Faraday Future shares surge 27.91% after-hours as SEC closes four-year probe into SPAC listing and sales claims.

Faraday Future surged 27.91% in after-hours trading following the U.S. Securities and Exchange Commission’s (SEC) decision to conclude its four-year investigation into the company without recommending enforcement action. The SEC notified Faraday Future, founder YT Jia, and President Jerry Wang that no charges would be pursued over allegations of false statements tied to its 2021 SPAC merger and 2023 sales figures. The resolution removes a major regulatory overhang, allowing the company to redirect resources toward its core electric vehicle and robotics initiatives, including the upcoming Faraday Super X One van and EAI Robotics projects. Management emphasized the outcome enables full focus on strategic execution and partnerships, while the stock’s recovery aligns with Nasdaq’s $1 minimum price requirement compliance efforts.