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Faraday Future Intelligent Electric Inc. To Carry Out 1-for-40 Reverse Stock Split On August 19th, 2024

Moomoo News ·  Aug 15 19:40

August 15th (Eastern Time) - $Faraday Future Intelligent Electric Inc. (FFIE.US)$ is about to implement a 1-for-40 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from August 19th, 2024.

$Faraday Future Intelligent Electric Inc. (FFIE.US)$ slipped 12.32% and closed at $0.1679 on August 14th with a turnover of $10.1 million. $Faraday Future Intelligent Electric Inc. (FFIE.US)$ now has a total market capitalization of $74.13 million.


What Is a Reverse Stock Split?

A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.

Note:

The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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