LOS ANGELES--(BUSINESS WIRE)--Dec 19, 2024-- Faraday Future Intelligent Electric Inc. (Nasdaq: FFIE) (“FF”, “Faraday Future”, or the “Company”), a California-based global shared intelligent electric mobility ecosystem company, today announced that its first Faraday X (FX) prototype mules will arrive in Los Angeles at the end of this month. The first two FX mules will begin their product development and testing in the U.S. shortly thereafter at FF’s manufacturing facility in Hanford, CA, with a stop in Las Vegas, NV from January 5-7, which coincides with the Consumer Electronics Show (CES). While in Las Vegas, the Company will provide updates on the progress of the FX strategy. The first prototype mules’ delivery and shipping route has taken them from FF’s Headquarters in Beijing to Los Angeles. The FX brand is accelerating its efforts to deliver "twice the performance at half the price" AIEV products to U.S. consumers and is advancing toward the goal of delivering performance and technology capable EV’s at an affordable price point. Faraday Future is the pioneer of the Ultimate AI TechLuxury ultra spire market in the intelligent EV era, and the disruptor of the traditional ultra-luxury car civilization epitomized by Ferrari and Maybach. FF is not just an EV Company, but also a software-driven intelligent internet Company. Ultimately FF aims to become a User Company by offering a shared intelligent mobility ecosystem. FF remains dedicated to advancing electric vehicle technology to meet the evolving needs and preferences of users worldwide, driven by a pursuit of intelligent and AI-driven mobility. This press release includes “forward looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements, which include statements regarding FX and the timing for public display of prototype mules, product development and testing, and accelerating development efforts, are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include, among others: potential unforeseen delays regarding the customs clearing process for the prototype mules; the Company’s ability to secure the necessary funding to execute on the FX strategy, which will be substantial; the Company’s ability to secure additional agreements with OEMs that are necessary to execute on the FX strategy; the Company’s ability to continue as a going concern and improve its liquidity and financial position; the Company’s ability to pay its outstanding obligations; the Company's ability to remediate its material weaknesses in internal control over financial reporting and the risks related to the restatement of previously issued consolidated financial statements; the Company’s limited operating history and the significant barriers to growth it faces; the Company’s history of losses and expectation of continued losses; the success of the Company’s payroll expense reduction plan; the Company’s ability to execute on its plans to develop and market its vehicles and the timing of these development programs; the Company’s estimates of the size of the markets for its vehicles and cost to bring those vehicles to market; the rate and degree of market acceptance of the Company’s vehicles; the Company’s ability to cover future warranty claims; the success of other competing manufacturers; the performance and security of the Company’s vehicles; current and potential litigation involving the Company; the Company’s ability to receive funds from, satisfy the conditions precedent of and close on the various financings described elsewhere by the Company; the result of future financing efforts, the failure of any of which could result in the Company seeking protection under the Bankruptcy Code; the Company’s indebtedness; the Company’s ability to cover future warranty claims; the Company’s ability to use its “at-the-market” program; insurance coverage; general economic and market conditions impacting demand for the Company’s products; potential negative impacts of a reverse stock split; potential cost, headcount and salary reduction actions may not be sufficient or may not achieve their expected results; circumstances outside of the Company's control, such as natural disasters, climate change, health epidemics and pandemics, terrorist attacks, and civil unrest; risks related to the Company's operations in China; the success of the Company's remedial measures taken in response to the Special Committee findings; the Company’s dependence on its suppliers and contract manufacturer; the Company's ability to develop and protect its technologies; the Company's ability to protect against cybersecurity risks; and the ability of the Company to attract and retain employees, any adverse developments in existing legal proceedings or the initiation of new legal proceedings, and volatility of the Company’s stock price. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s Form 10-K filed with the SEC on May 28, 2024, as amended on May 30, 2024, and June 24, 2024, as updated by the “Risk Factors” section of the Company’s first quarter 2024 Form 10-Q filed with the SEC on July 30, 2024, and other documents filed by the Company from time to time with the SEC. View source version on : CONTACT: Investors (English):ir@faradayfuture.com Investors (Chinese):cn-ir@faradayfuture.com Media:john.schilling@ff.com KEYWORD: CALIFORNIA NEVADA UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: SOFTWARE VEHICLE TECHNOLOGY EV/ELECTRIC VEHICLES LUXURY ALTERNATIVE VEHICLES/FUELS TRANSPORTATION TECHNOLOGY AUTOMOTIVE TRAVEL ARTIFICIAL INTELLIGENCE RETAIL AUTOMOTIVE MANUFACTURING MANUFACTURING SOURCE: Faraday Future Intelligent Electric Inc. Copyright Business Wire 2024. PUB: 12/19/2024 04:30 PM/DISC: 12/19/2024 04:28 PM
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Dogecoin ( DOGE -1.07% ) is certainly driving plenty of investor intrigue this weekend, with one of the biggest moves among the top-10 cryptocurrencies in the market. The dog-inspired meme token surged more than 16% from Friday at 4 p.m. ET to Saturday morning's peak, before giving up the vast majority of these gains on Sunday. Investors appear to be taking some profits after an incredible surge that saw Dogecoin break through the $0.48 level this weekend. Now, it's worth noting that at this weekend's high, which represented a multi-year high for the meme token, Dogecoin was roughly 50% away from breaking a new all-time high. And given this token's impressive momentum, and the moves seen across the crypto sector in recent weeks with other notable mega-cap projects breaking through key psychological levels and making new all-time highs, there are plenty of reasons why investors continue to grow more bullish on Dogecoin breaking through the previous high of a little more than $0.73 per token. Let's dive into what's driving this move, and where Dogecoin could be headed from here. Meme tokens are popping and dropping The investing landscape for most cryptocurrencies is one that any investor would identify as being volatile. For Dogecoin, a project that's been the beneficiary of some rather strong politically infused tailwinds , this ride is one that's been mostly upside-at least since the reelection of Donald Trump to the presidency. As a very friendly figure to the crypto movement, Donald Trump has previously espoused a number of policies that would be beneficial for the crypto sector as a whole, and particularly projects that are U.S.-based. And with Elon Musk now heading up the so-called "Department of Government Efficiency" (DOGE), investors are betting that continued commentary from the richest man in the world around Dogecoin specifically could propel this token even higher from here. However, Sunday's selling pressure does appear to provide some pause for investors looking to place bets on this meme token potentially making a run toward all-time highs. On Sunday, the crypto market dipped amid sector-wide profit-taking as a new week rolled in. And as I'll get into below, some rather bearish liquidations data started flowing through, suggesting forced selling could be leading to at least some of today's rebound for Dogecoin. Where is Dogecoin headed from here? This weekend's price action could indicate what investors are likely to see moving forward. In my view, the Saturday pop that brought about three-year highs for Dogecoin is emblematic of the incredible upside momentum Donald Trump and Elon Musk have provided for projects like Dogecoin. However, Sunday's decline does suggest leveraged bets to the upside on Dogecoin are getting unwound to a much greater extent, and this is proven with the most recent 24-hour data on crypto liquidations. Approximately $21 million of long derivatives bets on Dogecoin have been liquidated over the past day, relative to roughly $7 million in bearish bets liquidated over the same time frame. In other words, forced selling is at least partly responsible for the quick drop Dogecoin investors have seen from fresh multi-year highs. I think Dogecoin will remain a top token to watch in the coming days, and I expect to see continued volatility with this project take hold in the coming weeks. This remains a top crypto project only those with the stomach for this kind of intense volatility may want to look at. But it's also a project that's certainly entertaining to watch from the sidelines, and as Elon Musk has attested in the past, invest a little funny money into to see where it goes.
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BOSTON (AP) — Boston Celtics center Kristaps Porzingis is slated make his season debut Monday night against the Los Angeles Clippers following offseason ankle surgery. The 7-foot-2 Latvian center was upgraded from probable to available about an 90 minutes before tipoff, though Celtics coach Joe Mazzulla said how much he'd play was to be determined. Veteran center Al Horford, who has started 14 of the Celtics 17 games this season, is out Monday with an illness. Fellow big man Luke Kornet is also sitting out as he continues to deal with hamstring tightness. “He has worked hard, he's in good shape. We'll put him in position to be healthy and be successful and do what's best for the team,” Mazzulla said. “He's been pretty consistent, just based on his work ethic and what he's done to get to this point.” Porzingis had surgery to fix a tear in the tissue that holds the ankle tendons in place. The issue limited him to seven playoff games during the Celtics' NBA championship run last season. Boston is 14-3 this season, but has missed his presence on the inside, with teams routinely outscoring the defending champions in the paint. Mazzulla acknowledged that how Porzingis plays on the offensive end, particularly how he operates sometimes out of the high and low post, will force some adjustment from how the team has played this season without him on the floor. “I think last year we had an opportunity to see how teams were guarding him,” Mazzulla said. "That'll take a little bit of time to figure out what the coverages are, just get used to that spacing. That'll take some time. ... Then we'll figure out how we go from there." The original window for Porzingis' return following surgery was five to six months. But Celtics president of basketball operations Brad Stevens said before the season that they didn't want to hold to a specific timeline because of the uniqueness of the injury. Porzingis injured his ankle in Game 2 of the NBA Finals against the Dallas Mavericks and missed the next two games. He returned for Game 5, contributing five points and one rebound in 16 minutes as the Celtics beat Dallas 106-88 to clinch their record 18th title. Porzingis averaged 20 points and seven rebounds in 57 games for last season. He signed a $60 million, two-year extension with Boston in the summer of 2023 after the Celtics acquired him in a trade with Washington. AP NBA: https://apnews.com/hub/nba“I’m Tired”: Fabio Fognini Reacts After Winning First ATP Title in 2024Alpheus Medical Announces Positive Phase 1/2 Trial Results for the Treatment of Recurrent High-Grade Gliomas