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3 hours ago
New York Stock Exchange preparing to delist EV maker Fisker shares
The New York Stock Exchange has notified the struggling electric car maker Fisker that it will suspend trading of its shares and begin the process of delisting the stock.
NYSE regulations cited Fisker’s “unusually low” trading price as a factor in the decision, the company said in a regulatory filing with the Securities and Exchange Commission. The stock was suspended early Monday, at a price of about 9 cents per share.
News of Fisker’s upcoming delisting comes after negotiations over a potential deal between Fisker and an unnamed major automaker broke down.
The stock is down about 95% in 2024 and more than 98% in the past year.
–Darla Mercado
4 hours ago
Investors remain in cyclical sectors despite risk of market pullback, strategists say
Last week, the market hit new highs following the March FOMC meeting. But Sam Stovall, chief investment strategist at CFRA Research, believes a stock market decline could be on the horizon.
“We’re coming off the post-FOMC high,” he said in an interview with CNBC on Monday. “The market is becoming increasingly vulnerable to market declines and price declines.”
Still, investors remain focused on cyclical sectors, and Stovall expects activity to improve in the energy, industrials and materials categories.
“They continue to say that the market is likely to benefit from lower interest rates and we will see an impact on more cyclical sectors,” he said. “It doesn’t look like investors are being very defensive right now. Instead of getting into consumer staples, health care and utilities, investors will continue to gravitate towards materials, industrials and energy.”
— Lisa Kailai Han
4 hours ago
Stock futures open near flatline
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