Trade of the Day: The Faraday Future (FFIE) Stock Chart Warns of Big Trouble Ahead

Core Insights - Faraday Future (NASDAQ: FFIE) has experienced a significant decline in stock value, losing over 99% in the past year, with shares dropping from $65.30 to as low as 4 cents [1] - The company has faced operational challenges, including delays in filing its first-quarter earnings report, which may lead to a potential delisting [1] - Recent trading patterns suggest a bearish outlook, with the stock showing signs of a "falling three methods" pattern in technical analysis [2][3] Stock Performance - FFIE stock opened at 82 cents on May 29 and closed at 44 cents, with subsequent sessions showing slight recovery but failing to reach previous highs [2] - The stock's performance has been volatile, with a notable gap down and small upswings that do not breach prior opening prices [2] Trading Strategy - Given the current market conditions and technical analysis, speculators may consider buying puts, particularly the July 19, 2024, 50 cent put option, which has decent volume for a speculative trade [4] - The implied volatility of 434.44% indicates a high-risk, high-reward scenario for potential bearish trades on FFIE stock [5]