Page 46 - Faraday Future News Today

There’s a new EV startup in town with some lofty goals.

(Reuters) -Electric-vehicle startup Faraday Future Intelligent Electric said on Friday it was planning a reverse stock split, as it looks to regain compliance with Nasdaq's minimum bid price requirements. Nasdaq requires shares trade above $1

Faraday Future Intelligent Electric plans to execute a reverse stock split to comply with Nasdaqs minimum bid-price requirements, as the electric vehicle start-up has only 36 cents as of Fridays close. In May, Nasdaq provided Faraday Future with another 180-day period to adhere to the standards after the company failed to meet them in January. Faradays reverse stock split proposition suggests a ratio ranging from 1-for-2 to 1-for-90 outstanding common stock; the final decision will depend on sto...

In May, Faraday Future had received the additional 180-day extension from Nasdaq to meet minimum bid price requirement after having received a notice in January notifying it did not satisfy the continued listing rules.

VinFast will make its public market debut faster, as it will enter a Special Purpose Acquisition Company (SPAC) agreement.

EV startups from Nikola to Lordstown Motors are set to extend a stock rally that has put the cash-strapped companies on track for hefty gains.

The winning streak has come without any apparent news or catalyst for the companies, leading several analysts and traders to point to a potential squeeze in the highly shorted stocks. For instance Nikola, which has more than doubled in value this week, has a short interest of 15.7%, according to Refinitiv. Other big gainers such as Lordstown and Workhorse Group have short interests of 15.2% and 24.3%, respectively.

The winning streak has come without any apparent news or catalyst for the companies, leading several analysts and traders to point to a potential squeeze in the highly shorted stocks.

Shares of Faraday Future Intelligent Electric Inc. fell nearly 25% in the extended session Friday after the EV company said that its board is planning a...

There’s a new EV startup in town with some lofty goals.