"Watch out, J Capital Research. It's not the first time you have made a fool of yourself," Faraday Future founder Jia Yueting wrote in both Chinese and English.
(Photo source: Faraday Future)
After being targeted by short-seller J Capital Research, Faraday Future has refuted it.
Faraday Future founder Jia Yueting said in its WeChat update that J Capital Research's allegations are "Same nonsense, nothing more than a hash of old news," according to local media outlet Aicaijing.
"Watch out, J Capital Research. It's not the first time you have made a fool of yourself," Jia wrote in both Chinese and English.
"See you in July 2022 in Hanford, California. See you on the New Species birthday," he added.
Separately, cls.cn quoted Faraday Future sources as saying that J Capital Research's short-selling report was full of misleading information that lacked logic and was not based on facts.
Faraday Future expressed disappointment and condemned the agency's irresponsible behavior and will reserve the right to pursue legal action against such false allegations, the source said.
On Thursday, J Capital Research released a short-selling report on Faraday Future, stating "Move Over Lordstown: There's a New EV Scam in Town."
The first paragraph of the report reads:
So far, it's nothing but a bucket to collect money from U.S. investors and pour it into So far, it's nothing but a bucket to collect money from U.S. investors and pour it into the black hole of debt created by its founder, China's best-known securities fraudster, Jia Yueting.
Faraday Future went public on the NASDAQ on July 22 through a merger with Property Solutions Acquisition Corp (PSAC), a special purpose acquisition company (SPAC), at an offering price of $13.78.
In their 28-page short-selling report, J Capital Research expressed doubts about FF's production capacity, capital performance, R&D investment status, and the penalties Jia received in China.