see below
More ... latest change: 2026-02-08
Wolfpack Research published on Faraday Future (NASDAQ: FFAI — $253 million), an early-stage electric car company. Wolfpack alleged the company “based its latest pump on fake orders, a rebadged Chinese minivan, and a tsunami of lies meant to induce retail to buy right before a massive flood of new shares are authorized.” Wolfpack highlighted the company’s “track record of abysmal failure ($4.4b spent with 17 cars delivered)” and alleged its claims of 10,000+ preorders for its minivan lack economic substance. For example, Wolfpack highlighted that Faraday disclosed 1,000 preorders from a microcap company that has “less than $10,000 in cash” and that other orders are from “paid co-creation partners.”
In response to Wolfpack’s report, Faraday Future said it “will promptly initiate the necessary internal procedures to file a lawsuit against Wolfpack Research and make a formal submission to the U.S. Securities and Exchange Commission (SEC).” The company also referenced its “Anti-Illegal Short-Selling Counterattack” and wrote, in part,
“The company has recently observed unusual volatility in its stock price and the company intends to investigate whether malicious actors are engaged in improper manipulation of the stock including through naked short selling or other stock manipulation schemes.”