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Business Wire
4 days ago
- Business
- Business Wire
YT Jia Shares Weekly Investor Update: Faraday X Unveils Two Groundbreaking Global-First Products Along with a Transformative Technology Architecture in Los Angeles on July 17
LOS ANGELES--(BUSINESS WIRE)--Faraday Future Intelligent Electric Inc. (NASDAQ: FFAI) ('Faraday Future', 'FF' or the 'Company'), a California-based global shared intelligent electric mobility ecosystem company, today shared a weekly business update from YT Jia, Founder and Co-CEO of FF. 'Hey everyone, welcome to Investor Weekly Issue 12. This week was huge — besides the big global initial launch on July 17 for our two game-changing products, the FX Super One and the Super EAI F.A.C.E. system, plus the FF EAI Embodied AI Agent 6x4 Architecture, we've got some really exciting news to share. What's New This Week: Today we're starting with Government affairs updates in terms of S7 System and Capability Build-Up. Some great news on the policy front too for our Bridge Strategy. This week, Donald Trump Jr. recently spoke about the U.S. economy and industry, giving a shout-out to homegrown AI and tech innovators like FF as well as multinational giants like Rolls-Royce and Samsung, recognizing their role in driving U.S. manufacturing upgrades and economic growth. His recognition effectively positions us as a strategic contributor and may help to create a more favorable policy environment for FF, FX, and our Global Auto Industry Bridge Strategy. And here's another big one: BlackRock, the world's largest asset manager, recently filed their 13G as of July 17, showing they've boosted their FFAI shares almost 7 times from last quarter. As of June 30, 2025, they own about 5.39 million shares, up from 780,000. That's four quarters straight of increasing their stake! BlackRock's significant increase in holdings shows the top institutional investors increased institutional interest in Faraday Future and belief in FF and FX's business future. Going to S5 Finance and Capital updates: We just secured $105 million in new cash financing commitment, which will help fund the Company's aggressive growth strategy, including the launch of the FX Super One and advancement of the Company's position in the AIEV Market. Huge thanks to our investors for their trust and support — we're really living up to the commitment 'Promises made, promises kept.' Going back to S1, User Ecosystem: This week, we hosted the 717 Global Initial Launch in Downtown LA, set against the city's most beautiful skyline. Super One and Super EAI F.A.C.E. finally got to meet the world. We also officially opened consumer pre-orders for the FX Super One. We offer sincere thanks to everyone who witnessed and co-created this milestone. We are also deeply grateful to our S Tier One suppliers, dedicated partners, and loyal users who have always put their trust in us. Our choice of venue was deliberate. We selected a unique location with breathtaking views of the Los Angeles skyline. I think we are also the first auto company ever to launch a product there. This was about more than a beautiful sunset, it represents the 'dream chaser' DNA FF carries as a company born right here in LA. In fact, just one day before the launch event. We nearly lost our venue due to a series of challenges. We were almost forced to switch to a backup plan. But in the end, true to FF's 'Never Give Up' spirit, the team refused to give up. And they overcame every obstacle to make the impossible possible—once again. I've always believed that achieving anything meaningful requires exactly that kind of determination and faith. FF Forward, Never Give Up. I'll see you all next week.' ABOUT FARADAY FUTURE Faraday Future is a California-based global shared intelligent electric mobility ecosystem company. Founded in 2014, the Company's mission is to disrupt the automotive industry by creating a user-centric, technology-first, and smart driving experience. Faraday Future's flagship model, the FF 91, exemplifies its vision for luxury, innovation, and performance. The FX strategy aims to introduce mass production models equipped with state-of-the-art luxury technology similar to the FF 91, targeting a broader market with middle-to-low price range offerings. FF is committed to redefining mobility through AI innovation. Join us in shaping the future of intelligent transportation. For more information, please visit FORWARD LOOKING STATEMENTS 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 'plan to,' 'can,' 'will,' 'should,' 'future,' 'potential,' 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 the Super One MPV, Super EAI F.A.C.E., and EAI Embodied AI Agent 6x4 architecture, 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: the Company's ability to secure necessary agreements to license or produce FX vehicles in the U.S., the Middle East, or elsewhere, none of which have been secured; the Company's ability to homologate FX vehicles for sale in the U.S., the Middle East, or elsewhere; the Company's ability to secure the necessary funding to execute on its AI, EREV and Faraday X (FX) strategies, each of which will be substantial; the Company's ability to secure necessary permits at its Hanford, CA production facility; the Company's ability to secure regulatory approvals for the proposed Super One front grill; the potential impact of tariff policy; 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 March 31, 2025, and other documents filed by the Company from time to time with the SEC.
Newsweek
6 days ago
- Business
- Newsweek
Donald Trump Jr.-backed gun stock, GrabAGun, fizzles first week on market
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. The gun stock backed by Donald Trump Jr. fizzled on Friday after making its New York Stock Exchange debut two days earlier. It was 1.09 percent down by market close on Friday and continued dropping modestly in after-hours trading. Trump Jr. and his partner, Omeed Malik, helped take GrabAGun public on Wednesday, with Trump Jr. telling FOX Business that his support for the company was a rebuke of "woke" gun-related policies. "I think it's important," he told Fox. "It's what we've talked about for a long time, allowing these great American companies to have the same chance as others that have perhaps been a little bit more politically correct. So to come back as a former New Yorker, a political refugee to the free state of Florida, coming back to the People's Republic and taking a gun company public is like a, sort of a great vindication of so much of what we believe in ... you know, across sectors in this country that many Americans care about and have for decades, but perhaps didn't have the ability to get that sort of equal treatment." Trump Jr. is a board member, shareholder and adviser for GrabAGun and rang the opening bell at the NYSE as the company went public amid chants of "USA" from the trading floor. By the time markets closed that day, the stock had tanked sharply, falling more than 20 percent that day. Malik, meanwhile, is a Republican megadonor and the head of Colombier Acquisition Corp. II. This is a breaking news story. Updates to follow.
Business Insider
17-07-2025
- Business
- Business Insider
Stock of an online gun seller backed by Donald Trump Jr. drops 30% in its 2nd day of trading
GrabAGun Digital Holdings stock is down sharply in the two days since its market debut. The digital firearms seller counts Donald Trump Jr. as a member of its board of directors. Shares fell as much as 30% on Thursday, extending deep losses from its Wednesday trading debut. GrabAGun Digital Holdings started trading on the New York Stock Exchange on Wednesday after merging with Colombier Acquisition Corp II. Omeed Malik, CEO of the blank-check company, is a Trump campaign and Republican Party megadonor, and Donald Trump Jr., the oldest son of President Donald Trump, is a member of the company's board of directors and an advisor. After plunging on its first day of trading, the stock dropped again on Thursday. Shares were down as much as 30% to $9.24. Trading under the ticker PEW and describing itself as the " Amazon of guns," GrabAGun operates in a unique market niche: selling firearms and ammunition over the internet. Trump Jr. touted the GrabAGun IPO in multiple X posts, stating"What we're doing with @grabagun would have been unthinkable 4 years ago." The two-day plunge might not be surprising given how other firearm stocks have performed in 2025. Smith & Wesson Brands is down 17% year-to-date, and Sturm Ruger & Company stock has been highly volatile. Other Trump-linked stocks have had a tough year as well. Trump Media and Technology Corp. is down 44% year-to-date after being among the " Trump trades" expected to benefit from the president's second term. Marcus Sturdivant Sr., managing member of financial advisory The ABC Squared, nodded to the potentially polarizing nature of a public company whose business is selling guns, especially one directly linked to Trump. "It is challenging to grow a business when you isolate a large segment before your first stock is issued," Sturdivant said. "There is power in niche marketing, [but that] usually works better in operational sales than in stock market selling," he said.
Business Insider
17-07-2025
- Business
- Business Insider
Trump Jr.-Backed GrabAGun Stock (PEW) Tumbles on NYSE Debut
GrabAGun (PEW), an online firearm marketplace backed by Donald Trump Jr., saw a rocky start to its public trading on Wednesday. Shares of the company plunged about 24% on Wednesday. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The debut followed a $179 million special purpose acquisition company (SPAC) merger with Colombier Acquisition Corp. II, giving GrabAGun a quick entry to public markets. Trump Jr., who owns about 1% of the company and sits on its board, rang the opening bell earlier today. GrabAGun CEO Marc Nemati said the company wants to attract younger buyers who shop online and value their Second Amendment rights. Trump Family's Investment Focus GrabAGun's listing is the latest instance of President Trump's family investing in companies aligned with conservative political causes. It also shows renewed interest in SPAC deals by the Trump family. Last year, Trump Media (DJT), the parent company of Truth Social, went public through a SPAC deal. Donald Trump Jr. is the sole trustee of the trust holding President Trump's over 114 million DJT shares, which were placed there before he took office in January. Some other companies of which Trump Jr. is a member of the board are drone manufacturer Unusual Machines (UMAC), 'anti-woke' online marketplace PSQ Holdings (PSQH), and financial advisory firm Dominari Holdings (DOMH).
Yahoo
16-07-2025
- Business
- Yahoo
Donald Trump Jr-led online gun store known on Wall Street as ‘PEW' launches stock offerings
GrabAGun, an online gun retailer known on Wall Street as 'PEW,' went public Wednesday morning as newly minted board member Donald Trump Jr. rang the New York Stock Exchange's opening bell. Don Jr. joined the board of GrabAGun Tuesday, ahead of the online gun retailer's debut on the NYSE. GrabAGun, which sells firearms and accessories online, is backed by 1789 Capital, a private equity firm where Trump Jr. is a partner. The venture capital firm has a focus on investing in conservative, MAGA-aligned companies, including the Tucker Carlson Network, XA, and SpaceX. GrabAGun's shares will trade on the NYSE under the symbol 'PEW,' which Trump Jr. says represents the sound of shooting a gun, according to NBC News. 1789 Capital founder and President Omeed Malik's company, Colombier II, acquired GrabAGun, and after a SPAC merger, the company expects more than $179 million in gross proceeds at the closing bell Wednesday, Malik and Trump Jr. told Fox News' Maria Bartiromo. Donald Trump Jr. joined the board of GrabAGun just before the company debuted on the New York Stock Exchange on Wednesday. (Getty Images) 'To be able to come back to the New York Stock Exchange and actually take a gun company public, feels like such a vindication of all the insanity, all the woke nonsense that we've been watching and facing for the last decade in America,' Trump Jr. said. Trump Jr. said the company intends to use the technology platform to open up the firearm space and allow more people to gain access to firearms. 'It's a $25 billion TAM (Total Addressable Market) and it's been suppressed. So what we're doing here with this transaction is unleashing the desire for people that already exists,' Malik said. GrabAGun's shares will be traded on the NYSE under the symbol 'PEW.' (Getty Images) 'You have one out of every two households in America that has a firearm. We have a Second Amendment right. You have private actors, often at the behest of the federal government, have been suppressing that right,' he continued. 'So what Don and I have done is circumvented those gatekeepers, who are self-appointed, and allowed an industry to grow the way it should be able to.' Solve the daily Crossword
