Faraday Future Intelligent Electric Inc. (FFIE) shares have declined by 5.67% to $1.3395 as of November 26, 2024. The stock's movement today lacks a specific news catalyst, but it follows a recent announcement that the company will change its stock ticker symbol to "FFAI" and host an "FF AI Open Day" event in early 2025. This development may have contributed to some market uncertainty, as investors await further details on the company's strategic direction.
On Reddit, discussions about Faraday Future are vibrant, with users expressing mixed sentiments about the company's prospects. Some users believe the stock is undervalued, questioning why major hedge funds are investing and making call options if the company isn't promising. One user speculated, "Hedge Funds f***ing around will soon find out," suggesting a potential short squeeze due to high short interest. Another user shared skepticism about the company's future, stating, "They are going bankrupt. They can't even keep lowly 80K a year salary managers." Despite these concerns, some users remain optimistic, with one saying, "Guys we back in business! I'm gonna buy 5,000 shares."
Reflecting on the company's past valuation, a user remarked, "A few years ago it was valued over 100k+, that's insane. What happened?"