Why Faraday Future Shares Tumbled Tuesday

·2 min read

Shareholders in electric vehicle (EV) start-up Faraday Future Intelligent Electric (NASDAQ: FFIE) have seen their stock triple during the first few weeks in July then drop back down right about where it started. After the company reported earnings last night, the shares are giving investors another ride today. Today's plunge came as the company reported a net loss of $142 million in the second quarter, including an operating loss of $137 million.