I believe for those who actively invest in EV stocks, you should be familiar with the EV meme, Faraday Future! On Monday, Faraday unveiled its plan to regain compliance with Nasdaq's $1 minimum bid price requirement. This involves a proposal at the company's upcoming annual meeting of stockholders. The meeting will be held in July, although Faraday hasn't decided on a specific date yet. Faraday Future's FF91 Reverse stock split again! The proposal is a reverse stock split in a ratio between 1-for-2 and 1-for-40. The ratio will likely be much higher than 1-for-2, as Faraday stated that it would seek a stock price of at least $5 following a reverse split. FFIE stock must close at $1 or higher for at least 10 consecutive business days in order to regain compliance with Nasdaq's min
FFIE: A Penny Stock Forever?
Faraday Future was down more than 21% at one point after hours. The company withdrew its 2024 vehicle production target guidance . FF may never achieve or maintain profitability for a variety of reasons. ------------------- Are you a bagholder of bottom fisher of FFIE? What's your target price?
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