To The Moon

$Faraday Future Intelligent Electric Inc.(FFIE)$  has just received a letter from NASDAQ indicating that the EV maker is not in compliance with the listing rule and requesting the company to submit a plan to regain compliance within 180 days, while it is being placed on a list of non-compliant NASDAQ companies.

With a measly share price of mere 5 cents, the above non-compliance warning from the exchange is not unexpected. With a market capitalization of just $2.3 million, Faraday Future is highly susceptible to market manipulation, as witnessed by the daily wild fluctuations in its stock price and tug-of-war between the bulls and the bears, that are the short-squeeze speculators and fundamentalists respectively. As the EV maker continues to be plagued by worsening fundamentals without a credible turnaround strategy, it may not be long before the EV maker is issued an ultimatum for compliance or delisting.

After trending down for months and having short interest growing, $Rivian Automotive, Inc.(RIVN)$  may be ripe as the next short-squeeze target by the meme community. Despite embarking on drastic cost-cutting measures and layoff, its outlook remains gloomy as it struggles with slowing EV demands. Nevertheless, that has not stopped the EV maker from receiving an upgrade for its stock from "sell" to "hold" from UBS, after the stock is perceived to have been oversold. Should the EV maker post good news in its next earnings report, or even just promise good news in its guidance, short-sellers might be forced to cover their short positions, triggering a recovery of the stock price.

Likewise, EV demand is softening in China with narrowing profit margins amidst price war in the EV market. This is not helped by a deflationary Chinese economy and intensifying competition marked not least by the latest entry of the electronics powerhouse Xiaomi. Furthermore, with increasing competition from a growing number of conventional car makers jumping onto the EV bandwagon, I can't help but wonder if this will be a lost year for the Chinese EV trio $NIO Inc.(NIO)$ , $XPeng Inc.(XPEV)$ , $Li Auto(LI)$ . 

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