Faraday Future Intelligent Electric Inc. (FFIE) began trading on a split-adjusted basis on Monday following a 1-for-40 reverse stock split. This means that for every 40 shares of the company’s outstanding common stock, one share was automatically created. The total authorized share count was reduced from 4,169,812,500 to 104,245,313. This move aims to increase the stock price and potentially improve the company’s financial standing.
Along with the reverse stock split, Faraday Future also announced a launch event for its China-U.S. Automotive Bridge Strategy on September 19th. This event will unveil the company’s execution plan for the strategy and introduce further details about its second automotive brand. The strategy aims to bridge the gap between the U.S. and Chinese automotive industries through collaboration and industrial coordination.
Matthias Aydt, Global CEO of Faraday Future, stated that the Bridge Strategy could introduce a more affordable electric vehicle, leveraging the company’s core technologies from the FF 91, which is priced at $300,000. This mass-market second brand could make the ‘AI car of the future’ accessible to a wider audience. Faraday Future has engaged in discussions with several leading Chinese original equipment manufacturers (OEMs) and global suppliers, receiving positive feedback on the potential impact of this strategy.
For those interested in investing in Faraday Future, shares are typically purchased through a brokerage account. Many platforms allow the purchase of ‘fractional shares’, enabling investors to own portions of stock without buying an entire share. As of writing, FFIE is trading at $4.24 per share. For those seeking to bet against the company, a more complex process involving options trading platforms or short-selling may be necessary.
It’s important to note that investing in stocks involves risks. This information is for informational purposes only and should not be considered financial advice.
