What's Going On With Faraday Future Stock Today?

Zinger Key Points
  • Faraday Future will host a conference call to discuss its fourth-quarter and full-year 2023 results on May 28 at 8:00 p.m. ET.
  • Analysts expect the company to report quarterly losses of $3.51 per share and revenue of $2.039 million. 
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Faraday Future Intelligent Electric Inc. FFIE shares are trading higher Monday as the retail-fueled rally in heavily-shorted stocks returns.

What To Know:

Faraday Future's stock ran up more than 8000% last week and reached an intraday high of $3.90 Friday before reversing to close in the red for the session.  

Retail traders appear to be back in the Faraday Future trade Monday with more than 350 million shares already traded in the session. According to data from Benzinga Pro, 85.71% of Faraday Future shares are being sold short. 

Faraday Future announced it will host a conference call to discuss its fourth-quarter and full-year 2023 results after market close on Tuesday, May 28 at 8:00 p.m. ET.  According to estimates from Benzinga Pro, analysts expect the company to report quarterly losses of $3.51 per share and revenue of $2.039 million. 

Despite the recent stock performance, the company is facing financial challenges. Faraday Future received a delisting notice from Nasdaq on April 24 after its share prices remained below 10 cents for ten consecutive days.

Related News: What’s Going On With Tupperware’s Stock?

Should I Sell My FFIE Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Faraday Future have decreased by 96.82% in the past year. An investor who bought shares of Faraday Future at the beginning of the year would make a profit of $1.11 per share if they sold it today. The stock has risen 2990.09% over the past month, meaning an investor who bought shares on April 1 would see a capital gain of $1.62.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Faraday Future stock currently has an RSI of 67.53, indicating neutral conditions.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.

FFIE Price Action: According to Benzinga Pro, Faraday Future shares are up 75% at $1.80 at the time of publication Monday.

Image: Courtesy of Faraday Future Intelligent Energy, Inc.

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