Fisker Inc.

FSR

Market cap $52.8M

Fisker flagged doubts about its ability to remain in business in February and later failed to secure an investment from a big automaker, forcing it to rein in operations.

Fisker filed for bankruptcy protection late on Monday, becoming the latest electric-vehicle startup to collapse after Arrival and Lordstown Motors in a tough market dominated by Tesla and Chinese automakers.

U.S. electric vehicle (EV) maker Fisker filed for bankruptcy protection late on Monday, seeking to sell its assets and restructure its debt after facing rapid cash burn while attempting to deliver its “Ocean” SUVs in the United States and Europe.

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How much trouble is EV company Fisker in? Its stock has dropped from $6 last October to $.03.

There might be better times to invest in EV stocks, and I think now is the time to look for EV stocks to avoid instead. The sector is grappling with a myriad of challenges, with the biggest fishes losing a ton of value of late.

A few years after electric vehicles seemed poised to dominate the automotive industry, the stock market has sharply turned. Now, investing in electric vehicle stocks is an exercise in pain tolerance.

The EV sector continues to undergo a period of extreme difficulty. EV sales growth is slowing, adoption rates are not as high as they once were, and global demand has weakened severely.

With electric vehicle (EV) startup Fisker (OTCMKTS: FSRN ) seemingly flirting with bankruptcy and Fisker stock trading around 6 cents, Wall Street is souring on its manufacturing partner, Magna International (NYSE: MGA ). Specifically, one investment bank just downgraded MGA stock yesterday.

To describe Fisker's (OTCMKTS: FSRN ) recent saga as a rollercoaster ride would be an understatement. That includes today's performance for Fisker stock.