Game Over for FFIE 🥵🥵🥵
@Shyon：
Faraday Future Intelligent Electric today announced its financial results for its fourth quarter and full year ended December 31, 2023. FFIE Positive Financial Results For fiscal 2023, FF produced its first year of revenue as well as a reduced operating loss, and cash used in operating activities, while improving the composition of its balance sheet, as compared with fiscal 2022. These results were achieved through major cost reductions and cost discipline. FF reported revenue of $0.8 million for 2023 and cost of goods sold of $43 million, compared with no revenue and cost of goods sold in 2022. This reflects that the Company only began delivering vehicles in the third quarter 2023. Loss from operations was $286 million for 2023, as compared to a loss from operations of $437 million for 2022. The change was due to a significant reduction in operating expenses which registered $244 million in 2023 compared to $437 million in 2022. The improvement in operating expenses for the year was primarily due to lower research and development expenses as the Company completed product development and transitioned to fulfilling sales through manufacturing and production. Net loss improved to $432 million for 2023, as compared to $602 million for 2022. Poor Outlook - Booommmm... However, Faraday mentioned that it was withdrawing its production forecast for 2024 due to current market conditions and levels of funding, sending its shares down more than 50% in premarket trading Wednesday. Plunge show With the massive drop in share price after today's earnings, Faraday will definitely be hit with a delisting notice from the Nasdaq soon over its failure to comply with rules that require a minimum closing share price of $1. Game over for FFIE With all the bad news and management failure to proof their capabilities to the shareholders and also the high risk of being delisted, I am definitely $Faraday Future Intelligent Electric Inc.(FFIE)$ for the company. Game over for FFIE!!! 🤯🤯🤯 How do you think about this high risk stock? Come and join the discussion at below by sharing your points of view, thanks. @MillionaireTiger @CaptainTiger @TigerStars @Tiger_comments @Daily_Discussion @TigerGPT @Meme_Tiger
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