Faraday Future Intelligent Electric Inc. $FFAI
Wolfpack Research • Published September 11, 2025 • This House of Cards Is Falling Apart
CORE INVESTMENT THESIS
FFAI is a house of cards built on a foundation of lies from founder and Co-CEO Jia Yueting.
After returning as CEO in April 2025, YT inflated the stock price by announcing a new EV minivan with 10,000+ preorders. However, our research shows this is nearly all fake news: the "new" car is a Chinese vehicle with FFAI's logo swapped in, all preorders are non-binding, and 1,000 came from a penny-stock with less than $10,000 in cash owned by YT's classmate. We are short FFAI.
COMPANY OVERVIEW
KEY FINANCIAL METRICS
After burning $4.4 billion in funding
10,000+ claimed preorders with no commitment
Nature's Miracle's cash for $100M "deal"
Warning of enforcement action issued
KEY PLAYERS
Jia Yueting (YT) - Co-CEO
Background: Fled China in 2017 to escape creditors and regulators
Red Flags: Banned for life from Chinese security markets, fined $37M for fraud
Current Issues: SEC Wells Notice recipient, allegedly committed bankruptcy fraud by hiding Lucid stock worth $1.2B
Tie (James) Li - Nature's Miracle CEO
Connection: YT's business school classmate (Cheung Kong Graduate School 2011)
Company Status: ~$2M market cap, <$10K cash
Deal: Non-binding preorder for 1,000 vehicles worth "up to $100M"
Ruokun (RK) Jia - YT's Nephew
Role: Former Assistant Treasurer, terminated for conduct during internal investigation
Activities: Provided funding through entities he controlled to FFAI employees
Status: Part of YT's "mafia" of trusted associates
Wolfpack Research's Verdict
According to Wolfpack Research, Faraday Future ($FFAI) is a house of cards built on a foundation of lies from founder Jia Yueting. The company's latest "pump" is built on fake orders from YT's business school classmate, a rebranded Chinese vehicle, and a tsunami of misleading claims. Wolfpack Research concludes this may be YT's last pump before facing serious legal consequences from the SEC and DOJ.