Faraday Future Intelligent Electric (NASDAQ:FFIE), long considered one of the also-rans among electric vehicle stocks, made a huge splash today as it shot up over 35% in the closing minutes of Wednesday’s trading session. Faraday Future didn’t bring out any new financial information that might have offered some insight. Nor did it introduce any new technical developments. It did, however, offer up a video that featured Jason Oppenheim—real estate broker and reality TV personality, among other things—taking delivery of an FF 91 2.0 Futurist Alliance. Oppenheim will also be part of the “Futurist Spire Club Salon,” reports note, which is basically just a group of early Faraday Future buyers.
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In perhaps another attempt to drive drama and get attention for the company (and, by extension, the stock), Faraday Future also offered up some unsettling commentary. It noted that it has recently observed “suspicious activities” that, when taken together, are part of a “coordinated effort” to make the company and stock worth less than it should be. Faraday Future noted that it would take legal action should it find any evidence of market manipulation, illegal short selling, or misinformation in general.
Meanwhile, a look at the last five trading days for Faraday Future stock shows a definite surprise. FFIE stock has attempted to break out of the $4 range three times in the last five days, but this time was the one that stuck. There was a small spike on September 8, a larger one on September 12, and then, today, a run-up that gained Faraday Future over 30% in trading.
