What happened Evidently it wasn't the Faraday Future Intelligent Electric (NASDAQ: FFIE) bulls that were charged up about the market opening after the long weekend. Instead, it's the bears that are roaring today with shares of the electric vehicle manufacturer plunging 8.6% as of 10:44 a.m. EDT. The stock's drop today is hardly related to any disastrous news from the EV upstart; in fact, it was news that the company announced before the weekend -- nothing earth-shattering -- that seems to be the cause of the stock's decline. Image source: Getty Images. So what After the market closed on Friday, Faraday Future announced it was postponing its Investor Day that had been scheduled for Sept. 21 due to the increasingly stricter restrictions related to COVID-19. Faraday Future did not reveal a date for the Investor Day to be rescheduled. That's it? That's sending the stock down so sharply today? Apparently. The market hates uncertainty, and while the company attributed the postponement to the pandemic, investors may be worried that the cancellation of the event is actually a result of more significant challenges that the company is facing in developing its FF 91, all-electric luxury vehicle. Some skeptics, for example, may be concerned that the semiconductor shortage plaguing other carmakers is at play here, too. Now what Although Faraday Future disappointed the market with news that the Investor Day is on hold, the company attempted to allay investors' concerns, stating that production of the FF 91 is still on track to begin before July 2022, consistent with the company's previously stated goals. Competition among EV makers has been ramping up considerably over the past year, and skeptics may fear that Faraday Future is not keeping pace with rivals Tesla and Lucid Group. Today's sell-off, however, seems like an overreaction, and it offers potential investors the chance to pick up shares at a more attractive price. 10 stocks we like better than Faraday Future Intelligent Electric Inc.When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Faraday Future Intelligent Electric Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of August 9, 2021 Scott Levine has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.Source