It's truly unexpected that BlackRock recently significantly increased its stake in Faraday Future. According to Jia Yueting's weekly investor presentation on October 27th, BlackRock's holdings increased by 1.41 million shares compared to the end of the previous quarter, reaching a total of 6.8 million shares as of September 30th.
Faraday Future's stock price has plummeted in recent months, so BlackRock has increased its holdings despite headwinds.
Not only that, Jia Yueting also shared two pieces of good news regarding the new FX model: first, an auto finance company has been established to provide loans and long-term leases for consumers purchasing the FX model, and second, production of the FX model is about to begin.
This means the FX model is now nearly ready for consumer sales, which may be a key reason for BlackRock's continued optimism about Faraday Future. $H
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