Haha, over these years, following Jia Yueeting’s investments in Faraday Future, everyone got carved up.

Recently, Faraday Future’s stock price has fallen to $0.06, staying below $0.1 for the long term. It won’t be long before it’s delisted. To avoid being delisted and to keep this listed financing platform, Jia Yueeting has proposed a reverse stock split at a ratio of 150:1.

What does that mean? It means taking 150 shares and combining them into 1 share. The market cap stays the same, share capital decreases, and the stock price increases by 150 times—turning it into $9. Since it’s above $1, it can “survive” for a while longer.

This isn’t Jia Yueeting’s first time doing something like this. In August 2023, 80 shares were combined into 1; in March 2024, 3 shares were combined into 1; and in August 2024, 40 shares were combined into 1. If this reverse split is completed this time, the total consolidation multiple will be 1.44 million times.

That is to say, before August 2023, if you bought 1.4 million shares of Faraday Future stock, you would have had to spend $220k—about RMB 1.5 million. After this reverse split, those 1.4 million shares become 1 share, and the stock price becomes $9, which is roughly RMB 60.

Three years ago, trusting Jia Yueeting and investing RMB 1.5 million—now it’s only worth about RMB 60. This is basically a pig-butchering scam.

Yes, but anyone who believes Jia Yueeting in the end gets carved up all over, badly injured #Gate事件合约首发狂欢