Why Electric-Vehicle Stock Faraday Future Stock Zoomed 18% Higher Today

The name Faraday Future Intelligent Electric (NASDAQ: FFIE) might be quite a mouthful, but it was sweet music to investors on Thursday. The niche electric-vehicle (EV) maker saw its shares rocket slightly over 18% higher on the day, thanks to a rather encouraging corporate update issued late in the trading day.

Faraday Future said in a press release that its plans to deliver the first of its vehicles in the third quarter of this year should be realized. It said its factory in Hanford, California is coming along "at an impressive pace" and will be able to fulfill the company's ambitions to roll out its flagship FF 91 EV at that time.

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Source Fool.com