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The New York Stock Exchange suspended trading in Fisker Inc.’s Class A common stock (ticker FSR) on March 25, 2024, and began delisting proceedings. NYSE Regulation said the shares were no longer suitable for listing because their price was “abnormally low,” under Section 802.01D of the NYSE Listed Company Manual. This action was separate from an earlier notice that Fisker’s average closing price had stayed below $1.
What happened to Fisker stock?
On March 25, 2024, NYSE Regulation announced that trading in Fisker’s Class A common stock would be suspended immediately. Fisker disclosed the action in a same-day Form 8-K. The exchange cited Section 802.01D and “abnormally low” price levels as its reason for finding the shares no longer suitable for listing. NYSE Regulation’s announcement states the suspension and rationale; Fisker’s March 25 SEC filing reports the company’s notice.
The suspension was not simply the automatic result of Fisker’s earlier below-$1 warning. The two notices involved different NYSE rule sections, dates, and consequences.
How the two NYSE notices differed
| Date | NYSE rule | Stated basis | Immediate consequence |
|---|---|---|---|
| February 15, 2024 | Section 802.01C | Fisker’s average closing price was below $1 for 30 consecutive trading days. | A six-month period to regain compliance; the notice did not immediately halt trading or delist the shares. |
| March 25, 2024 | Section 802.01D | NYSE cited “abnormally low” price levels and determined the shares were no longer suitable for listing. | Immediate trading suspension and commencement of delisting proceedings. |
The February figures and cure period were reported by Fisker in its February 15 SEC filing. The March suspension was a distinct exchange action under Section 802.01D, as set out in the NYSE announcement and Fisker’s March 25 filing.
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What happened after trading was suspended?
Review and delisting
NYSE’s March announcement said Fisker could request review by a committee of the exchange’s board. In its April 10 Form 25 notice, NYSE said Fisker had not requested review within the specified period and stated that it intended to remove the shares from listing and registration on April 22, 2024. The Form 25 filing records that intended removal date.
Possible OTC quotation
Fisker said it expected its stock to be quoted on OTC Pink or another OTC Markets platform. The company warned that OTC trading would be significantly more limited and less liquid than trading on the NYSE, and that it could not assure continued quotations by broker-dealers, actual trading, or sufficient volume. This was Fisker’s expectation at the time, not confirmation of the stock’s present-day trading status. See the company’s March 25 filing.
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How the suspension related to Fisker’s later financial events
Fisker later reported that five consecutive trading days of suspension triggered an event of default under certain notes. That is a contractual consequence the company disclosed; it does not establish that the NYSE suspension alone caused Fisker’s financial distress or bankruptcy. The disclosure appears in Fisker’s May 2024 SEC filing.
In June 2024, Fisker Group Inc., Fisker Inc. and other US subsidiaries filed Chapter 11 cases in the US Bankruptcy Court for the District of Delaware. The cases were jointly administered, and the June filing described the companies as debtors in possession at that time. These later bankruptcy proceedings are part of the chronology, not the NYSE’s stated reason for suspending the stock. See the June 2024 SEC filing.
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
