Faraday Future Intelligent Electric Fails to Meet Nasdaq Requirements for Stock Exchange Listing
January 12, 2023
Trending News ☀️
It designs and manufactures electric automobiles, as well as related components and products. Recently, Nasdaq gave Faraday Future Intelligent ($NASDAQ:FFIE) Electric Inc. a written notice indicating that the company was failing to meet the requirements for continued listing on the stock exchange due to its failure to hold an annual meeting of stockholders within 12 months of its fiscal year-end of December 31, 2021. Faraday Future had previously delayed its annual shareholder meeting until sometime in 2021, due to the global pandemic. The Nasdaq Stock Market requires that all publicly traded companies must have an annual shareholder meeting within 12 months of the fiscal year-end. The company’s failure to comply with this requirement has resulted in the company facing a delisting from the stock exchange. As a result of the notice, Faraday Future has requested a hearing before a Nasdaq Hearings Panel in order to appeal its delisting.
In order to be reinstated on the Nasdaq Stock Market, Faraday Future must prove that it meets the requirements for continued listing on the stock exchange. The notice from Nasdaq is yet another setback for Faraday Future, which has already experienced financial difficulties in recent years. It remains to be seen whether Faraday Future will be successful in its appeal to remain listed on the Nasdaq Stock Market. If the company is unable to remain listed on the stock exchange, it could face further financial difficulties. In either case, Faraday Future’s future remains uncertain until the hearing panel makes its decision.
Stock Price
This means that the company has been unable to meet the minimum bid price of $1, which is one of the requirements for Nasdaq’s listing. It was hoping to gain access to a wider investor base to help grow its business. The company has been struggling with financial difficulties over the past few years, which has led to its inability to meet the Nasdaq requirements. In addition, the company has faced several lawsuits from former employees and other creditors who are seeking repayment of debts owed to them. This has put further strain on the company’s financial resources, making it difficult for it to meet the listing requirements. Despite the setback, Faraday Future Intelligent Electric Inc. is still hopeful of becoming a publicly traded company in the future. The company is currently working on restructuring its operations and finances in order to make itself more attractive to potential investors. It is also seeking to raise additional funds through private investments in order to improve its financial standing and meet the Nasdaq listing requirements.
However, the company is still working hard to improve its financial situation and become a publicly traded company in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FFIE. More…
| Total Revenues | Net Income | Net Margin |
| 0 | -482.47 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FFIE. More…
| Operations | Investing | Financing |
| -457 | -170.52 | -41.36 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FFIE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 540.68 | 253.36 | 0.7 |
Key Ratios Snapshot
Some of the financial key ratios for FFIE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | – |
| FCF Margin | ROE | ROA |
| – | -99.6% | -54.2% |
VI Analysis
FARADAY FUTURE INTELLIGENT ELECTRIC’s fundamentals reflect its long-term potential, and this can be seen easily by analyzing it with the VI app. Based on the VI Star Chart, the company’s intermediate health score is 4/10, which implies that it might be able to sustain future operations even in times of crisis. FARADAY FUTURE INTELLIGENT ELECTRIC is classified as an “elephant”, a type of company that is rich in assets after deducting off liabilities. Investors who are interested in such companies may be looking for longevity and stability over short-term gains. FARADAY FUTURE INTELLIGENT ELECTRIC is strong in assets, medium in asset and weak in dividend, growth, and profitability. This means investors should consider investing in the company if they are looking for a more stable long-term investment and are willing to take on more risk. In addition, investors should look into the company’s financials and cash flow statements to get a better understanding of its financial health before investing. Analysis of these statements will help investors determine if the company is able to sustain its operations and is equipped with enough liquidity and capital to pay its debts and obligations. Overall, FARADAY FUTURE INTELLIGENT ELECTRIC is an attractive investment option for investors who are looking for a more stable long-term investment. However, investors should do their own due diligence and analyze the company’s financials before investing. More…
VI Peers
The competition in the electric vehicle market is heating up as companies jockey for position. Faraday Future, BAIC BluePark New Energy Technology Co Ltd, SAIC Motor Corp Ltd, and Arrival are all vying for a share of the market. Each company has its own strengths and weaknesses, and it will be interesting to see how the competition plays out.
– BAIC BluePark New Energy Technology Co Ltd ($SHSE:600733)
BAIC BluePark New Energy Technology Co Ltd is a Chinese state-owned enterprise and one of the largest automakers in China. The company has a market cap of 25.81B as of 2022 and a Return on Equity of -31.42%. BAIC BluePark New Energy Technology Co Ltd manufactures and sells electric vehicles and batteries. The company also provides vehicle financing, leasing, and fleet management services.
– SAIC Motor Corp Ltd ($SHSE:600104)
SAIC Motor Corp Ltd is a Chinese multinational automotive manufacturing company headquartered in Shanghai, China, with over 80,000 employees. The company sells passenger cars, trucks, buses and coaches under the SAIC, MG, Roewe and Maxus brands. In 2016, SAIC Motor had the largest sales volume of any Chinese automaker and the seventh largest sales volume worldwide.
The company has a market cap of 164.04B as of 2022 and a ROE of 7.19%. SAIC Motor is one of the leading automakers in China and is quickly expanding its reach globally. The company is committed to innovation and providing quality products and services to its customers.
– Arrival ($NASDAQ:ARVL)
Arrival is a technology company that designs and manufactures electric vehicles. The company has a market cap of $485.12 million and a return on equity of -6.58%. Arrival was founded in 2015 and is headquartered in London, United Kingdom.
Summary
Faraday Future Intelligent Electric Inc. has failed to meet the requirements for listing on the Nasdaq stock exchange. The company failed to meet the minimum bid price requirement and market value requirement set by Nasdaq. Investors should consider these failures as a warning of potential risks associated with investing in the company.
Faraday Future Intelligent Electric Inc. has not yet released financial results or other information that can be used to assess its profitability and performance. Investors should further analyze the company before investing in it.
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