Faraday Future Intelligent Electric shares are trading higher. The stock may be rebounding after the company, on Tuesday, announced that it will effect a reverse stock split.
Portfolio Pulse from Benzinga Newsdesk
Faraday Future Intelligent Electric shares are trading higher following the announcement of a reverse stock split.
June 26, 2024 | 7:53 pm
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Faraday Future Intelligent Electric shares are trading higher after the company announced a reverse stock split.
The announcement of a reverse stock split is often seen as a move to increase the stock price by reducing the number of shares outstanding. This can attract more investors and improve the stock's market perception, leading to a short-term price increase.
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