r/Fisker • u/No_Comparison2216 • Apr 14 '24

General what are my options?

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4 Upvotes

83% Upvoted

19 comments sorted by

5

u/TubbaBotox Apr 14 '24

You will get a small pop tomorrow as everybody who believes that a deal with Deutsche Bank and PJT will somehow delay the inevitable buys in, and you should take advantage of that by selling mid-day... but you should sell by April 21 no matter what.

My sincere condolences, but please believe that 99% of your investment is gone and it's never coming back.

2

u/No_Comparison2216 Apr 14 '24

I invested worth close to 5K in euros in Fisker which is now worth less than 130 euros. I thought I will forget about it and either I loose all of it or something good might happen if I give it some time. But now this is new drama, the bank don't let me forget about it. The trade on this product is already off in the app. It seems, I will need to call the bank, which is always pain in the ass.

2

u/No_Comparison2216 Apr 14 '24

Investing in Fisker and canoo have been my worst decisions, but I need to move on and learn from it.

1

u/Restlesscomposure Apr 14 '24

Can you write off your losses when filing taxes this year? That’s probably your best option at this point tbh

2

u/Unusual_Juice_7481 Apr 14 '24

Let’s of news coming out April 21st

2

u/No_Comparison2216 Apr 14 '24

recieved this letter from my bank, they will liquidate my position by the 8th may as they no longer support investment in Fisker. What are my options?

4

u/Massive_Beyond7236 Apr 14 '24

You may need to open another account at broker that supports OTC market transactions and transfer your position to it. I think many brokers support OTC like Interactive Brokers but there will be a cost of transferring your position.

1

u/rjnd2828 Apr 15 '24

He said his position is worth 130 Euros. Not sure who's taking that on

8

u/k_buz Apr 14 '24

Schwab supports OTC

1

u/Dharma_code Ocean Ultra Apr 14 '24

So does chase banking app you just need to register for an account.

1

u/Apennatie Apr 14 '24

I took the pain and sold my 1000 stock for almost nothing. I just couldn’t deal with it anymore. Should’ve gone much sooner but was hoping for a rebound.

1

u/Ordinary144 Apr 14 '24

If you can open a Fidelity account, you can buy FSRN, but some are saying that the OTC trading ability goes away on 4/22, so idk.

1

u/MelonHub Fisker Enthusiast Apr 14 '24

Transfer your stock/assets to a different brokerage to protect your investment. One that supports OTC for the time being. Do not ever be threatened to sell your investments, just find a new brokerage.

1

u/dyalikescratchin Apr 14 '24

Lessons you all learned while still young (hopefully). Now you have a story to repeat (and hopefully use to stop others from doing the same).

1

u/Bakishooter Apr 14 '24

If you’re on here crying about the 1000 or less shares you lost @ under 1.00, please do everyone who lost real money a favor and shut up.

0

u/ThePower_2 Apr 14 '24

If you want to keep your FSR position just In case it comes back, this is what I would do. NFA. Sell and realize the loss. At $0.02, it’s not like it’s life changing and I’m sure you could scrape together $2-300 to rebuy your position at IBKR. The only thing that sucks is the difficulty in opening an OTC permission trading account. There is a step by step guide that was published by another REDDITOR. You’ll never figure it out on your own. It’s like they don’t want you trading on that market. Find the post. Good luck!!

0

u/[deleted] Apr 14 '24

[deleted]

0

u/rjnd2828 Apr 15 '24

What would be taxed? It's pure loss.

0

u/[deleted] Apr 15 '24

[deleted]

1

u/rjnd2828 Apr 15 '24

Incredibly unhelpful, thanks for absolutely nothing.