Shares of Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI) are trading higher this week after the company announced a series of developments that have renewed investor interest and lifted trading volumes across several sessions.
What To Know: One of the key catalysts driving the stock this week is a non-binding pre-order for 1,000 units of Faraday's upcoming FX Super One multi-purpose vehicle from Nature’s Miracle Holding. The deal, valued at up to $100 million, positions Faraday Future for a potential commercial breakthrough in the mass-market MPV segment.
The FX Super One, which will be produced at the company's California facility, is expected to begin deliveries in late 2025. Nature’s Miracle, through its subsidiary Hydroman Electric Corporation, plans to distribute the vehicles pending final financing arrangements. The two companies have also entered into a co-creation agreement to expand brand exposure.
Faraday Future also announced a strategic partnership with HabitTrade, a digital asset infrastructure platform, marking the company's first move into the Web3 financial ecosystem.
The collaboration aims to connect Faraday's intelligent mobility strategy with blockchain-based tools such as stablecoins, digital asset flows and decentralized finance infrastructure. According to company leadership, the partnership reflects Faraday's intent to create new shareholder value by aligning vehicle technology with emerging financial innovations.
In addition to product and strategy announcements, Faraday Future celebrated the fourth anniversary of its Nasdaq listing with a reaffirmation of its "Stockholders First" principle and renewed commitment to counter what it describes as illegal short selling activity. The company said on Wednesday that it recently identified new indications of market manipulation and issued legal notices to parties involved. It emphasized that defending shareholder interests remains a priority and pledged to pursue all appropriate legal remedies.
The news comes amid a resurgence in meme stock traders targeting names with high short interest. 25.68% of Faraday Future’s float is currently sold short, according to Benzinga Pro. The heavily shorted stock appears to have grabbed the attention of retail traders this week as it has been trending on various social platforms and continues to move on heavy volume.
More than 60 million shares have been traded so far on Thursday, well above the stock’s average session volume of approximately 13.12 million, according to Benzinga Pro.
FFAI Price Action: Faraday Future shares were up 10.4% at $3.02 at the time of writing Thursday, according to Benzinga Pro.
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Image: courtesy of Faraday Future.
