While technology players like Nvidia (NVDA) and Super Micro Computer (SMCI) have dominated the market this year, the business week ending May 17 belongs to electric vehicle manufacturer Faraday Future (FFIE). If you haven’t heard of the enterprise, you’re not alone. It’s also a sign that if you’re like most investors, you should steer clear of FFIE stock.
According to its public profile, Faraday is a “shared intelligent mobility ecosystem company.” In early 2021, the company made its public market debut via a reverse merger with a special purpose acquisition company (SPAC). I can probably just end the discussion right here considering how brilliantly these blank-check firms have performed post business combination.
