Faraday Future stock was around $13.78 on July 21 with the pre-market of $18.02 which might seems not very attractive. However, the stock is awaited to rise by approximately 13.78% with the additional growth of pre-market for 25.40%.
Faraday Future reported that the merger with the Property Solution Acquisition was approved by the shareholders of the company. With the help of the merger, the company is aiming to gain more than $1 billion of gross proceeds and rename it Intelligent Electric. Also, the company announced that it will be traded on the Nasdaq under the FFIE name.
Faraday Future is one of the start-up technologies companies and currently focuses on the production of electric vehicles. The company was founded in 2014 and is based in Los Angeles, United States. The company has offices not only in the U.S but also in such cities as Beijing, Shanghai, and Chengdu.
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