FFIE : What's Happening? Meme Rally?

$Faraday Future Intelligent Electric Inc.(FFIE)$ 

Faraday Future Intelligent Electric Inc (FFIE) stock is rising higher on Tue, 14 May 2024 as investors wonder if a massive short squeeze is coming for the electric vehicle (EV) company’s shares.

Investors will note that FFIE’s short interest is sitting at 36,342,623 shares.

That represents 95.33% of the company’s float. This makes it a prime target for a short squeeze.

One reason that could be happening is the recent meme stock rally.

Yes, I am referring to $GameStop(GME)$  and $AMC Entertainment(AMC)$ .

This has several shares that were shortsqueezed in 2021 taking off recently.

This is thanks to the return of Roaring Kitty, who started that prior meme rally.

FFIE may be a new target (??) that could get caught up in all of this action.

Faraday Future has also had a rough time of it lately, which has been weighing on its shares.

This has sparked the short interest in the stock and could also be what draws meme traders to it.

Pushing out shorts became a concentrated effort for these types of traders back in 2021.

FFIE Stock Movement. 

With all of this interest in FFIE stock comes heavy trading of the company’s shares.

This has more than 445 million shares of the stock changing hands as of this writing.

That’s a massive surge in trading volume compared to its daily average of about 41 million shares.

FFIE stock is up +155.8% as of Tuesday morning.

However, the stock is still down -74% YTD despite this rally.

My Viewpoints: (mine & mine only)

- If you managed to grab any of the meme stocks “cheap” - congratulations.

- While the stock keeps charting new “highs”, you would need to stay on top of things and exit either at first sign of a dip, to protect your profits.

- Or take a risk hoping that it might even rebound stronger.

- Whatever the action course, be aware of the rewards and consequences for each corresponding action.

- Or perhaps sell along the way when the meme stock keeps breaking new highs?

- At the end of the day, be safe and prosper!

- Do you think FFIE ascend in recent days is due to meme rally ?

- Do you think FFIE will be able to recover back to its heady heights in the past ?

If you find this post interesting, give it wings! ️ Repost and share the insights ?

Do consider “Follow me” and get firsthand read of my daily new post. Thank you.

@Daily_Discussion

@TigerPM

@TigerStars

@Tiger_SG

@TigerEvents