Why Faraday Future Stock Popped Nearly 20% Today
The stock of electrical-vehicle (EV) start-up Faraday Future Intelligent Electric (NASDAQ: FFIE) has been on a wild ride this week. An explosive move in the shares occurred recently, driving them up 150% in just a week.
Even after a double-digit drop yesterday, shares are still up more than 120% in just the past five days. Today, after spiking as much as 41%, Faraday stock was 17% higher as of 3:38 p.m. ET.
The company itself hasn't provided any updates in the last week, so the stock's move has come from other drivers. Faraday has had very high short interest, which is what has helped push several stocks higher from retail investors banding together online trying to force short-sellers to cover their shares.
Source Fool.com