Faraday Future Stock Rises After Full Proceeds From $30M Financing Arrive: Retail Gets Recharged

The California-based electric mobility company said the capital infusion will help support ongoing deliveries of its FF 91 2.0 electric luxury SUV this year.

Faraday Future Stock Rises After Full Proceeds From $30M Financing Arrive: Retail Gets Recharged

Faraday Future Intelligent Electric (FFIE) shares rose nearly 2% Wednesday afternoon, poised to snap a two-day losing streak, after the EV maker confirmed it had received the full net proceeds from a $30 million financing announced in December.

The California-based electric mobility company had said the capital infusion will help support ongoing deliveries of its FF 91 2.0 electric luxury SUV this year. 

Shares surged more than 22% in premarket trading Wednesday following the announcement.

FFIE sentiment and message volume Jan 29.png FFIE sentiment and message volume Jan 29 as of 2.20 pm ET | source: Stocktwits

Retail sentiment on Stocktwits turned ‘bullish’ from ‘bearish’ as message volume spiked. 

Investors cheered the completed funding, with one user noting that this was “pretty big for this company.” 

Another post made an ultra-bullish prediction, suggesting the stock could hit $72 in six months — a 52x surge.

Despite the optimism, Faraday Future’s financial struggles remain a concern. 

Short interest in FFIE stands at 38.2%, the highest among all auto stocks. 

The company reported just $7.3 million in cash at the end of the last quarter, with total debt of $116.5 million, according to Koyfin data. 

Deliveries of its high-end FF91 EVs have been minimal, and no major analysts currently cover the stock, per Bloomberg.

Faraday Future has gained a reputation as a “classic” meme stock, especially after a sharp rally in 2024 coincided with Keith Gill’s (Roaring Kitty) return to social media. 

Over the past 12 months, the stock’s retail following on Stocktwits has surged 133%, while message volume has jumped over 120%, even as its share price has plummeted 92%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<

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