Faraday Future Intelligent Electric Has Regained Compliance With Nasdaq Listing Rule 5605(B)(1)
Portfolio Pulse from Charles Gross
Faraday Future Intelligent Electric Inc. has regained compliance with Nasdaq Listing Rule 5605(b)(1) following the resignation of board member Ke Sun. The company was previously non-compliant due to not having a majority of independent directors. The board has now determined that Ms. Li Han is independent, and reduced the board size from seven to six members, resolving the issue.
October 17, 2023 | 8:59 pm
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Faraday Future Intelligent Electric's compliance with Nasdaq Listing Rule 5605(b)(1) could positively impact investor confidence, potentially leading to a short-term increase in stock price.
Regaining compliance with Nasdaq's listing rules is a positive signal for investors, as it indicates that the company is adhering to governance standards. This could increase investor confidence in the company, potentially leading to increased demand for the stock and a short-term increase in stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100