Faraday Future Intelligent Electric shares are trading lower after the company announced plans to regain Nasdaq compliance by effecting a reverse stock split that ranges between 1-for-2 and 1-for-40.
Portfolio Pulse from Benzinga Newsdesk
Faraday Future Intelligent Electric shares are trading lower after the company announced plans to regain Nasdaq compliance by effecting a reverse stock split that ranges between 1-for-2 and 1-for-40.
June 25, 2024 | 11:47 am
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Faraday Future Intelligent Electric (FFIE) shares are trading lower following the announcement of a reverse stock split plan to regain Nasdaq compliance. The split ratio ranges between 1-for-2 and 1-for-40.
The announcement of a reverse stock split is often perceived negatively by investors as it can indicate financial instability or an attempt to artificially inflate the stock price. This has led to a decline in FFIE's share price.
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