Faraday Future (FFIE) Stock Continues to Rise; How is it Dealing with the Meme Stock Slump?

This little-known penny stock seems like the next short squeeze.

 

 

Key Takeaways:

 

• As of right now, Faraday Future (FFIE) is leading the meme stock boom.
• The price per share of the electric vehicle startup has risen past $1.
• It is being traded short on 95% of its float.

 

It hasn’t been GameStop (NYSE:GME) or AMC Entertainment (NYSE:AMC) that has put up the most remarkable performance during this meme stocks rise. Rather, it comes from a little electric car startup that the majority of investors probably wrote off months ago.

 

Faraday Future Intelligent Electric (NASDAQ:FFIE) saw a decline in value over the previous six months, from more than $1.50 a share to 4 cents, until this week. However, the FFIE stock started to climb earlier this week when the Roaring Kitty rally sparked a fresh meme stock rush. Furthermore, it hasn’t decreased yet, in contrast to its meme stock counterparts.

 

With a 2,700% increase in value over the previous five trading days, FFIE stock is well positioned to continue climbing and has surpassed $1 per share today.

 

 

 

 

Read More: Gamestop Stock Price Prediction – Will GME Reach $1?

 

 

 

Could the Next Short Squeeze Be FFIE Stock?

 

For the first time since December 2023, Faraday Future has broken beyond the $1 threshold, continuing its steady ascent for three days in a row. At this point in Thursday’s trade, FFIE stock has risen 60%.

 

The stock meme rally that social media personality Keith Gill (aka Roaring Kitty) tweeted about appears to have died down, as previously mentioned. Today, AMC is down 15% and GameStop is down 24%.

 

William White, a contributor for InvestorPlace, raised a crucial issue on Tuesday: Is Faraday Future about to undergo a massive short squeeze? The current consensus appears to be a strong yes. More than 95% of the stock’s float is sold short, according to data from Fintel. The stage is now set for a short squeeze, which might drive share prices even higher.

 

 

 

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The Way Ahead

 

Even while things are looking well for Faraday Future at the moment, it doesn’t bode well for their long-term growth potential. “A small number of its FF 91 cars have been delivered by the company, which is trying to build and sell ultraluxury EVs,” noted Barron’s. “However, it is facing financial difficulties as it has not yet reached the necessary scale to be profitable.”

 

Still, FFIE stock is still on the rise, surpassing the gains of a lot other meme stocks—at least for the time being.

 

 

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How to Trade Crypto Futures on BTCC?

 

 

Now you can trade BTC on  BTCC. BTCC supports a diverse selection of cryptocurrencies for trading. This includes popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), and others. BTCC also offers products such as crypto, gold, and tokenized stocks to help investors rationally allocate their assets.

 

1. Register an Account

 

Join BTCC now and get up to 10,055 USDT when you deposit and trade. Click the button below to sign up now.

 

 

2. Deposit Funds

 

Once your account is set up, you’ll need to deposit funds into your BTCC account. BTCC may offer various deposit methods such as bank transfers, cryptocurrency deposits, or other payment options. Choose the method that works best for you and follow the instructions provided to deposit funds into your account. BTCC mainly offers USDT margin and future trading. Therefore, you need to buy USDT  before trading.

 

 

How to Buy Tether USDT Guide

 

 

 

 

3.How to trade BTC?

 

Here are the steps to trade BTC on BTCC

 

1) First, tap “Futures” on the website homepage

 

 

2) Select a product you would like to trade from the list here. BTCC currently offers daily and perpetual futures

 

 

 

3) Check time to settlement.  The settlement time of these futures type is different, you can check the time for settlement for each product here.

 

 

 

 

4) After choosing product, you can decide whther you would like to buy or sell it.  You only need to own USDT to trade USDT-margined futures.  That is to say you can sell BTCUSDT futures without owing any BTC Coin.

 

 

 

5) Then select your order type, and choose your leverage.

 

 

 

 

If you choose Limit or SL/TP order, you will need to enter your order price here.

 

 

 

Enter the quantity or choose the percentage under the quantity field.

 

 

 

 

You can also set up stop loss or take profit targets to limit losses or maximise earnings.

 

 

 

 

6)After everything is set up, Buy or  Sell to play your order. A confirmation window will show up,  check if all info is correct and click [Confirm] to open the position.