Faraday Future Tumbles 30% as EV Maker Proposes Reverse Stock Split Ratio of Up to 40:1

Tiger Newspress06-25

Faraday Future, a California-based global shared intelligent electric mobility ecosystem company, announced that:

The Company is proposing a reverse stock split ratio of up to 40:1. The Company may defer or not implement a reverse stock split if its stock price naturally gets the Company into compliance with Nasdaq’s minimum bid requirements.
The Company is also proposing an increase in authorized shares that would enable it to better pursue equity and equity-linked strategic financing.
The Company is considering hosting a retail investor community day.

Faraday Future shares tumbled 30% in morning trading Tuesday.

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