Why are Lucid shares rising?
Lucid Group LCID –0.74% stock was rising because the electric-vehicle start-up is delivering more cars. Ramping up production and deliveries is key for Lucid in 2022, but Tuesday's delivery news didn't qualify as a surprise–and the stock couldn't hold its early gains.Apr 12, 2022
Is Lucid a good stock to buy right now?
Will Lucid stock go up?
What is the prediction for Lucid stock?
The 4 analysts offering 12-month price forecasts for Lucid Group Inc have a median target of 40.50, with a high estimate of 50.00 and a low estimate of 12.00. The median estimate represents a +148.92% increase from the last price of 16.27.
Is lucid a risky stock?
Lucid is building the foundations of a promising business, but its growth is still too speculative, its stock is too expensive, and it will bleed red ink for the foreseeable future.4 days ago
Is Lucid overvalued?
Why is lucid stock dropping today?
Is Lucid undervalued?
Why is lucid stock so low?
Does Lucid stock pay dividends?
Has lucid sold any cars?
Can you buy stock in Lucid Motors?
What happened
Shares of Tesla rival Lucid Group ( LCID -4.06% ) powered higher on Monday, rising a solid 6.5% as of 2:15 p.m. ET as investors read an upgrade for Tesla and wonder if it might mean good things for Lucid stock, too.
So what
This morning, Swiss megabank Credit Suisse upgraded shares of Tesla stock to outperform.
NASDAQ: LCID
And yet, Credit Suisse also pointed out that Tesla has an advantage over legacy automakers such as Ford Motor Company and General Motors: As a pure play EV maker, Tesla does not need to "tackle the challenges that legacy OEMs must address [including] margin dilution, manufacturing transition, [and] distribution," as they switch from doing what they're good at (gasoline cars) to doing what they're new at ( electric cars )..
Now what
And this is an advantage that might be true for Lucid as well. Like Tesla, Lucid is building an EV business from scratch, and free of all the added costs of trying to transition from an existing internal combustion engine car business. Like Tesla, Lucid is vertically integrated.
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The company officially announced the initial deliveries of its luxury electric sedans will be this weekend
Howard grew up in Philadelphia watching the Philly sports teams struggle for championships. He has been investing since 1989 and been a Fool since 2001. Prior to joining The Fool as a contract writer in 2019, Howard worked in the steel business as an engineer for 28 years.
What happened
Excitement has been growing over electric vehicle start-up -- and potential strong Tesla competitor -- Lucid Group ( NASDAQ:LCID) as it gets closer to shipping its first vehicles. Today the company announced that will begin this Saturday, and the stock popped 10%. At 11:05 a.m. EDT, shares had given up some of those gains but remained up 5.3%.
So what
Lucid isn't simply delivering its first Air Dream Edition electric sedans this weekend. It is also holding a rally for the new owners hosted by Lucid leadership "on a route that showcases the vehicle's standout ride, handling, and performance capabilities," the company said.
Now what
Lucid expects to produce 520 of its Air Dream Edition vehicles at $169,000 each. They come in two versions -- Range and Performance. The Range editions can reach 520 miles on a single battery charge. That range significantly beats the Tesla Model S Plaid's, which is listed at 396 miles.
Who is the CEO of Lucid?
Just when investors were looking forward to Lucid's big delivery day coming up this weekend, CEO Peter Rawlinson 's latest comments, including about Tesla ( TSLA -0.37% ), are sending the stock even higher.
When will Lucid start production?
6, Arabic television news channel Al Arabiya revealed that Saudi Arabia's Standards and Metrology Authority had approved Lucid's plans to start production of electric vehicles in the kingdom by 2024.
How much is Lucid Air Pure?
This morning, at a conference in Riyadh, Rawlinson revealed Saudi Arabia is the second-largest market for Lucid in terms of preorders and that he eventually dreams of selling the Lucid Air Pure model for a price point as low as $70,000 a car, as compared with the company's Dream Edition priced at $169,000 a car. Dream Edition, Lucid's first as well as most expensive model, is ready for deliveries.
When will Lucid release its first Dream Edition?
Rawlinson's comments came just one day after Lucid confirmed it'll be delivering its first Dream Edition sedans starting Oct. 30, a milestone that's already triggered frenzied buying activity in the EV stock. With Lucid not only giving followers regular glimpses into the big event through pictures on social media platform Twitter but also planning to organize a rally for its first customers' inaugural drive -- and setting Nov. 15 as the date of its quarterly earnings release -- interest in the red-hot Lucid stock is unlikely to wane anytime soon.
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Is Lucid a stock?
Although Lucid is a closely watched stock, one recent development that investors may have missed is the company's plans for Saudi Arabia.
Key Points
Lucid recently grew the already robust cash on its balance sheet, and investors are watching how it spends it to grow.
NASDAQ: LCID
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What happened
Shares of electric vehicle (EV) maker Lucid Group ( LCID 4.23% ) started the day in the red, down as much as 5.6%. The stock quickly reversed course, however, rising as much as 4%. By 2:55 p.m. ET, Lucid shares had settled in with a gain of 3.1%.
So what
Lucid didn't put any major news out today, or over the holiday weekend. But the company has been widely discussed as a potential big winner among investors, particularly since fellow EV start-up Rivian Automotive went public last month.
Now what
Lucid's move in the market today also reflects the mix of excitement and risk associated with the company's future. Since it reported its third-quarter financial update in mid-November, the company has raised another $2 billion and its shares were added to the Nasdaq 100 index.
NASDAQ: LCID
Lucid will use its cash to expand both domestically and globally and to add a larger variety of electric vehicles. Most recently, the company announced the opening of its latest Lucid studio in San Diego. Its vehicle lineup currently includes four versions of the luxury electric Air sedan.
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What is the official website of Lucid Group?
The official website for Lucid Group is iv.churchillcapitalcorp.com.
What is the P/B ratio of Lucid Group?
Lucid Group has a P/B Ratio of 2,196.50. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.
What is the LCID symbol?
Lucid Group trades on the NASDAQ under the ticker symbol "LCID."
Does Lucid Group pay dividends?
Lucid Group does not currently pay a dividend.
