24H | Faraday Future Tumbles 40% in Overnight Trading; Sea Ltd Shares Drop over 3%

Tiger Newspress06-25

Faraday Future tumbled over 39% in overnight trading. Faraday Future announced that its Board of Directors has approved a proposal, among other proposals, to be submitted to stockholders for approval at the upcoming annual meeting of stockholders, to authorize the Board to effect a reverse stock split of the Company’s common stock.

The reverse stock split proposal includes a proposed range between 1-for-2 and 1-for-40 shares of outstanding Common Stock, and a corresponding reduction in the total number of shares of Common Stock the Company is authorized to issue. The final ratio will be determined by the Board after stockholder approval, with the option to abandon, delay or postpone the reverse stock split.

Sea Ltd shares dropped over 3% in overnight trading. Sea Limited was downgraded to Neutral from Overweight by J.P. Morgan due in part to increased competition from TikTok (BDNCE) and Temu (PDD).

"Incremental increases in competition are now likely to cap positive earnings revisions and share price in the near-term, in our view," said J.P. Morgan analysts Ranjan Sharma, Sigrid Qiu and Alex Yao, in a note.

J.P. Morgan also reduced its price target on the Singapore-based company to $78 from $84.

Sea Limited operates three core online businesses, including e-commerce, digital financial services and digital entertainment. Its share price has increased nearly 90% year to date.

TOP10 gainers in overnight trading:

TOP10 decliners in overnight trading:

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Faraday Future announced that its Board of Directors has approved a proposal, among other proposals, to be submitted to stockholders for approval at the upcoming annual meeting of stockholders, to authorize the Board to effect a reverse stock split of the Company’s common stock.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/e6296ea087f808ee2cd229f0dff9fae8\" tg-width=\"1170\" tg-height=\"1015\"/></p><p>The reverse stock split proposal includes a proposed range between 1-for-2 and 1-for-40 shares of outstanding Common Stock, and a corresponding reduction in the total number of shares of Common Stock the Company is authorized to issue. The final ratio will be determined by the Board after stockholder approval, with the option to abandon, delay or postpone the reverse stock split.</p><p><a href=\"https://laohu8.com/S/SE\">Sea Ltd</a> shares dropped over 3% in overnight trading. Sea Limited was downgraded to Neutral from Overweight by J.P. Morgan due in part to increased competition from TikTok (BDNCE) and Temu (PDD).</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/48ce080f763fec91676c7a05712aca58\" tg-width=\"1170\" tg-height=\"1019\"/></p><p>&#34;Incremental increases in competition are now likely to cap positive earnings revisions and share price in the near-term, in our view,&#34; said J.P. Morgan analysts Ranjan Sharma, Sigrid Qiu and Alex Yao, in a note.</p><p>J.P. Morgan also reduced its price target on the Singapore-based company to $78 from $84.</p><p>Sea Limited operates three core online businesses, including e-commerce, digital financial services and digital entertainment. Its share price has increased nearly 90% year to date.</p><h2 id=\"id_1428670322\">TOP10 gainers in overnight trading:</h2><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/11ec612265e8f52cdbbeb02300fe7f27\" tg-width=\"1170\" tg-height=\"2080\"/></p><h2 id=\"id_2329928591\">TOP10 decliners in overnight trading:</h2><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a2f70bd3cb89bcf2b266b3e1baba8c5b\" tg-width=\"1170\" tg-height=\"2192\"/></p><p><strong>Trade US Stocks 24/5 with Tiger Trade!</strong></p><p><img src=\"https://community-static.tradeup.com/news/cb2a68ea7a1c0e44eb3c83005b3fcbbc\" alt=\"\"/></p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>24H | Faraday Future Tumbles 40% in Overnight Trading; Sea Ltd Shares Drop over 3%</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n24H | Faraday Future Tumbles 40% in Overnight Trading; Sea Ltd Shares Drop over 3%\n</h2>\n\n<h4 class=\"meta\">\n\n2024-06-25 09:51 北京时间&nbsp;&nbsp;&nbsp;<strong>Tiger Newspress</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Faraday Future tumbled over 39% in overnight trading. 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