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

Aurora Reports 20% YoY Uptick In Global Medical Marijuana, Expects Benefits From International Cannabis Regulatory Reforms

By Jelena Martinovic
June 20, 8:59 AM
Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) announced on Thursday its financial and operational results for the fourth quarter and fiscal year 2024.The company reported a 5% year-over-year increase in revenue to CA$67.4 million ($49.1 million) in the fourth quarter. Global medical cannabis net revenue grew by 20% over the same period to CA$45.6 million. The increase in net revenue1 of $7.7 million was primarily due to higher sales to Australia and Europe in the current period following the success of newly launched innovative cultivars in these markets. 

ACB