Actionable Stock Market Trading Newswire. Built for Traders, by Traders.
All news is property of their respective owners.

EV Firm Faraday Future Doubtful Of Going Concern: Report

Faraday Future Intelligent Electric Inc (NASDAQ: FFIE) said it had "substantial doubt" about continuing its operations.
byShivani Kumaresan
November 22, 2022
1 minute read
Total
0
Shares
0
0
0
0
0
0
  • Faraday Future Intelligent Electric Inc (NASDAQ:FFIE) said it had “substantial doubt” about continuing its operations.
  • The luxury electric vehicle company, Reuters reported, is also doubtful about the delivery of its FF91 luxury electric car.
  • The company said it ought to receive additional funds to finance operations and speed up production in the coming time.
  • Faraday Future’s Q3 loss was $(103.4) million versus a loss of $(303.9) million last year.
  • The company held $78.5 million in cash and equivalents as of September 30, 2022.
  • The electric vehicle start-up’s stock has plummeted 94% in 2022 so far, and it has been riddled with supply-chain snags and soaring costs of lithium and battery raw materials.
  • Price Action: FFIE shares are trading higher by 2.29% at $0.3480 in premarket on the last check Tuesday.
  • Photo Via Company
 
Total
0
Shares
Share 0
Tweet 0
Share 0
Share 0
Share 0
Share 0
Related Posts
Read More

What’s Going On With Archer Aviation Stock After Q1 Earnings?

By Erica Kollmann
May 10, 10:57 AM
Archer Aviation reported quarterly losses of 36 cents per share which missed the analyst consensus estimate of losses of 35 cents by 2.86%. The company reported a net loss for the first quarter of 2024 of $116.5 million. Archer said the loss represents investments required to achieve the key elements of its commercialization plan, including continued investment in the design, development, test and certification activities for its Midnight aircraft.

ACHR