What's Going On With Faraday Future Stock?

Faraday Future Intelligent Electric Inc. FFIE shares are racing higher Thursday and have been halted multiple times for volatility. Here's a look at what's going on.

What To Know:

Faraday Future shares are trending across social media, Stocktwits and Yahoo Finance, as investors pile into the stock despite a lack of company-specific news. 

The stock began trading on a split-adjusted basis Monday following a 1-for-40 reverse stock split, which may be contributing to the volatility. According to data from Benzinga Pro, investors traded more than 99 million shares in Thursday's session.

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On Monday, the company also announced a launch event for its China-U.S. Automotive Bridge Strategy. Faraday Future will host the event on September 19 and said it will provide an execution plan for the strategy and introduce more details about its second automotive brand.

Faraday Future Global CEO Matthias Aydt said, "Our Bridge Strategy could introduce a ‘performance capable EV at a fraction of the price,’ by empowering a second brand with much of the core technologies used on the $300,000 FF 91," and added, "A mass-market second brand could make the ‘AI car of the future' the AI car of the people."

How To Buy FFIE Stock:

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Faraday Future FFIE's case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

FFIE Price Action: According to Benzinga Pro, Faraday Future Intelligent Electric shares are up 101.1% at $7.22 at the time of publication Thursday.

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Image: Courtesy of Faraday Future Intelligent Electric, Inc.