Why Fararaday Future Stock Jumped 50% Today
FFIEFaraday Future(FFIE) The Motley Fool·2024-06-28 04:29

Could another deal in the EV industry be a positive sign for Faraday's future?Shares of electric vehicle (EV) company Faraday Future Intelligent Electric (FFIE 30.86%) jumped as much as 50% in trading on Tuesday as investors became more bullish on the company's turnaround plan. The volatile stock lost nearly all of its gains mid-day but closed the day up 30.9%.Signs of life in EVsEarlier this week, Rivian signed a deal with Volkswagen that would provide electronic architecture to the larger automaker throug ...