Faraday Future Intelligent Electric shares are trading lower after the company reported Q2 financial results. Also, the company authorized a reverse stock split at a ratio of 1-for-40.
Portfolio Pulse from Benzinga Newsdesk
Faraday Future Intelligent Electric shares are trading lower after the company reported Q2 financial results and authorized a reverse stock split at a ratio of 1-for-40.
August 15, 2024 | 11:52 am
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Faraday Future Intelligent Electric shares are trading lower following the release of Q2 financial results and the authorization of a 1-for-40 reverse stock split.
The decline in share price is likely due to disappointing Q2 financial results and the negative market perception of the reverse stock split, which is often seen as a sign of financial distress.
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