Faraday Future jumped 5% in premarket after shooting up 124% on Thursday as it reversed about a week's worth of decline.

The company did release any news on Thursday or post any new SEC filings. Earlier in the week, Faraday Future Intelligent ( FFIE ) announced that it will hold a launch event for its China-U.S. Automotive Bridge Strategy on September 19. The electric vehicle maker said the event will provide more details and an execution plan for the strategy and introduction of Faraday's ( FFIE ) second automotive brand. Faraday ( FFIE ) said its China-U.S. automotive bridge strategy and second brand approach position will leverage cutting-edge AI and software technologies for users across multiple market segments. The strategy is aimed at accelerating Faraday's ( FFIE ) mass-market entry, while maintaining its ultra-luxury offering. The bridge strategy was noted to mark a return to a two-brand approach.