Why Is Faraday Future (FFIE) Stock Down 32% Today?

Group 1 - Faraday Future reported a revenue of $800,000 for the fiscal year 2023, significantly below Wall Street's expectation of$2.59 million, marking the first year the company has reported revenue [1] - The company's net loss improved to -$432 million in 2023, compared to -$602 million in 2022, with EV sales commencing in the third quarter of the year [1] - CEO Matthias Aydt expressed optimism about future growth through efficiency and new market entries in 2023, emphasizing a commitment to enhancing product strength and shareholder value [1] Group 2 - FFIE stock experienced a decline of 31.6% as of Wednesday morning, with 55.1 million shares traded, which is below the daily average trading volume of approximately 95.4 million units [2]