Faraday Future Intelligent Electric Inc Share News

Shares of Faraday Future (NASDAQ: FFIE ) stock are in the red today despite a positive update from the Nasdaq. On May 28, Faraday announced that it had requested a hearing in front of the Nasdaq Hearings Panel in order to present its plan for continued listing.

LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that the Company was notified on June 26, 2024 by The Nasdaq Stock Market LLC (“Nasdaq”) that the Nasdaq Hearings Panel has granted the Company's request for continued listing on Nasdaq subject to...

Faraday Future has jumped on the hope the company will find a bailout. Given the company's extremely weak financials, I don't see a way out of this for management.

Shares of Faraday Future (NASDAQ: FFIE ) stock are in the spotlight after the struggling EV company hosted Master Investment Group (MIG) CEO Sheikh Abdullah Al Qassimi at its headquarters in Los Angeles for a strategic meeting. MIG operates as an investment firm in the United Arab Emirates (UAE).

Yesterday, a prominent automaker provided a much-needed catalyst for electric vehicle (EV) stocks. In an update that surprised most of the automotive community, Volkswagen (OTCMKTS: VWAGY ) announced that it would be investing up to $5 billion in Rivian (NASDAQ: RIVN ) over time, and the entire sector took notice.

A bearish Thursday is lining up, with some blaming AI play Micron Technology, whose expectations didn't meet lofty Wall Street hopes, which follows some Nvidia wobbles earlier in the week.

The electric vehicle (EV) industry is abuzz today following a major partnership between Rivian (NASDAQ: RIVN ) and Volkswagen (OTCMKTS: VWAGY ). Volkswagen will invest up to $5 billion into Rivian over the next few years, starting with a $1 billion investment in exchange for a convertible promissory note.

The electric vehicle industry has been struggling, and it is easy to argue that most EV stocks are worth selling at this point. Rate cuts are unlikely to be fast enough, barring a recession, which would be even worse for EVs.