LCID stock is positioned to fall today when the opening bell rings. The double whammy of an SEC investigation and large debt offering in the same week are pushing the company’s share price down sharply. How deep the rout goes is not yet known.
Full Answer
Could lucid stock help you become a millionaire?
Dec 28, 2021 · The stock of highly followed electric vehicle maker Lucid Group ( LCID -13.10%) has been in decline over the last week, even without any specific news from the company. That trend continued today ...
Is lucid Group stock overvalued?
Dec 06, 2021 · Shares of electric-vehicle maker Lucid Group ( LCID -5.41%) opened sharply lower on Monday after the company disclosed in a regulatory filing that it received a subpoena for documents from the U.S....
Why is everyone talking about lucid stock?
Jan 04, 2022 · What happened. Lucid Group (NASDAQ: LCID) stock was down 4.7% as of 1:15 p.m. ET Tuesday, despite riding higher Monday on a monster day for Tesla (NASDAQ: TSLA). Lucid stock benefited from a Tesla ...
Why is everyone talking about lucid Group stock?
Dec 09, 2021 · LCID stock is positioned to fall today when the opening bell rings. The double whammy of an SEC investigation and large debt offering in the same week are pushing the company’s share price down...
Why is lucid Motors stock dropping?
What is wrong with Lucid stock?
Is lucid a good stock to buy right now?
What will lucid stock be worth in 5 years?
Is Lucid overvalued?
Is Lucid Motors better than Tesla?
Who is buying lucid stock?
The government of Saudi Arabia is going to buy up to 100,000 Lucid (ticker: LCID) EVs over the next 10 years. The initial commitment is for 50,000 with an option to purchase 50,000 more.Apr 27, 2022
Can I buy stock in lucid air?
Has lucid sold any cars?
Can Lucid Motors survive?
Does Lucid have a future?
Is Lucid undervalued?
Key Points
The SEC appears to be investigating the SPAC deal that took Lucid public.
NASDAQ: LCID
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What happened
Shares of electric-vehicle maker Lucid Group ( LCID 5.46% ) opened sharply lower on Monday after the company disclosed in a regulatory filing that it received a subpoena for documents from the U.S. Securities and Exchange Commission (SEC). As of 11:00 a.m. ET, Lucid's shares were down about 8.3% from Friday's closing price.
So what
In an 8-K filed on Monday morning, Lucid disclosed that it received a subpoena from the SEC on Dec. 3 that requested documents "related to an investigation" by the Commission.
Now what
Lucid is different from Nikola and Lordstown in one hugely important respect: It's actually shipping a product that delivers on its promises. Lucid made bold claims around the Air's range and performance that might have been suspect before the car went into production, but independent testers have now verified the claims.
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What happened
Lucid Group (NASDAQ: LCID) stock was down 4.7% as of 1:15 p.m. ET Tuesday, despite riding higher Monday on a monster day for Tesla (NASDAQ: TSLA).
So what
On Monday Tesla announced that it delivered 308,600 electric vehicles in the fourth quarter of 2021, and 936,172 EVs in all of 2021, crushing analyst predictions on both counts. And while that might sound like pretty good news for the popularity of EV stocks in general, it might actually only be good news for Tesla stock in particular.
Now what
In contrast, Tesla is both growing production and earning a profit while doing it -- so much profit, in fact, that Elon Musk says he doesn't even need government subsidies anymore, and that " all subsidies should be eliminated ."
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What Happened With LCID Stock
In a news release, Lucid Group said that it plans to use the money to finance or refinance its ongoing operations, including the manufacturing of its Lucid Air electric sedan and various energy storage systems.
Why It Matters
News of the debt financing comes when LCID stock was already under pressure.
How much is Lucid Air worth?
Commenting on Lucid Air, Cramer said, “I think it's a gorgeous car that will have a lot of buyers.” While the initial euphoria and aura take LCID to a market cap above $30 billion, despite it being a pre-revenue company, it has to deliver on the execution part.
Is Lucid Air a good competitor to Tesla?
Overall, Lucid Air has a strong value proposition and should be a worthy competitor to Tesla. The fall in LCID stock due to fears of PIPE investors exiting looks like a buying opportunity.
Why is Lucid Motors stock under pressure?
The stock was under pressure because a lockup period expired for some of the electric vehicle company's big investors.
Who is the CEO of Lucid Motors?
Lucid Motors is seen as a potentially formidable player in the electric luxury sedan space. The company's CEO and CTO Peter Rawlinson was the chief engineer at Tesla ( TSLA) for the model S prior to joining Lucid in 2013.
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