Faraday Future Intelligent Electric Says It Is Withdrawing Its Production Target Guidance For 2024 Due To Current Market Conditions And Current Levels Of Funding
Portfolio Pulse from Benzinga Newsdesk
Faraday Future Intelligent Electric has announced the withdrawal of its production target guidance for 2024, citing current market conditions and funding levels as the reasons.
May 28, 2024 | 9:25 pm
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Faraday Future Intelligent Electric has withdrawn its 2024 production target guidance due to unfavorable market conditions and insufficient funding.
The withdrawal of production target guidance is a negative signal for investors, indicating potential challenges in meeting future production goals due to market and funding issues. This is likely to result in a short-term decline in FFIE's stock price.
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