Faraday Future Intelligent Electric Inc. (FFIE) is experiencing a notable rise in its stock price today, driven by the announcement of an additional $30 million funding round. This capital injection is intended to support the development of Faraday Future's FX strategy, which aims to introduce a high-performance, cost-effective electric vehicle to the U.S. market. The funding news has sparked optimism among investors, as it follows a similar amount raised in September, indicating a continued commitment to the company's growth plans.
On Reddit, discussions are buzzing with speculation about a potential short squeeze, fueled by a known bear YouTuber's mention of the possibility. One user noted, "It’s not just the $30M investors. There’s lots of other big players coming in now," suggesting that the funding news might be attracting more significant interest from larger investors. This sentiment is contributing to the heightened trading activity and positive sentiment surrounding the stock.
The current price of FFIE stock is $1.54, marking a 16.67% increase from the previous close of $1.32. The stock has reached a high of $1.55 and a low of $1.32 so far today. Despite being just under four hours into the trading day, the stock has already seen an extraordinary volume of 15,827,546 shares traded, representing 228.70% of its average daily volume of 6,920,548 shares, indicating unusually intense trading activity this morning.