The wild changes for Faraday Future Intelligent Electric (NASDAQ:FFIE) continued on Monday, with shares notching an 85% gain in the first twenty minutes of trading. Once again, there was no fundamental news to explain the high volume move. Future of Faraday (FFIE) is scheduled to release its final fourth-quarter earnings report on May 28, after the market closes. The company has not yet published its annual report.
The latest data from S3 Partners puts FFIE's outstanding short interest at 98%, which is the main reason for traders' sudden interest in trading the stock. The 52-week range for electric vehicle stocks is $0.04 to $117.36. At last check, FFIE was trading at $1.88 per share.
In particular, Google search trends have spiked for the keywords “Faraday Future” and “$FFIE” over the past week, which is an indication that the short squeeze rally is attracting some interest at the retail level. .
