How to view the latest short interest data of FFIE? Could there be a second wave of short squeeze?

On-exchange Short Selling VS Dark Pool Short Selling

There are two venues for short selling: on-exchange and off-exchange (dark pool). On-exchange short selling refers to investors shorting through the NYSE and NASDAQ, where the short interest is publicly transparent (though updates may be delayed).

It's worth noting that whether it's on-exchange or off-exchange short selling data, "what you see is what they want you to see":

For on-exchange trading, as of May 15, the short interest was 12 million shares, seemingly a sharp drop in short positions, likely due to short covering after the first wave of price surges. This could panic naive investors expecting a short squeeze, but in reality, we don't know the latest on-exchange short positions.
Off-exchange/dark pool trading occurs through other systems, but institutions use various methods to hide true data when reporting short selling activities, resulting in low transparency. However, we can only rely on this data for analysis. For example, PortAI updated FINRA's short selling data after May 16, estimating that shorts accumulated significant positions at the $2-$3 levels during the volatile days of the 16th, 17th, and 20th:

The data aligns with Fintel's findings:

A Short Interest Prediction

Seen on a platform, for reference only: Software Ortex predicts a short interest of 20.09 million shares as of May 24, accounting for 52.73% of the total shares.

What’s Next? Will There Be a Second Short Squeeze?

The May 15 data suggests the first short squeeze has ended (with institutions covering their shorts). Now, the question is whether FFIE will experience a second squeeze like GME did in late February 2021.

First, the short borrowing rate has even increased recently, indicating shorts haven’t exited, leaving room for another squeeze. (Recall: Before GME’s second squeeze in February 2021, on-exchange short interest plummeted from 6.1 million shares to 1 million, sparking panic.)
Second, a catalyst is needed. For GME, it was the announcement of its CFO resigning to "accelerate GameStop’s transformation." GME had a narrative, and FFIE isn’t short on stories—rational minds may doubt, but the market trades on narratives.
Most importantly, while trading volume and turnover have dropped, forum activity remains high, and no other stock has gathered such momentum.

Insights from Options

Options distribution is shown below, with no significant open interest or volume for other expirations:

May 31 expirations are likely betting on earnings surprises;
June 21 expirations are likely betting on a squeeze before the delisting decision on June 25.

Could there be a Gamma Squeeze? Market makers may not need to hedge much for May 31, but June 21 could force them to buy shares, potentially triggering a Gamma Squeeze if the stock rises (similar to NVIDIA’s current scenario).

A Crisis

$Faraday Future Intelligent Electric(FFIE.US)’s current low price and small market cap make it unattractive for new shorts, limiting squeeze potential. At $1, shorting offers little profit, leading to a stalemate—a dangerous spot.

But crisis breeds opportunity. GME rose from penny stock status. The key lies in new catalysts, like FFIE’s earnings call or responses to Longbridge community members. As one comment noted: "A squeeze happens in waves, drawing bigger players to fuel it. FFIE needs to climb to $3+ for shorts to borrow more shares—only then can a larger squeeze unfold."