much recovery.

Fisker declared bankruptcy because they have no money, a ton of debt and have little chance of generating money. Who is going to buy a car from a bankrupt company and does Fisker even have the money to make a car and sell at a profit? If Fisker had really valuable assets they would have sold them to cover their debts. It doesn't look like there's much chance of shareholders seeing much money, if any.

yes the bondholders are way, way underwater. what does fisker have left - a couple thousand pretty worthless cars thar wouldnt sell at a 50 pct discount, maybe some tooling and some worthless ip. might be worth 200 mil being really optimistic. debts are many multiples of that number. unless someone sees their ip as super valuable [super unlikely, theyve obv been for sale for months now with no takers] the equity is worth less than zero

Some type of recent hope still yet remains.

https://old.reddit.com/r/Fisker/comments/1g8sy34/i_hope_someone_goes_to_jail/