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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment
1