On May 15th, as of press release, Faraday Future (FFIE. O, hereinafter referred to as "FF") rose 100% in the US stock market. It is worth noting that FF's stock price rose by 367% on the previous trading day, and even rose by 477% during the session, setting the highest increase since its listing.
Previously, on April 26th, FF announced that the company received a letter from NASDAQ on April 24th stating that due to the stock closing price being below $0.1 for ten consecutive trading days, which did not comply with NASDAQ listing rules, NASDAQ staff decided to delist FF's stock from the NASDAQ market.
However, delisting is not the final decision. FF stated at the time that the company planned to apply for a hearing before May 1st (the latest allowed date) to appeal the delisting decision, which would extend the trading suspension period for FF stocks by 15 days. It is reported that FF submitted an appeal to NASDAQ on May 1st to maintain its listing qualification through compliance rectification.
Jia Yueting released a video on May 7th stating that the company is facing a significant risk of delisting, and he will consider co serving with FF Global CEO Matthias as the company's co CEO. He will also start commercializing personal IP to make money and build cars.
However, embarrassingly, on the evening of May 7th, FF issued a statement stating that Jia Yueting had posted a video related to the company on social media as an individual rather than a company executive. The statement in the video was not approved by the company, and any such statement should not be considered as an act of the company. In addition, although the company has learned that the video indicates that Jia Yueting is considering the possibility of serving as the company's co CEO in the event of being appointed by the company's board of directors, and appreciates the services he provides, the company's board of directors is currently not considering appointing him as the co CEO.
Regarding the commercialization of personal IP, Jia Yueting released a video on May 10th to supplement his explanation, "What he wants to do is not simply live streaming sales, but to explore a new path in the era of IP e-commerce 2.0 through model innovation, AI technology innovation, IP e-commerce globalization, Chinese brands and products going global, and other dimensions on the basis of light operation."