1 Green Flag and 1 Red Flag for Faraday Future Stock
Faraday Future (NASDAQ: FFIE) has repeatedly disappointed investors since its public debut last July. The maker of electric SUVs went public by merging with a special purpose acquisition company (SPAC), and it initially told investors it could ship its first vehicle, the FF 91 Futurist, in the first quarter of 2022. After missing that deadline, it postponed its launch to the second half of 2022. On Dec. 15, it pushed that target back again to March 2023.
All those broken promises, along with investigations by the Securities and Exchange Commission and the Department of Justice, caused Faraday's stock to plummet more than 90% over the past 12 months. Its stock has also remained below $1 per share for more than three months, which greatly increases the risk of it being delisted before its first vehicle even arrives.
Image source: Faraday Future.
Source Fool.com
