$FFIE : Down and Out, despite Good News!
@JC888：
$Faraday Future Intelligent Electric Inc.(FFIE)$ It remains a mystery why US market is so negative / bias towards this luxury EV maker that was once touted to be $Tesla Motors(TSLA)$ ’s main rival. All this due to its more than fantastic technical specifications deemed worthy of a luxury sedan. All these harked back in its heady days where its stock price peaked at $55.35 in January 2021. Before its subsequent, 2 reverse stock split exercises, required to prevent FF from being delisted on the US bourse. Fast forward to 10 Apr 2024, its stock price has fallen by -99.84% to $0.091 per share. On 09 Apr 2024, Faraday Future (FF) made the following announcement: - It has just opened a sales office in Dubai. - This is a big step in their plan to sell electric cars in more places around the world. - FF will focus on selling EVs in 3 regions: the US, China, and the Middle East. - These regions are known for liking new and expensive technology. - In November 2023, FF started planning to sell cars in the Middle East by partnering with some local companies. - The new sales office is the next step in that plan. - FF wants to change the way people travel by making electric cars that are smart and connected. - FF is also looking for other businesses in the Middle East to work with. - They're interested in finding partners (a) to invest, (b) help them grow their business, and (c) sell more cars. Faraday’s CEO Matthias Aydt has the followings to say: - Opening the Middle East sales office is a key moment for the company, as they make inroads into the Middle East. - It shows FF’s commitment in being a part of an exciting and fast-growing market for electric, smart, and AI-powered cars in the region. Despite the positive next-step, I guessed the luxury car maker has forgotten that in order to flourish it must be able to: - Spur demand. - Ramp up production and meet demand. - Be profitable ultimately. Otherwise, it will forever remains a wannabe. What do you think are vital for FF to succeed as a luxury EV leader ? - Do you think Faraday Friday will be able to find its knight in shiny armour to get out of the rut? - Do you think can become a successful EV maker under the new CEO? 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
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