Part 6/8:
While Marques Brownlee's review undoubtedly accelerated Fisker's decline, it is essential to view the situation through a broader lens. The company was already in distress, reporting a staggering net loss of $463 million in 2023 and laying off 15% of its workforce. Even at its height, Fisker's stock had never risen above $1, pointing to systemic financial issues that predated the video.
Unmasking Internal Crises
Financial mismanagement plagued Fisker, revealing an ongoing "payment crisis". Reports uncovered missing customer payments and incomplete records, leading to challenges in accounting and an inability to complete an external audit. With several lawsuits filed against it due to unpaid debts and faltering agreements, the company was spiraling long before the review ever aired.