Faraday's future global CEO:FF may have become the target of market manipulation and illegal short selling, and will continue to crack down on such activities.

Thank CTOnews.com netizens Rimi Ishihara for the delivery of the clue to happiness! CTOnews.com, December 15, the future Faraday has announced that it has completed the first phase of the identification and analysis of potential illegal transactions and is working with ShareIntel on the second phase to take further measures to reduce such activities.

FF announced in October that it had hired ShareIntel to help identify potential illegal short selling and other abusive trading activities.

So far, ShareIntel has identified reported imbalances in FF shares through professional analysis, which may have a significant impact on the public's FF holdings and average daily trading volume. These imbalances may be caused by non-compliance or illegal trading activities, indicating that some parties may sell large amounts of FF common shares but fail to deliver.

Matthias Aydt, global chief executive of FF, said: "based on the current analysis of ShareIntel, we are deeply concerned that FF may have become a target for market manipulation and illegal short selling. FF's board of directors and management attach great importance to the interests of shareholders, and we will take all necessary actions to prevent FF from becoming the target of market manipulation. We will continue to work with ShareIntel to combat potential manipulation and poor illegal short selling and trading activities to help ensure fair market conditions. "

It is worth mentioning that Faraday will generate revenue for the first time in the third quarter, raising a total of $61.8 million through convertible notes, equity credit lines (ELOC) and ATM financing (CTOnews.com Note: currently about 451 million yuan).

In addition to equity financing, FF successfully raised assets by selling and leasing back its manufacturing plant in Hanford, California. Through the deal, FF freed up up to $12 million in non-dilutive equity and was designated for significant improvements to the plant and basic development.