It doesn't seem Faraday Future Intelligent Electric (NASDAQ: FFIE ) has long for this world. Faraday Future stock is down to 35 cents, revenue remains negligible and losses extend for as far as the eye can see.
Faraday Future (NASDAQ: FFIE ) stock is plunging lower after the electric vehicle (EV) company proposed a reverse stock split of between 1-for-2 to 1-for-40 in order to regain compliance with Nasdaq's minimum bid requirement. Faraday added that it would not pursue a reverse split if its shares could regain compliance naturally.
Faraday Future (NASDAQ: FFIE ) stock is falling hard on Tuesday after the electric vehicle (EV) company announced plans to regain compliance with Nasdaq Exchange listing rules. The biggest blow to FFIE stock comes from the EV company's plans for a reverse stock split.
The Faraday Future (NASDAQ: FFIE) stock price has tumbled as I predicted last week. It plunged by over 17% on Monday's regular session followed by a 20% plunge during the pre-market session.
You could almost feel retail investors celebrating in late May after shares of electric vehicle maker Faraday Future Intelligent Electric (NASDAQ: FFIE ) surged from 4 cents to $1.80. The stock briefly became the most researched stock on InvestorPlace.com, and social media sites made it sound as if the only direction FFIE could go was up.
In an extremely crowded and challenging electric vehicle market, investors need to be highly selective. Faraday Future Intelligent Electric (NASDAQ: FFIE ), which is often shortened to Faraday Future, might seem like an intriguing EV startup.
Despite progress, the electric vehicle (EV) industry still relies upon subsidies and tax incentives to increase adoption. These monies counter the high cost of batteries that put EVs above the price of average gasoline-powered cars.
Faraday Future Intelligent Electric (NASDAQ: FFIE ) may have dodged a bullet. The electric vehicle maker has been under the gun of seeing its shares delisted from the Nasdaq exchange.
Premium electric vehicle (EV) manufacturer Faraday Future (NASDAQ: FFIE ) — which sells electric-powered SUVs at prices rivaling homes in certain under-the-radar markets — saw its shares dip despite recent positive news. Faraday will start resuming deliveries after a four-month hiatus.
After a volatile month with some major swings, Faraday Future Intelligent Electric (NASDAQ: FFIE ) finally has a positive catalyst on the horizon. The electric vehicle (EV) producer has announced that it will restart deliveries on June 12 after pausing them four months ago.
Expert auto journalist and avid electric vehicle enthusiast James May recently articulated the biggest issue with the EV industry: ambition is ahead of technology. Yes, more charging stations are built every day, but the deeper issue is that a battery cannot replace the performance of a gas tank.
Although struggling against severe financial challenges, Faraday Future (NASDAQ: FFIE ) saw its shares jump 12% earlier on Friday. Upper management discussed strategic initiatives for the enterprise in a YouTube video.