Ken Griffin's Faraday Bet Faces A Death Cross — With Mariah Carey Riding Shotgun

Ken Griffin's Faraday Future Intelligent Electric Inc (NASDAQ:FFAI) bet might soon take a technical turn for the worse — and Mariah Carey's not helping the chart hit the high notes. The EV startup that once raced ahead on celebrity glamour and billionaire backing is now staring down a Death Cross, a feared technical pattern that’s widely held to be a sign of fading momentum.

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When Billionaires Meet Pop Icons

In the second quarter, Griffin's Citadel Advisors made a surprise move — buying 763,000 shares of FFAI stock at an average of $1.44, a staggering 4,600% increase in holdings. At the time, the stock looked electric: Faraday had unveiled its mass-market FX Super One, secured 10,000 pre-orders, raised $105 million, and even found itself added to the Russell 3000 Index.

Then came the ultimate marketing crescendo — Mariah Carey, the pop diva herself, was spotted driving the company's FF 91 2.0 Futurist Alliance, a move that turbocharged retail interest and headlines alike.

• Read Also: EXCLUSIVE: Faraday Future Wants A Tesla-Style Breakout—And Mariah Carey’s Already Driving

FFAI Chart's Gone Flat

Chart created using Benzinga Pro

But the music is fading. FFAI has since slid to $1.24, about 14% below Griffin's buy level, and its chart is about to sing a different tune. The 50-day moving average ($1.61) is slipping below the 200-day ($1.57) — known as the Death Cross, signaling weakening momentum.

The MACD (moving average convergence/divergence) (-0.08) and RSI (relative strength index) (37.22) show traders exiting stage left, as enthusiasm for speculative EVs cools.

The Contrarian Encore

Still, Griffin's not known for playing the obvious notes. Faraday's August "Dual-Flywheel" strategy and fresh backing from Vanguard and BlackRock suggest there's more story to come. If the billionaire was betting on long-term disruption, not short-term shine, a technical dip could be the setup he wanted.

For now, though, it's a pop-perfect irony: Mariah Carey's behind the wheel, Ken Griffin's in the trade — and Faraday's chart is about to hit a Death Cross.

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