All articles tagged with #stock collapse
Fiserv's stock plummeted 44%, wiping out $30 billion in market value, after CEO Mike Lyons announced a rollback of fee hikes on Clover, its flagship point-of-sale system, due to customer dissatisfaction and a review revealing management missteps and overpromising growth, highlighting the risks even established fintech companies face from management discipline and customer demand.
Fisker's stock plummets over 50% following a Wall Street Journal report suggesting the company has enlisted restructuring advisers to explore potential bankruptcy filings, although the report's reliance on speculative language and unnamed sources raises doubts about its accuracy. Fisker's executives have not provided comments or issued a statement to address the claims made in the article, leaving the company's future prospects uncertain.
Electric scooter company Bird will be delisted from the New York Stock Exchange (NYSE) after its stock collapsed, failing to maintain a market capitalization above $15 million for 30 consecutive days. The company's shares will now trade on the over-the-counter exchange. Bird, once valued at $2.5 billion, faced significant challenges during the pandemic as cities went into lockdown. Despite a recent acquisition and a reverse stock split, the stock lost 80% of its value this year, closing at 90 cents. Bird's interim CEO expressed disappointment but emphasized the company's commitment to shareholders, employees, and partners.