Faraday Future (NASDAQ: FFIE) stock jumped during intraday trading Friday after Chief Product Officer YT Jia announced the resumption of electric vehicle deliveries.
YT Jia, the Chief Product Officer of Faraday Future, has just announced on YouTube that the company has resumed deliveries of its electric vehicles, marking a key achievement for the EV manufacturer. He disclosed the first delivery of an FF 91 — a luxury four-door crossover/SUV known for its ample cargo space, high ground clearance, and supercar-like performance — to a retail investor.
In his video announcement, Jia highlighted that this resumption of deliveries could signify a “turning point” for Faraday Future. He outlined three strategic goals for the company moving forward: securing strategic investments, increasing production capacity, and implementing its U.S.-China Bridge strategy to strengthen its position in the auto industry.
This news arrives concurrently with increased activity in Faraday Future stock, which mirrors the recent surge in GameStop shares. The excitement stems from the resurgence of interest in ‘meme stocks,’ as retail investors actively drive substantial market fluctuations. The stock of Faraday Future has been moving in tandem with GameStop, whose shares spiked after Keith Gill, known as “Roaring Kitty” on YouTube, scheduled a livestream at 12 p.m. ET this Friday.
Faraday Future (NASDAQ: FFIE) Stock Reaction
FFIE stock surged 12.24% on Friday, closing at $0.61, marking a 4.66% increase for the week. The trading volume was 419,767,904 shares, significantly higher than the average daily volume of 179.60 million.
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