Electric vehicle (EV) maker Fisker (NYSE: FSR) short-circuited on the market Friday. The company's share price fell by more than 7% on the back of some dispiriting news about financing. That decline was far steeper than the 0.1% fall of the S 500 index on the day. 

In a regulatory filing, Fisker disclosed that it has effectively ended an at-the-market (ATM) issue of its common stock. The EV company said this was due to its terminating of a distribution agreement of those shares with a pair of investment banks, JPMorgan Chase unit J.P. Morgan Securities and . 

The ATM offering was for up to $350 million worth of stock. Fisker said that as of this past Wednesday, July 12, around $23.4 million was still available under the program.

Continue reading

Source Fool.com