Short-selling institutions claim that Faraday's stock price is boosted by fake orders and rebranding of Chinese MPVs, to which Jia Yueting responds

Recently, the well-known short-selling institution Wolfpack Research announced that it has set a short position against the electric vehicle manufacturer Faraday Future, stating that the company may fall to "penny stock" status before ultimately delisting. Wolfpack Research's short report claims that the latest surge in Faraday Future's stock price is based on "false orders, rebranded Chinese MPVs, and a multitude of lies," aimed at enticing retail investors to buy before equity dilution. In response, Faraday Future founder Jia Yueting stated, "The report from Wolfpack Research is based on outdated rumors, cherry-picked information, subjective speculation, and blatant falsehoods." "This is not only an attack on FF and myself but also an attack on all FF AI shareholders and every FF employee who is striving for their dreams." "We are taking legal action and will not compromise, defending all shareholders and our vision. False rumors are destined to be easily defeated. Our visionary mission will always be unbreakable. The truth and time will ultimately prove FF's value!" In the capital market, since mid-June of this year, Faraday Future's stock price has entered an upward channel, rising from a low of $1.40 in June to $3 in July, with the stock price doubling in January. Moreover, after the debut of Faraday Future's FX brand's first model, the FX SuperOne, on July 22, the stock price surged over 40% in one day, attracting industry attention. According to official news from Faraday Future, the FX Super One has completed 10,000 paid orders in the United States and has entered the trial production stage. Additionally, Faraday Future has successfully completed multiple financing rounds, which are expected to meet the funding needs for the first batch of FX Super One production and accelerate the development and delivery of FF and FX brand products and AI-related technologies