Short-selling institutions claim that Faraday's stock price is being boosted by false orders and the rebranding of Chinese MPVs. Jia Yueting responds.

Recently, the well-known short-selling institution Wolfpack Research announced that it has established a short position on the electric car manufacturer Faraday Future and stated that the company may fall to a "penny stock" before eventually delisting. Wolfpack Research's short report alleges that Faraday Future's latest round of stock price increases is based on "false orders, rebranding of Chinese MPVs, and a lot of lies," with the aim of enticing retail investors to buy before equity dilution. In response to this, Faraday Future's founder Jia Yueting posted a statement saying, "Wolfpack Research's report is based on outdated rumors, selective excerpts, subjective speculation, and blatant falsehoods." "This is not only an attack on FF and myself, but also an attack on all FF shareholders and every FF employee who is striving for their dreams." "We are taking legal action, we will never compromise, and we will defend all shareholders and our vision. False rumors are destined to fall apart. Foresight missions are forever unbreakable. The truth and time will ultimately prove the value of FF!" In the capital market, since mid-June of this year, Faraday Future's stock price has been on the rise, from a low point of $1.4 in June to $3 in July, achieving a doubling of the stock price in January. Furthermore, after the debut of Faraday Future's FX brand's first vehicle, the FX SuperOne, on July 22, the company's stock price surged over 40% in one day, attracting attention from the industry. According to official information from Faraday Future, the FX Super One has already received 10,000 paid orders in the U.S. and has entered the prototype stage. Additionally, Faraday Future has successfully completed multiple financing rounds and is expected to meet the funding requirements for the initial production and delivery of the FX Super One, as well as accelerate the development and delivery of FF and FX brand products and AI-related technologies.