The stock price has been suspended twice! FF Auto rose 39 times in 5 days, breaking the red line of $1 delisting

Southern Metropolis Daily

2024-05-17 09:54Posted on the official account of Guangdong Southern Metropolis Daily

On May 16, local time, the share price of Faraday Future, a high-end electric vehicle company founded by Jia Yueting in the United States, continued to rise and has risen for five consecutive days.

On May 16, local time, FF Auto once rose by more than 200% intraday, and was suspended twice at 9:59 and 13:22 on the same day due to abnormal fluctuations in the rise and fall, and the suspension lasted for five minutes each.

As of the close of the day, FF Auto broke through the red line of $1 delisting and closed at $1.65 per share, with a total market value of $70.41 million, up 134%. Since May 10, it has increased by 3924.39%. The reporter of Nandu Bay Finance Society also noticed that the vitality of FF cars after the market has not decreased, rising by more than 18%, and it is only one step away from the $2 level.

Previously, in August 2023, FF Auto had announced a reverse share split, intending to increase the value of each share through a merger to meet the listing requirements. After the merger, the stock price of FF Auto reached $22 per share on August 17 of that year. But since the beginning of September, the company's share price has fallen by about 96%, and by early November, it has fallen back to the "penny stock" level.

Now, FF Auto has washed out the "penny stocks" through free trading in the market, which may also prove that the stock has regained the confidence and recognition of the capital market. Jia Yueting attributed this to the fact that "the role of FF 'Sino-US automobile bridge' is highlighted" in the context of the United States raising tariffs on China's imported electric vehicles.

According to FF Auto's official data, FF Auto delivered a total of 10 FF 91 2.0 Futurist Alliance units in 2023. On February 7 this year, FF Motors once again announced the delivery of one FF 91 2.0 Futurist Alliance, so far, Jia Yueting has been building cars for nearly 10 years and has delivered a total of 11 vehicles, one of which is owned by himself.

Written by: Chen Jing'an, reporter of Nandu Bay Finance Agency

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