$Faraday Future Intelligent Electric Inc.(FFIE)$ is rising over 40% in the pre-market trading hours, after rallying almost 49% last night. One thing is apparent to me: the daily fights between the bulls and the bears. The bulls appear to be the meme community speculating on short-squeeze gains despite deteriorating fundamentals of the electric vehicle maker, while the bears are obviously the fundamentalists who have been rushing for the exit as the company's prospects worsen.
With a share price lower than 10 cents, Faraday Future Intelligent Electric had since 28 December 2023 received a written notice from the Nasdaq Stock Market LLC stating that the company has failed to maintain a minimum bid price requirement of $1 and until 25 June 2024 to regain the compliance, failing which, its securities will be subject to delisting. With a turnaround strategy to achieve profitability and defend shareholder values that seems to be empty talk with no convincing plans, I'm highly doubtful that its stock price would gain exponentially within the next 3 months, so I believe that it will just be a matter of time before the company will be delisted.
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