The clock is ticking for Faraday Future Intelligent Electric (NASDAQ: FFIE ). The upscale electric vehicle manufacturer faces several important deadlines in the weeks ahead. It has to get all of its Securities & Exchange Commission (SEC) filings submitted by July 31 to come into compliance with Nasdaq listing requirements.
And then it has to boost its share price above $1 for 10 consecutive days by Aug. 31. Otherwise, Faraday Future stock will be booted to the pink sheets.
Even if Faraday Future is successful, which, given recent comments by CEO Matthias Aydt, it seems it will be, that’s not the only hurdle confronting the EV maker. The company is in desperate need of money to survive. To achieve that, the EV stock is tearing pages out of the playbook used by Lucid Group (NASDAQ: LCID ) and Rivian Automotive (NASDAQ: RIVN ) .
If FFIE is succesful, it means not only will Faraday Future live but arguably could even grow. If that’s the case, should investors buy Faraday Future stock now on the chance for a rebound? Let’s find out. The Countdown Begins The luxury EV car company has until the end of the month to get all its late quarterly reports in order.
According to comments made at an all-hands meeting of Faraday Future employees, CEO Aydt indicated the company will get it done. It will then need to file its second-quarter report in a timely fashion soon after. The next hurdle is getting approval for the reverse stock split at Faraday Future’s annual shareholder meetin.