Faraday Future Intelligent Electric Inc. (FFIE) is seeing a rise in its stock price today, potentially driven by discussions on social media platforms. A Reddit post speculated that the impending ban on TikTok could inadvertently benefit Faraday Future. The post suggested that as millions of Americans explore alternative platforms like the Chinese app "Red Note," they are being exposed to the capabilities of Chinese electric vehicles, which could boost interest in Faraday Future's offerings. The user expressed optimism about the company's future, noting its plans to roll out multiple affordable models by the end of the year and considering increasing their investment in the stock.
The current price of FFIE is $1.60, up 4.65% from the previous close of $1.53. The stock opened at $1.55 and has reached a high of $1.65 and a low of $1.55 so far today. Despite being early in the trading day, the volume is relatively low at 1,873,083 shares, representing only 11.99% of the average daily volume of 15,621,152 shares.