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On the morning of July 22nd, Faraday Future officially listed on the NASDAQ Stock Exchange and held a bell-ringing ceremony to begin official public trading under the stock symbol "FFIE." FFIE's offering price was $13.78 and barely closed 1.45% higher on the first day, closing at $13.98, with a total market capitalization of $4.535 billion. However, FF's share price has nearly halved less than three months after its listing. As of Oct. 8, FF shares fell 4.17% to $8.05, down 41.58% from their offering price of $13.78, halving from a high of $17 a share on the first day of trading.

On October 7, US time, the US short seller J Capital Research released a 28-page short selling report on FF. The report expressed its doubts about FF from the perspectives of FF's production capacity, capital operation performance, R & D investment and Jia Yueting's own punishment in China. The sources included field research visits, company financial report data and public information. Questioned FFIE's car-building ability from all aspects, and listed a series of 10 items, including misappropriation of public funds, factory delays, false orders and so on, and said bluntly that "I don't think FF can sell a car."

On the short-selling report, Jia Yueting, founder of FF, said on moments that the short-selling agency's remarks were hot speculation and nonsense, and that it was not the first time that J Capital Research had been hit in the face. In addition, according to Faraday's future response to the media, the short selling report is "full of misleading information, illogical and unfounded". Faraday also said in the future that he was disappointed and condemned the irresponsible actions of the agency, and would reserve the right of legal prosecution for such false allegations.

However, Jia Yueting and Faraday's future response failed to allay market concerns. FF shares fell 4.17% to $8.05 the day after the short selling report was released, down 41.58% from the offering price of $13.78. Its share price has halved from a high of $17 per share on the first day of trading.

In January 2017, Faraday officially launched its first electric car, the FF 91, after which the company announced the completion of a $1 billion round of financing, with Jia Yueting, founder of Leeco, as global CEO and chief product officer. However, due to the report of Jia Yueting's personal debt crisis, FF got into financial difficulties and the car-building project continued to shut down. In 2019, Jia Yueting announced personal bankruptcy reorganization, transferred his personal assets to creditors through creditor trust, became a shareholder of FF, and gave up his CEO position and was taken over by Bi Fukang.

On July 22nd, FF officially announced its listing. On the day of listing, Jia Yueting said, "the listing of FF is a new starting point, solving the biggest funding problem, and then go all out to achieve 12-month mass production." With regard to the debt problem that the public is most concerned about, Jia Yueting responded, "I will solve it completely." As to whether he would return to China, Jia Yueting gave an accurate answer: "that's a must!"

In September this year, on FF's "919th Futurist Day", FF Global CEO Bifukang announced the progress of mass production delivery of FF 91: "We are confident that we will deliver FF 91Futurist with high quality and high product strength on time within 12 months after launch." In other words, the FF 91 will be delivered by July 2022 at the latest, and it took five years for Jia Yueting to release the FF 91 to deliver the product.

Earlier, Faraday's future official showed that FF 91 had begun to accept reservations with a deposit of 50, 000 yuan. Before signing the vehicle sales contract, the user can cancel the reservation at any time and the deposit will be fully refunded. The Futurist Alliance version of FF91, which is limited to 300 units worldwide, has been sold out, according to Faraday Future's website. Perhaps, the listing of FF can bring more opportunities to Jia Yueting, and the mass production delivery of FF 91 and Jia Yueting's debt problems may be solved. However, the halving of FF's share price reflects that the capital market does not have much recognition for it, and for FF, the most direct way to break market concerns may be to achieve delivery as soon as possible.

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