Youtuber Review Just Bankrupted This EV Stock

Well, folks, it looks like Fisker’s electric dreams have run out of juice. The US-based EV startup officially filed for Chapter 11 bankruptcy on Monday, hoping to jumpstart its finances and find a buyer for its assets. It’s a classic tale of high hopes and harsh realities, with the company’s ambitious plans now hitting the skids.

The warning signs were there. Back in February, Fisker’s quarterly earnings report read more like a eulogy. The company admitted it was low on cash and might not make it through the year without a financial lifeline. They even stopped putting money into future projects, like their much-hyped Alaska EV—complete with a cowboy hat holder (because who doesn't need one of those?).

Fisker’s spokesperson put it simply: "We’re proud of what we’ve achieved, but we’ve been hit by market and economic headwinds." In other words, they’ve been facing the perfect storm of financial woes, competition, and some serious quality control issues.

Speaking of quality, the Fisker Ocean SUV—their pride and joy—didn’t exactly wow the critics. YouTuber Marques Brownlee’s review titled “This is the Worst Car I’ve Ever Reviewed” was the cherry on top of a pretty rough sundae. His scathing critique, which has racked up 5.7 million views, sent Fisker’s stock into a nosedive faster than you can say "battery-powered heartbreak."

Fisker’s founder and CEO Henrik Fisker blamed the Ocean’s problems on incompatible software from different suppliers. It's like trying to make a gourmet meal with ingredients from five different chefs who hate each other. Not surprisingly, customers weren't thrilled with their meals, considering only half of the 10,000 SUVs produced last year actually delivered to buyers.

Beyond their own slip-ups, Fisker faced stiff competition from heavyweights like Tesla, Ford, and even China’s BYD, which have been gobbling up the EV market share. Established brands with deep pockets and proven track records made Fisker’s startup status a tough sell.

Now, with the EV industry itself hitting some speed bumps—like slowing sales growth and higher prices compared to gas-guzzlers—Fisker’s filing for bankruptcy feels like another symptom of a broader struggle. The company is in “advanced discussions with financial stakeholders,” but whether that means a last-minute rescue or a final curtain call remains to be seen.

So, as Fisker joins the ranks of other fallen EV startups like Volta Trucks and Lordstown Motors, it’s a stark reminder that the road to electric vehicle glory is paved with good intentions, but littered with financial potholes.

Philip Morris Stock Drops 3.5% After “Zyn” Controversy

Philip Morris has halted online sales of its popular Zyn nicotine pouches in the US. Why, you ask? Turns out, they got slapped with a subpoena in DC for selling flavored pouches where they’re not supposed to.

Philip Morris did a quick detective job and found that some online platforms and independent retailers were guilty of selling these forbidden flavors. The subpoena hit their affiliate, Swedish Match North America LLC, right in the nicotine pouches.

Now, they’re saying they might be in hot water and could face some serious fines if things don’t go their way. This news made their stock drop almost 3.5% before the market even had its morning coffee. Analysts are worried this could just be the tip of the iceberg. What if more states and localities start enforcing these bans?

For the uninitiated, Zyn pouches are like the tea bags of the nicotine world—just pop one between your gum and upper lip and you’re good to go. They've been flying off the shelves so fast that Philip Morris can barely keep up with the demand. Everyone’s using Zyn these days—maybe even your grandma.

But the Zyn craze hasn't been all smooth sailing. Critics, including Senate majority leader Chuck Schumer, have accused them of targeting the youth. And now, if Philip Morris discovers that these illegal sales are more widespread, they might have to make some big changes, which could really dent their sales.

Philip Morris, the big shot behind Marlboro, bought Swedish Match in 2022 for a cool $16 billion, mainly to get their hands on Zyn and its US distribution network. Since then, they’ve been pushing Zyn hard, with US shipments up nearly 80% to 131.6 million cans in the first quarter alone.

Interestingly, Zyn has found fans among conservative influencers. Former Fox News host Tucker Carlson, for instance, has been vocal about opposing restrictions on the pouches.

Meanwhile, British American Tobacco’s Velo pouches are waiting in the wings to swoop in and grab some market share if Zyn’s troubles continue.

Stock.News has positions in Tesla and Ford.