What's Going On With Faraday Future's Stock Friday?
Portfolio Pulse from Erica Kollmann
Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares experienced significant volatility on Friday, initially rising but then closing down 37.58% at $1.03. The stock has been part of a retail-fueled meme stock rally, with trading volume reaching over 1.2 billion shares, far exceeding its 100-day average. 85.71% of FFIE shares are being sold short.
May 17, 2024 | 8:07 pm
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Faraday Future shares closed down 37.58% at $1.03 on Friday after experiencing significant volatility. The stock is part of a retail-fueled meme stock rally, with trading volume reaching over 1.2 billion shares, far exceeding its 100-day average. 85.71% of FFIE shares are being sold short.
The significant drop in FFIE's stock price, combined with extremely high trading volume and a high percentage of shares being sold short, suggests a bearish outlook in the short term. The stock's involvement in a meme stock rally adds to its volatility and risk.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100