Recently, well-known short-selling agency Wolfpack Research announced that it has set up a short position on electric vehicle manufacturer Faraday Future (FFAI) and said that the company may fall into a "penny stock" before being eventually delisted. Wolfpack Research’s short selling report stated,Faraday Future's latest round of stock price increases is based on "false orders, rebranded Chinese MPVs and a lot of lies" in order to induce retail investors to buy before their shares are diluted.
In response to this, Faraday Future founder Jia Yueting issued an article in response: "Wolfpack Research's report is based on outdated rumors, quotes out of context, subjective conjecture and blatant falsehoods."
"This is not only an attack on FF and myself, but also an attack on all FFAI shareholders and every FF employee who strives for their dreams."
"We are taking legal action and will never compromise to protect all shareholders and our vision. False rumors are destined to be vulnerable. Our vision and mission will always be indestructible. The truth and time will eventually prove the value of FF!"
In the capital market, Faraday Future’s share price has started to rise since mid-June this year.From a low of $1.4 in June to $3 in July, the stock price doubled in January.
Moreover, after the debut of the FX SuperOne, the first model of Faraday Future's FX brand, Faraday Future's stock price surged by more than 40% in one day on July 22, attracting industry attention.
According to official news from Faraday Future, FX Super One has completed 10,000 paid orders in the United States and has entered the trial production stage.
In addition, Faraday Future has successfully completed multiple financings, which are expected to meet the financial needs for the first batch of production delivery of FX Super One, and accelerate the development and delivery of FF and FX brand products and AI-related technologies.
