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Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares are trading lower Wednesday on continued downward momentum. Here's a look at what's going on.
What To Know:
Last week, Faraday Future’s stock saw massive price moves related to the retail-fueled meme stock rally which saw heavily-shorted stocks gaining alongside GameStop and AMC Entertainment shares. The stock was up more than 8000% at one point, before reversing Friday.
Faraday Future shares fell more than 20% Tuesday and continue to move lower as the retail rally appears to have lost steam. The company faces financial challenges and received a delisting notice from Nasdaq on April 24 after its share prices remained below 10 cents for ten consecutive days.
The stock has outsized short-interest with 85.71% of available shares being sold short, according to the latest data from Benzinga Pro. High short-interest can contribute to price volatility, especially when combined with heavy trading volume.
Faraday Future will host a conference call to discuss its fourth-quarter and full-year 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.
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Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
Shares of Faraday Future have lost 97.89% year to date. This compares to the average annual return of -91.97%, meaning the stock has underperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.
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 65.14, indicating neutral conditions.
For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.
FFIE Price Action: According to Benzinga Pro, Faraday Future Intelligent Electric shares are down 20% at $1.11 at the time of publication Wednesday.
Image: Courtesy of Faraday Future Intelligent Electric, Inc.
Posted In: FFIE
