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LOS ANGELES - Faraday Future Intelligent Electric Inc. (NASDAQ:FFAI), a $225 million market cap electric vehicle maker currently trading near its InvestingPro Fair Value, announced Tuesday that Founder and Global Co-CEO YT Jia and Global President Jerry Wang have made their first purchases of company stock under previously adopted Rule 10b5-1 trading plans.
According to the company’s statement, Jia purchased approximately $200,000 worth of FF common stock on Monday, while Wang acquired approximately $25,000 worth of shares. These transactions occurred following the required cooling-off period stipulated in their trading plans. The purchases come as the stock shows high volatility, having fallen 68% over the past year while surging 73% in the last six months, according to InvestingPro data.
Jia’s remaining purchases are scheduled over the next three weeks, while Wang’s next purchase is expected in approximately one month. The company noted that Jia plans to purchase a total of $560,000 worth of shares, representing the after-tax portion of his $1.2 million signing bonus received upon his appointment as Global Co-CEO. Wang intends to purchase a total of $50,000 worth of shares.
Additional share purchases are planned by other members of Faraday Future’s leadership team, including CFO Koti Meka and FX CEO Xiao (Max) Ma. Their 10b5-1 plans were initiated on June 13, with automatic stock purchases to be executed according to predetermined schedules.
"These purchases demonstrate my belief in FF’s long-term vision and our ability to deliver on key milestones that create value for our stockholders," Jia said in the press release. While analysts forecast significant revenue growth for the current year, InvestingPro analysis reveals the company faces challenges with cash burn and weak profit margins. InvestingPro subscribers have access to 20+ additional insights and detailed financial metrics for FFAI and 1,400+ other stocks through comprehensive Pro Research Reports.
Faraday Future, founded in 2014, describes itself as a California-based global shared intelligent electric mobility ecosystem company. Its flagship model is the FF 91, and the company recently launched what it calls an "EAI + Crypto Dual-Flywheel & Dual-Bridge Ecosystem Strategy."
In other recent news, Faraday Future Intelligent Electric Inc. reported a second-quarter 2025 adjusted operating loss of approximately $27.4 million, marking a slight improvement from the $50.6 million net loss from operations in the same period last year. The company’s total operating expenses decreased by 29% year-over-year to $21.3 million, while its cash position reached an 18-month high. Faraday Future has also filed an amendment to designate an additional 3 million shares of its Series B Preferred Stock, maintaining the same preferences, rights, and limitations. The company is seeking stockholder approval to increase its authorized common stock shares by 39%, aiming to support its $105 million financing and business strategy execution.
Additionally, Faraday Future has begun trial production of its FX Super One model at its Hanford, California facility. This phase focuses on verifying production processes and quality standards, with plans for comprehensive vehicle engineering and safety testing. The company is set to announce a major strategic upgrade at Pebble Beach during Monterey Car Week, following a five-day countdown campaign. Each day of the campaign highlighted different components of its upcoming strategy, including the FF Bridge Strategy.
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