To The Moon

$Faraday Future Intelligent Electric Inc.(FFIE)$ This is one EV maker that will go down in history as the being resilient like a cockroach. No matter how you try to crush it, it always come back “on top” of things. Firstly, it survived two stock splits. - On 28 Aug 2023, it went under an 8-for-1 reverse stock split. - Barely 7 months later, on 01 Mar 2024, it undergone yet another 3-for-1 reverse split. Despite the efforts, the stock price is still under a dollar. Events Calendar. On 24 April 2024, it suffered a scare when it received winds that they just might be delisted. It should not come as a surprise to them because the company failed to comply with Nasdaq's rules regarding (a) bid price, (b) filing financial reports, and (c) maintaining minimum stock price requirements. In May 2024, they appealed against all 3 items, promising to fall in line. On 31 Jul 2024, on the run up to their annual meeting of stockholders’, it was announced that FFIE had regained compliance with their filings accepted. - For Q1 2024, FFIE managed to reduce expenses to $22 million from $95.8 million. - Operation loss also reduced to $43.6 million from $95.8 million. For that, their pre-market price is registering a +31% gain to $0.41 per share. More importantly, the 31 July meeting is seeking investors’ approval for the following proposals: (1) Seeks to increase authorized Class A and B common stock to $4.16 billion from 463.31 million, a drastic +800% increase or dilution of existing shareholder. (2) Seeks approval for a third reverse stock split in a ratio between [1-for-2] and [1-for-40]. It has until 31 Aug 2024 to close at or above $1 for at least 10 consecutive business days, failing which it faces delisting yet again. YTD Performance. FFIE stock price has basically been flatline throughout 2024 except for the brief Meme-Renaissance in May 2024 where the stock price rose to $1.80 before plunging down the ravine once again. Technical Analysis. - Looking at the summary, it’s a “Sell” rating overall. (see above) - While “technical” consensus points to a “Buy” rating. - And moving average consensus garnered “Strong Sell” rating. The technical analysis data is a let-down for it belies FFIE’s weaknesses. The two proposals will only serve to fatten FFIE’s CEO pocket for he will go on an Arab-rampage to sniff out more oil-money to fund his loss making EV factory. Do you think you will want to get into the action with FFIE ? DON'T! Do you think there’s still life left in this high-configuration EV or its just kicking the can further down the road. If you find this post interesting, give it wings! ️ Repost and share the insights ? Do consider “Follow me” and get firsthand read of my daily new post. Thank you. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents