REE Automotive Ltd. (REE) dropped sharply on Thursday, falling over 69.28 percent intraday to $0.96 before recovering slightly to $1.12 amid heavy selling, after reporting continued quarterly losses and minimal revenue.
The company posted a net loss of $37.3 million for the fourth quarter of 2024, wider than the $35.2 million loss last year. Quarterly revenue came in at just $12,000, down from $455,000 in the year-ago quarter.
REE opened at $2.40 and traded between $0.8851 and $2.42 on volume of 4.3 million shares, significantly above its average of 134,337. The stock is now sitting at the lowest point of its 52-week range of $0.8851 to $11.72.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.