Faraday Future announced that it has completed the first phase analysis of identifying potential illegal trading activity, and is taking additional steps to help mitigate such activity with ShareIntel-Shareholder Intelligence Services into a second phase of work. As announced in October of this year, FF engaged ShareIntel to help identify potential illegal short selling and other abusive trading activities. To date, ShareIntel’s DRIL-Down analysis has identified reporting imbalances in FF’s shares that may be material to FF’s public float and average daily trading volume. These imbalances may be a byproduct of non-compliant or illegal trading activities and may indicate that certain traders have sold but failed to deliver a significant number of shares of FF’s common stock.
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