The Long Investor

$FSR TOP 20

Added 2024-01-09 12:46:23 +0000 UTC

$FSR is showing incredible amount of weakness here now after losing the previous low at $1.35.

New CAO was announced yesterday before the market opened, which should have been a positive catalyst but it had the opposite effect on the stock and it dropped around -10% for the day.

Market Cap is sitting at $420 Million right now and the market appears concerned that they will need to dilute possibly to free up cash.

I believe this quarter they are generating real revenue now for the first time, by selling vehicles which has not been the case in previous quarters, apart from the last week or so in the last quarter.

This injection of cash is needed and would reassure the market but it will not be until their earnings report is released, around the 22nd of Feb, will the market know for sure that they are selling vehicles and have cash flow.

So there is a bumpy road ahead between now and their earnings report.

Losing $1.35 means the trend for now is down and this could go lower to the channel support line at $1.10.

It goes without saying that a stock below $1 and they are in trouble and will need to do something.....stock split, merger, buyout target etc...so $FSR needs to start getting vocal and communicating to the market about their plan and vision.