Faraday Future (FFIE) Stock Adds Another 100% in Giant Short Squeeze Rally
FFIEFaraday Future(FFIE) InvestorPlace·2024-05-15 21:43

Faraday Future (NASDAQ:FFIE), a struggling electric vehicle (EV) maker, has joined the meme stock parade. It doesn’t have the money to make cars, but with 95% of the stock being held short, it’s a perfect candidate for a short squeeze. That’s what meme stock trades are all about. Small traders sent shares up 367% on May 14 to squeeze out Faraday shorts. The stock doubled again overnight. Just don’t get too excited about the underlying business. At its opening price this morning of 54 cents, it’s still worth ...