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What's Going On With Faraday Future Shares Tuesday?

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares are slumping in the premarket session on Tuesday. Yesterday, the California-based firm announced a reverse stock split of the company’s common stock.  The reverse stock split proposal includes a proposed range between 1-for-2 and 1-for-40 shares of outstanding common stock and a corresponding reduction in the total number of shares of common stock the company is authorized to issue. The company’s share price fell below Nasdaq’s minimum bid price requirement for listed companies for 30 consecutive trading days last ...