Faraday Future (FFIE): Not Looking So Bright
SC has highlighted this Insight as a Top Pick
546 Views11 May 2022 10:18
SUMMARY
- EV start-up Faraday Future (FF) will be de-listed by the Nasdaq if it fails to file its 2021 annual report & Q1 2022 results by May 16th.
- FF has no revenues yet, but plans to start production in Q3. Cash as of March-end was only $273m vs cash burn of $181m & payment obligations of $193m.
- FF's growth strategy is risky & relies on the ultra-luxury car market, which is peaking. Without financing, FF may struggle to survive this year.
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