Stock in electric-vehicle start-up Fisker was falling early Wednesday after the company adjusted the timing of its third-quarter earnings release.
In a news release, Fisker said the decision was related to the appointment of a new chief accounting officer that became effective Nov. 6 after their predecessor departed, effective Oct. 27. The changes have “delayed the completion of the financial statements and related disclosures.” While the proposed delay is less than a week, reporting earnings on time is the minimum bar for a publicly traded company and failing to finish financial statements on time is considered a red flag. Investors will now be scrutinizing financial statements about to be released and making sure they square with everything that was reported in the past.
France Dernières Nouvelles, France Actualités
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