Faraday Future (FFIE.US) , which has been riding the meme stock wave and seen its share price soar in recent days, is now surging 33% to US$0.94 in pre-market after a two-day rocketing of 10x.
The US government recently announced that it would impose tariffs on Chinese electric vehicles and other products, and the outside world believes that FF is the only Chinese-backed EV concept stock that is locally developed in the US, which may help Chinese car companies and supply chains enter the US market.
In addition, the company's founder Jia Yueting recently posted a short video on social media platforms, announcing the start of the commercialisation of his personal IP, hoping to make money as soon as possible to pay off the company's debt, and subsidise the construction of cars, in an effort to support the basic operation of FF and give confidence to investors and shareholders. However, FF later issued a statement that Jia released the short film related to the company in his personal capacity, but not as an executive of the company. The company also did not approve the statement therein.
FF was founded in 2014 and listed on NASDAQ in July 2021 with an issue price of US$13.78 per share, and has since experienced funding constraints and executive departures. The company has repeatedly received delisting warnings for failing to comply with NASDAQ listing rules when its closing price has been below US$0.10 for ten consecutive trading days.
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