Streetbeat News

FFIE

Faraday Future Intelligent Electric Inc.

https://www.ff.com

Industry

Auto - Manufacturers

Faraday Future Intelligent Electric Inc. engages in the design, development, manufacture, engineering, sale, and distribution of electric vehicles and related products in the United States and internationally. The company was incorporated in 2014 and is headquartered in Gardena, California.

Open

1.32

Mkt cap

106M

Volume

4.1M

High

1.45

P/E Ratio

0.00

52-wk high

156.00

Low

1.28

Div yield

N/A

52-wk low

0.99

Faraday Future Intelligent Electric (FFIE) plans to implement a reverse stock split at a ratio of 1-for-40, effective August 16.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 10:01 am

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) has delivered its second FF 91 2.0 Futurist Alliance vehicle as part of its ongoing Start of Delivery Second Phase (SOD2). Wei Gao, Head of Global Communication and Community Sales, is the latest recipient.

Portfolio Pulse from Benzinga Newsdesk

August 13, 2024 | 6:38 am

The EV market experienced a turbulent week with significant developments. Tesla launched its Cybertruck in Canada and reported strong sales in China, but faced criticism from Sen. Elizabeth Warren. Rivian and Nikola exceeded Q2 expectations, while Lucid received a $1.5 billion cash infusion from its largest shareholder. Canoo faced a lawsuit, and Huawei entered the EV market. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 2.58% for the week.

Portfolio Pulse from Shanthi Rexaline

August 10, 2024 | 1:30 pm

Shares of auto-related companies are trading lower due to overall market weakness and concerns about a US economic slowdown, which could impact demand.

Portfolio Pulse from Benzinga Newsdesk

August 05, 2024 | 3:06 pm

Faraday Future has entered into a waiver agreement with certain investors and agreed to make voluntary adjustments to SPA notes. This development is likely to impact the company's financial stability and investor confidence in the short term.

Portfolio Pulse from charles@benzinga.com

August 05, 2024 | 10:05 am

The EV sector faced selling pressure last week amid a broader market downturn. Tesla's stock dipped despite strong sales in China and positive updates on its FSD technology. Uber partnered with BYD to introduce 100,000 new EVs to its platform. Lucid Motors provided an update on its Gravity SUV production. Ford reported a significant increase in EV sales for July. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 3.47% for the week.

Portfolio Pulse from Shanthi Rexaline

August 03, 2024 | 5:30 pm

Faraday Future shares are trading higher after the company announced it regained Nasdaq compliance.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 7:47 pm

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares are trading higher after the company provided a business update and regained compliance with Nasdaq reporting requirements. The company reported a significant reduction in losses and operating expenses for Q1 2024 compared to the same period last year. The new China-U.S. Automotive Bridge Strategy and recent fundraising efforts are expected to drive future growth.

Portfolio Pulse from Erica Kollmann

July 31, 2024 | 3:07 pm

Shares of Advanced Micro Devices, Inc. (AMD) surged over 9% in pre-market trading after reporting better-than-expected Q2 earnings and sales. Several other stocks also saw significant pre-market movements, including Primech Holdings Ltd. (PMEC), Heramba Electric plc (PITA), and NuZee, Inc. (NUZE) among gainers, and FibroGen, Inc. (FGEN) and MacroGenics, Inc. (MGNX) among losers.

Portfolio Pulse from Avi Kapoor

July 31, 2024 | 9:46 am

Faraday Future has regained Nasdaq compliance and reported significant financial improvements for Q1 2024. Operating expenses dropped to $22.9 million from $95.8 million year-over-year, and the loss from operations decreased to $43.6 million. Cash from operating activities improved to a loss of $14.7 million from negative $103.0 million in Q1 2023. The company had $499.9 million in assets and $298.4 million in liabilities, with a book value of $201.5 million as of March 31, 2024. Shares of Class A common stock increased slightly from May to July 2024.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:57 am

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