Video shows a fight breaking out on K Street near San Joaquin Avenue Thursday night.
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Police say the five teenagers range in age from 14 to 17 years old and are from Tulare and Visalia.
They all face charges of fighting in a public place and one teen has an additional charge for conspiracy to commit a crime.
Authorities also arrested 21-year-old Jason Delatorre on several charges, including fighting in a public place.
Investigators have identified the stabbing suspect but are not releasing his name.
The victim is expected to survive.
Officials say more arrests are expected.