Rebound or short-squeeze?

Like its intraday wild swings lately, $Faraday Future Intelligent Electric Inc.(FFIE)$   is rallying over 17% at the time of this writing in the early trading session today despite apparently no improvement in its fundamentals that would justify the climb. I believe that this is the feat of the meme stock community, as I could not find any news that would substantiate the stock rebound of a company that has been plagued by worsening demand, deteriorating balance sheet and a stock price that has fallen more than 99% within a year. Its pledge to turnaround the company, attain profitability and defend shareholder value has not shown any results so far, and its continuity as a going concern has caused an overhang over its stock price.

In fact, I'm not convinced that the rebound in stock price is any indication of the company's recovery, and I believe that the stock price has run ahead of Faraday Future's fundamentals, and it would resume its free fall once the meme frenzy party is over.

The macro headwinds are not helping Faraday Future either, as the EV market is seemingly getting saturated with Tesla-wannabes and other conventional vehicle makers jumping onto the EV bandwagon, so that pricing is increasingly becoming the weapon for snatching and defending market shares to the detriments of the profit margins for all EV makers.

Hence, I would take advantage of the unjustifiable rally in stock price to relinquish my holding if I'm a shareholder, or even sell a call option on the stock as I maintain my bearishness on the stock.