Fisker Inc.

FSR

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The exchange said Monday that Fisker's stock is “no longer suitable for listing” because of “abnormally low” price levels.

The New York Stock Exchange on Monday said it would begin the delisting process for Fisker Inc. stock, after shares of the struggling electric-vehicle maker plummeted earlier in the day after the company said a deal to secure a financial lifeline fell through.

NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (“NYSE” or “Exchange”) announced today that the staff of NYSE Regulation has determined to commence proceedings to delist the Class A common stock of Fisker Inc. (the “Company”) — ticker symbol FSR — from the NYSE. Trading in the Company's Class A common stock will be suspended immediately. NYSE Regulation has determined that the Company's Class A common stock is no longer suitable for listing based on “abnormally low” price levels, pursuan.

Shares of Fisker Inc. (FSR) plunged to their all-time low and and trading was halted Monday after the struggling electric vehicle (EV) maker reported an unidentified “large automaker” that it was in negotiations with for a potential transaction had ended the talks. The news added to concerns that the maker of the Ocean SUV could be forced into bankruptcy.

Fisker (NYSE: FSR ) will hold its special meeting of stockholders on April 24 with three major proposals up for vote. Unfortunately, all three of the proposals will likely be viewed in a negative light by shareholders.

Fisker (NYSE: FSR ) stock is down more than 28% after the electric vehicle (EV) company announced that the large, undisclosed automaker it was engaging in talks with — rumored to be Nissan (OTCMKTS: NSANY ) — had terminated the negotiations. Fisker noted that it would review strategic alternatives, which include a possible in or out of court restructuring, equity issuance, or sale of assets.

The negotiations were critical to giving the California company a lifeline to stave off bankruptcy. Shares traded below a dime.

Fisker (FSR) shares plummet Monday morning after disclosing investment negotiations with the unnamed "large automaker" it was in talks with have fallen through. Yahoo Finance Live examines Fisker's stock and the EV startup's business model after it paused production for six weeks.

Building a profitable EV start-up takes a lot of money.

Fisker (NYSE: FSR) stock price tumbled by more than 30% on Monday as bankruptcy risks continued. It crashed to an all-time low of $0.09 after the company ended talks with a large automaker.