Faraday Future Intelligent Electric Inc. (NASDAQ: FFIE) is a California-based company looking to act as a pioneer in the EV smart ecosystems space, with an ambitious path ahead of it.
FFIE Sees Price Balloon By Heavy Magnitude
Faraday Future Intelligent Electric Inc. (FFIE) has been seeing a phenomenal price consolidation since the start of the year, at which point its price stood at $0.27. Pushing on the company closed at $1.08 since last Friday, and has continued a momentous rise through the weekend and into the pre-market hours. FFIE is presently trading at the $1.42 mark, which shows its strength in the market, with the growing number of bulls taking a liking to it. To put this rise into context, the company’s market capitalization in only two months has ballooned from $185 million to almost $1 billion, opening up completely new opportunities for financing for it, with this growing share price. As trade begins during the day, more bulls may enter the action, taking FFIE to all new levels.
Faraday Future Wins Big on the Financing Side
The rapid share price appreciation for Faraday Future undoubtedly opens up tremendous opportunities for the company, giving its management some serious flexibility to play with moving forward. The advantages on the financial front alone boost the FFIE’s prospects, making it possible for it to fund future endeavors. In fact, just recently, Faraday Future entered into a string of several financing agreements, including $135 million in convertible secured notes. The management will also host a shareholder’s conference at the end of February to vote on a share issuance for further financing.
FFIE stock finds itself at the center of market attention with its remarkable, bullish take-off. This opens up tremendous opportunities for the company on the financial front, putting it on the road toward growth and sustainability.