[Moo Brief] FFIE: Underperformance in Q4, what is the future of FFIE?

Moomoo CA joined discussion · May 28 23:11

In the fiscal fourth quarter of 2023, $Faraday Future Intelligent Electric Inc.(FFIE.US)$'s revenue decreased by 58% to $233,000, 100% coming from auto sales. Cost of goods sold increased by 23% to $20 million, and net profit dropped by 7% to -$84 million. Faraday's after-hours stock price fell by 27.44% to $0.85 at 11:05 PM EDT on May 28. This month, the company launched the ultimate AI TechLuxury FF 912.0 Futurist Alliance, priced at $309,000, as well as the eco product aiHypercar+, and opened for reservations in both the United States and China. Today, Nasdaq approved the company's application to continue trading.

On April 24, Faraday received a delisting letter from NASDAQ because its stock closing price was less than $1 for 10 consecutive trading days, which did not comply with Nasdaq listing regulations. As one of the stocks involved in the past few days' meme rally, the company experienced a severe "up and down" period, with a gain of over 2,851% from May 13 to 20 and a subsequent slump of 36% from May 20 to 24 in stock price. Until now, the firm has temporarily lifted the risk of delisting by keeping its stock price above $1.

For a long time, there has been ongoing ridicule about Faraday, and the recent meme craze has once again brought FFIE into the public spotlight. However, it is undeniable that Faraday's product competitiveness is low. As of April 24 this year, the firm only delivered 11 vehicles. When Faraday was originally listed on the Nasdaq on September 2, 2020, its market value was as high as $102.4 billion, and its opening price was as high as $2,400.

In January 2021, Faraday's stock price peaked at $4,980 with a market value of $212.5 billion. In contrast, its closing price as of May 27, 2024, is only $1.79, with a market value of $49.5 million. As an investor, will you buy Faraday, and if so, why?

Check the one-stop earnings hub for a better decision making.

[Moo Brief] FFIE: Underperformance in Q4, what is the future of FFIE?

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