Jia Yueting is doing it again? Faraday Future's stock price soared, rising by more than 1600% in four days
Mobile China
2024-05-16 08:36Published in Beijing
Recently, Jia Yueting released a video saying that he will work closely with the company's management team to take all possible measures to ensure that the company can maintain a compliant listing status. At the same time, Jia Yueting also announced that it will start the commercial operation of his personal IP, hoping to raise funds through this route, part of which will be used to repay debts, and the other part will be used to support the company's operations and automobile manufacturing business. After this announcement, Faraday Future's stock price rose rapidly. According to the latest data, Faraday Future's stock price has risen by as much as 1619% in four trading days, closing at $0.7050, an astonishing 147.37%.
A few days ago, Jia Yueting released a video reviewing the development process of FF. He mentioned that since FF successfully landed on the NASDAQ in 2021, the company has encountered a series of challenges, although its market capitalization was once as high as more than $4 billion. In particular, SPAC directors used short-selling reports and other excuses to set up a special committee, which almost completely controlled the company, resulting in a large consumption of nearly $1 billion in IPO financing, and the mass production plan of FF 91 was also greatly delayed.
Looking back at the development of FF, since Jia Yueting founded FF in 2014, deliveries of the company's first production car, the FF 91, have been limited. Although FF delivered 10 FF 91 2.0 Futurist Alliance units in 2023, including one personally owned by Jia Yueting, overall deliveries are still low.
In addition, in mid-March of this year, FF filed a recall plan with the U.S. Highway Traffic Safety Administration, announcing the recall of 11 FF 91 2.0 units manufactured in 2023. The reason for this is that when the airbag control unit detects a system failure, a software error may prevent the airbag failure warning light from illuminating.
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Jia Yueting is doing it again? Faraday Future's stock price soared, rising by more than 1600% in four days
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