$Faraday Future Intelligent Electric Inc.(FFIE)$ has rallied for 2 consecutive days so far, even as the electric vehicle maker continues to struggle under deteriorating fundamentals with worsening balance sheet and slowing demands.
The rally appears to be the work of the meme community betting on making quick gains from short-squeezing of the counter.
However, I believe that the rallies will be short-lived, and the downward spiral will resume once fundamentalists return to take control of the sinking ship.
I continue to suspect that the days of the EV maker are numbered, as it is weighed under looming prosp of delisting, unless a white knight comes to its rescue.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments