Faraday Future Plans Actions To Regain Nasdaq Compliance; Proposes Reverse Stock Split Ratio Of Up To 40:1
Portfolio Pulse from Benzinga Newsdesk
Faraday Future plans to regain Nasdaq compliance by proposing a reverse stock split with a ratio of up to 40:1. The final ratio will be determined by the Board after stockholder approval, with the option to abandon, delay, or postpone the split.
June 24, 2024 | 10:01 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Faraday Future proposes a reverse stock split with a ratio of up to 40:1 to regain Nasdaq compliance. The final ratio will be determined by the Board after stockholder approval, with the option to abandon, delay, or postpone the split.
The reverse stock split is aimed at regaining Nasdaq compliance, which is crucial for the company's stock to remain listed. However, the final impact on the stock price will depend on the Board's decision and market reaction to the split ratio.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100