cofounder Daniel Barel on Muck Rack

cofounder Daniel Barel

As seen in: Globes
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Articles

REE delists from Nasdaq, seeks stay of proceedings

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By cofounder Daniel Barel, Shiri Habib-Valdhorn
| Globes Verified
Five years after listing on Nasdaq through a SPAC merger at a market cap of $3.1 billion, Israeli auto-tech company REE Automotive (Nasdaq: REE) reached the end of the road last week, at least as a publicly traded company, with a Nasdaq delisting notice. The company currently has a market cap of just $6.11 million.
Open in Who Shared Issue with article?

REE to lay off half of workforce

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By Shiri Habib-Valdhorn, cofounder Daniel Barel
| Globes Verified
Due to the financial difficulties in which it is mired, Israeli auto-tech company REE Automotive (Nasdaq: REE) is set to fire half of its workforce. At the end of 2024, the company had 211 employees, including 92 in Israel, down from 300 employees at the end of 2022. 75% of the company's employees work in R&D, while 20% are in administration and general positions, and the remainder in sales and marketing.
Open in Who Shared Issue with article?
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