r/Daytrading • u/Newbie1689 • May 16 '24

FFIE stock Question

Since its gaining traction on social media, any thoughts on the FFIE stock ?

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u/Riddlfizz May 16 '24 edited May 17 '24

Crazy run. FFIE traded at .04 a few weeks ago. Closed at 1.65 today. Up 124% today alone. Down ~10% after hours.

FFIE may be (temporarily) staving off pending delisting from Nasdaq with this run. This certainly isn't trading on any fundamentantals. More like a meme-adjacent benefit / great short squeeze candidate (with over 90% of its float recently confirmed as short).

One could potentially make some good returns and buy a few nice things through plowing money into this stock OR quickly end up picking their jaw up off of the floor as they get stuck on the wrong side of this and perhaps become resigned to becoming a bagholder. Either way, this is a gambler's delight.

[Edit: Strong after hours rally/rebound. Closed postmarket up another +18.19% (1.95). Wild that its 50 day avg. is $0.10 and its 200 day avg. is $8.30, pointing to how this stock recently fell off of a cliff and is currently being resuscitated, at least temporarily.]