However, I doubt any shares consolidation will save the day in the longer run if Faraday Future is not able to demonstrate its worth amidst deteriorating fundamentals and worsening demands for its vehicles. It does not help that the EV maker focuses on ultra-luxurious EVs which are as expensive as houses, so that its customer base is restricted.
In fact, if there has not been short-squeeze by the meme community, the share price would have already been beaten to the ground. Until it is able to demonstrate sustainable profitability, I remain pessimistic on the long-term prospect of the EV maker.
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