Why Faraday Future Stock Rocketed 26% Higher Today
Ever-volatile specialty electric-vehicle (EV) stock Faraday Future Intelligent Electric (NASDAQ: FFIE) had yet another dramatic session on the stock exchange Thursday. The luxury EV maker's shares blasted skyward by almost 26%, following shareholder ratification of several measures that will help the company stay on the stock exchange and solicit funding.
Two days after finally rolling out, to great fanfare, its first FF 91 2.0 Futurist Alliance model, Faraday held a special meeting of shareholders to vote on several matters.
The first was its proposal to enact a reverse share split, a move that will allow its stock to continue being listed on the . That, thankfully for investors, passed by an overwhelming majority.
Source Fool.com
