To The Moon

🌟🌟🌟I am surprised that $Faraday Future Intelligent Electric Inc.(FFIE)$  is up 12.2% today even though other Meme stocks like Gamestop and AMC were down.

What happened?

Faraday Future CEO Jia Yueting announced on a YouTube video that Faraday Future had restarted deliveries of its EVs.  CEO Jia revealed that the first delivery of an FF91, a 4 door crossover /SUV went to a retail customer.  This EV featured ample cargo space, high ground clearance and supercar performance.

Mr Jia said that the resumption of deliveries may represent a turning point for Faraday Future.  He said that there are 3 goals for Faraday Future. They are to secure strategic investment, to increase production capacity and to implement its US China Bridge strategy for the auto industry. 

This video came at a time when meme trading frenzy is heightened thanks to Keith Gill aka Roaring Kitty. 

Trading for just pennies as recently as May 13, Faraday Future has experienced an impressive rebound in recent weeks.  During this time, Faraday Future stock has skyrocketed from 6 cents per share to almost USD 4 per share at one point. 

This speculative EV play has since fallen back to less than USD 1 per share, yet remains up 10 times from its 6 cents price level.  However this rally is driven not by improved fundamentals of Faraday Future but from the recent series of Meme stock trading frenzy. 

Is Faraday Future's optimism justified? 

I believe it is still too early  to tell.  At the last closing price of just 61 cents per share on Friday , it is trading below the required benchmark of USD 1 per share required by Nasdaq. 

In fact Faraday Future is at risk of being delisted.  Nasdaq has served its letter of warning to delist the company and also not filing its earnings report for Q1 24.

Faraday Future is down but not out but I wonder when will Nasdaq pull the plug on the troubled EV company. 

Nonetheless anything is possible with Faraday Future.  It is now focusing on expanding in the Middle East as the 3rd pole of growth.  While this is in its early stages, this may just help Faraday Future attract additional capital in order to survive.  There may even be another reverse stock split.  This would be its 3rd reverse stock split should it happen. 

As far as I am concerned, with Faraday Future, it is hard to predict what happens next.   I certainly do not want to short the stock.    It seems that short sellers are moving on from Faraday Future as its previously high short interest has fallen below 3%.   Faraday Future is a high risk, high reward kind of stock. 

For now, Faraday's  Future is not assured but expect the unexpected with this volatile meme stock. 

@Daily_Discussion  @TigerStars  @MillionaireTiger  @Tiger_comments  @CaptainTiger