Faraday Future Intelligent Electric Inc. (FFIE) is experiencing a notable uptick in its stock price, driven by several key developments. The company has recently secured $30 million in financing to bolster the production of its flagship FF 91 2.0 Futurist Alliance and the development of its mass-market FX brand. This financial boost is aimed at strengthening supply chains and operational partnerships, which could be enhancing investor confidence. Additionally, the FF 91 has garnered attention from high-profile figures like fashion influencer Suede Brooks, who has signed a lease agreement, further elevating the brand's visibility in the luxury EV market.
On Reddit, discussions are buzzing with speculation about the stock's potential. One user pointed out, "More than half of the free float is on loan, 20% short interest," suggesting that the stock might be poised for a short squeeze. Another user highlighted the company's strategic positioning, noting insider purchases and new processing sites for metals, which could indicate a strong foundation for future growth. Despite skepticism from some quarters, the sentiment among certain retail investors appears optimistic, with comments like "30k shares here. Let's get this bread," reflecting a bullish outlook.
The current price of FFIE is $1.32, marking an 11.87% increase from the previous close of $1.18. Despite being just over half an hour into the trading day, the stock has already seen a volume of 2,541,643 shares, representing 37.36% of its average daily volume of 6,802,847 shares, indicating heightened trading activity this morning.