Faraday Future Intelligent Electric Inc. (FFIE) has been the subject of intense discussion on Reddit forums, with users speculating about a potential short squeeze. Despite the absence of specific news driving today's stock movement, Redditors are buzzing about the stock's recent price action and the possibility of a significant rally. One user noted, "150 mil volume with 40 mil float and 96.37% owned by retailers… Yeah big pump," highlighting the stock's high retail ownership and trading volume. Another user expressed skepticism, warning, "You’ve seen the pump - now here comes the dump," suggesting caution amidst the excitement.
The discussions also touched on the company's financial struggles, with some users pointing out the high risk associated with investing in FFIE. A user commented, "Faraday Future Intelligent Electric Inc. (FFIE) faces significant financial challenges, with a 98.34% probability of financial distress," emphasizing the company's precarious financial position. Despite this, some investors remain optimistic about the potential for a short squeeze, with one user stating, "A short squeeze is occurring. If retail keeps on pushing the price up, the shorters will need to cover."
As of the latest update, Faraday Future Intelligent Electric Inc. (FFIE) is trading at $3.65, reflecting a 16.24% increase from the previous close.