Palantir Fell Over 3% in Premarket Trading Because of Faraday Future’s Predicament
Tiger Newspress2023-06-20
Palantir Technologies Inc. fell over 3% in premarket trading because of Faraday Future’s predicament.
Palantir's investment was part of the so-called Private Investment in Public Equity (PIPE) portion of the merger with a special purpose acquisition company (SPAC) that made Faraday Future public. The latter planned a reverse stock split and delayed EV deliveries.
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