Faraday Future Intelligent Electric Inc. (FFIE) is experiencing a decline in its stock price today, with no significant new developments or announcements to explain the movement. On Reddit, discussions are focused on the company's existing Hanford, California plant, which received a $300 million investment for expansion back in 2022. Some users express skepticism about the company's progress, with one stating, "More spin and fake hype. That investment was from years ago. Nothing is happening at their 'factory'. This company continues to pretend they are making cars."
Additionally, there is chatter about the potential for a breakout, with short interest reportedly at 40%. A Reddit user noted, "Look for the breakout of 1.60. Massive gains possible," while others remain wary of the stock's volatility, describing it as a "constant pump and dump."
The current price of FFIE is $1.49, down 3.86% from the previous close of $1.55. The stock opened at $1.55 and has fluctuated between a high of $1.57 and a low of $1.47. Despite being just 30 minutes into the trading day, the volume is relatively low at 1,798,360 shares, representing only 11.58% of the average daily volume of 15,533,273 shares.