Faraday Future (NASDAQ:FFIE) stock is rising higher on Tuesday as investors wonder whether a massive short squeeze is coming for the electric vehicle (EV) company’s shares.
Investors will note that FFIE’s short interest is sitting at 36.34 million shares. That represents 95.33% of the company’s float. This makes it a prime target for a short squeeze.
One reason the rise could be happening is the recent meme stock rally. This has several shares that were short squeezed in 2021 taking off recently. This is thanks to the return of Roaring Kitty, who started the prior meme rally in 2021. FFIE may be a new target that could get caught up in all of the action.
Faraday Future has also had a rough time of it lately, which has been weighing shares. This has sparked the short interest in the stock and could also be what draws meme traders to FFIE. Pushing out shorts became a concentrated effort for these types of traders back in 2021.
FFIE Stock Movement Today
With all of this interest in FFIE stock comes heavy trading of the company’s shares. This has more than 445 million shares of the stock changing hands as of this writing. That’s a massive surge in trading volume compared to its daily average of about 41 million shares.
FFIE stock is up 155.8% as of Tuesday morning. The stock is still down 74% year-to-date (YTD) despite this rally.
Investors looking for more of the most recent stock market stories will want to stick around!
We have all of the hottest stock market news worth reading about on Tuesday! Among that is what has shares of Virgin Galactic (NYSE:SPCE), MicroCloud Hologram (NASDAQ:HOLO) and BlackBerry (NYSE:BB) stock in the news today. All of that info is ready to go at the links below!
More Stock Market News for Tuesday
- Why Is Virgin Galactic (SPCE) Stock Up 19% Today?
- Why Is MicroCloud Hologram (HOLO) Stock Up 59% Today?
- BB Stock Surges 16% as BlackBerry Joins the Roaring Kitty Rally
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
