California-based electric vehicle (EV) startup Faraday Future is under the threat of being delisted from NASDAQ due to a significant drop in its share price. The warning from NASDAQ comes after Faraday failed to maintain a minimum share price of $1 for 30 consecutive trading days from November 9 to December 27, 2023. The company now has 180 days, until June 24, to boost its share price to at least $1 per share for a continuous period of 10 trading days. Failure to achieve this goal may result in NASDAQ initiating delisting procedures. Faraday recently resumed deliveries of its luxury FF 91 electric car, priced at $309,000, after a brief pause in May 2023. Despite launching the vehicle and receiving investments, the company faces challenges in meeting NASDAQ’s listing requirements.
