Faraday Future Intelligent Electric shares are trading lower after the company reported worse-than-expected FY23 sales results and announced that it is withdrawing its production target guidance. Also, the company received a written notice from the Nasdaq regarding its failure to timely file the Quarterly Report on Form 10-Q.
Portfolio Pulse from Benzinga Newsdesk
Faraday Future Intelligent Electric shares are trading lower after the company reported worse-than-expected FY23 sales results and announced the withdrawal of its production target guidance. Additionally, the company received a notice from Nasdaq for failing to timely file its Quarterly Report on Form 10-Q.
May 29, 2024 | 11:47 am
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NEGATIVE IMPACT
Faraday Future Intelligent Electric shares are trading lower due to disappointing FY23 sales results, withdrawal of production target guidance, and a Nasdaq notice for late 10-Q filing.
The combination of worse-than-expected sales results, withdrawal of production guidance, and regulatory issues with Nasdaq is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100