Written by Cláudio Afonso | LinkedIn | X
Faraday Future shares soared 50% on the first trading day of 2025 as the California startup prepares to reveal more details of its cheaper sub-brand Faraday X—or FX— next week.
The stock closed 51.8% higher on Thursday at $3.69 recovering part of the losses registered on the last day of 2024.
The EV startup announced late Thursday that it will release a video on January 8, providing “product details, timing, and segment information,” following the official launch last September.
When it unveiled the brand, Faraday Future said its new brand will deliver “twice the performance at half the price.”
The prototype mules arrived in the U.S. last week and started product development and testing in the U.S. The prototype vehicles are scheduled to stop in Las Vegas (where the CES will be held) from January 5-7, according to the EV maker.
As of Thursday, Faraday’s market cap value stands at approximately $167 million. The company reported a loss from operations of $25.2 million in Q3, down from the $66.4 million loss reported in the same period in 2023.
As of September 30, Faraday Future held $449 million in assets and $292.3 million in liabilities, resulting in a book value of $156.7 million.
had a tumultuous 2024, marked by dramatic stock surges (quickly followed by sharp declines) and two reverse stock splits to guarantee Nasdaq’s listing requirement.
In the third quarter of the year, the company reported nine thousand dollars in revenue as no vehicles were delivered, down from $551,000 recorded in the same period a year earlier.
The EV startup saw its shares climbing over 4,500% in just four trading sessions last May from $1.68 to $156. However, the gains were quickly erased, with the stock losing most of those gains over the subsequent 40 trading days.
Written by Cláudio Afonso | LinkedIn | X
