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TO MY ASIAN FRIENDS
$Faraday Future Intelligent Electric Inc. (FFIE.US)$ Asian retail traders got confused today in overnight market, the trading platform
"MooMoo" incorrectly displayed Authorised shares (440million) which are the total shares the company has but are not available for the public to trade.
It was displayed instead of the Outstanding shares (43million) which is the amount of shares available for retail traders to trade.
This made Asian traders THINK that along with the earnings call, they diluted the stock.
To clarify the available shares are still 43million as they always have been. FFIE said in the earnings call that they would not be diluting the stock until in the future and it would be on the condition that investors agree to it.
The earnings report was much better than all expected and things are still looking
"MooMoo" incorrectly displayed Authorised shares (440million) which are the total shares the company has but are not available for the public to trade.
It was displayed instead of the Outstanding shares (43million) which is the amount of shares available for retail traders to trade.
This made Asian traders THINK that along with the earnings call, they diluted the stock.
To clarify the available shares are still 43million as they always have been. FFIE said in the earnings call that they would not be diluting the stock until in the future and it would be on the condition that investors agree to it.
The earnings report was much better than all expected and things are still looking
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Alexandria : Moomoo confirmed the 440 million was correct ?
Alexandria : They are not changing it they said it was correct.
Aidan Blakney Alexandria : Yeah but it just isn't. Literally check anywhere else except moomoo and you'll see the right numbers
Moomoo Lily : Dear mooer, According to the annual report released by FFIE this morning, the company now has 439,941,332 shares of common stock, consisting of 439,674,662 shares of Class A common stock and 266,670 shares of Class B common stock. Furthermore, as disclosed in the Subsequent Events section on page 165 of the report, a portion of the principal and interest on the SPA loans has been converted into 398,600,000 shares of Class A common stock. Please find a link to the annual report here: XBRL Viewer We have updated the relevant data according to the annual report. Thank you.
Alexandria Aidan Blakney : I know. I have realised just how deep this runs. It is nearer to an impossibility.