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Faraday Future Intelligent Electricity (NASDAQ:FFIE) The jump continued to be unstable on Wednesday. 88% During morning trading, the stock was up more than 110% at its session high.
The catalyst for the big move may have been a few comments: Faraday Future (P.P.) founder YT Jia posted on social media siteOTCPK:VLKAF) Investment and partnership with Rivian Automotive (Rivian Automotive)ribbon).
“This investment in Rivian further highlights the enormous potential of the U.S. AI EV market and its leading edge in technology and products. It has attracted global giants and was a key reason I chose to launch FF in the U.S. We will continue to do so. We will work hard to realize this and discover FF’s enormous potential and infinite possibilities as soon as possible.”
Earlier this week, Faraday Futures (FFIE) said it was proposing a reverse stock split of up to 40:1 if its stock price naturally failed to bring the California-based company back into compliance with Nasdaq’s minimum bid requirements. FFIE said it also proposed an increase in authorized shares to better enable it to pursue equity and equity-linked strategic financing.
