Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) stock is trading higher on Wednesday after the company announced it received a 10% stake in Grow Fandor.
The Details: The shares were originally held by YT Jia, Founder and Chief Product User Ecosystem Officer of Faraday Future. The transferred shares made up almost 60% of Jia’s personal shares.
“FF is honored to receive these shares, as both companies actively explore potential collaborations to leverage their respective strengths,” said Matthias Aydt, Global CEO of Faraday Future.
How To Buy Faraday Future Stock
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Faraday Future (NASDAQ:FFIE)'s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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FFIE Price Action: At the time of writing, Faraday Future shares are trading 11.5% higher at $2.59, according to data from Benzinga Pro.
Image: Photo via Shutterstock
