Lucid Group, Inc

Lucid Group, Inc NASDAQ
Upcoming Earnings
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Upcoming Earnings
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Important events

Jan 122022

Driving straight into a rally

EV stocks get oiled up and ready for their next leg of the race.

  • Lucid motored 9% on Tuesday, with other EV stocks joining the fun – Hyzon Motors (HYZN) and Nikola (NKLA) lifted just under 9%, and Rivian (RIVN) gained a mild 3%.
  • Oil prices helped the stock along, rising to $84 a barrel on Tuesday. Sounds like an odd link at first glance, but higher oil prices are seen as a quicker reason to electrify.
  • Despite Lucid’s nearly 20% gains this year, not everyone’s convinced it’s on the road to success – Redburn analyst Charles Coldicott says that because it’s one of Tesla’s most direct competitors, the risks are higher.
Dec 102021

Debt downfall

EV-maker Lucid has reversed the last six weeks of gains after its debt offering news goes down like a lead balloon.

  • Prices tumbled over 18% on Thursday to hit its lowest price since November 4, now down over 22% for the week.
  • It’s offering $1.75bn in senior convertible notes, planning to raise up to $1.99bn and use the cash for “green investments”.
  • The stock suffered through an SEC subpoena this week, which overshadowed exciting news from the White House that will see federal infrastructure electrified – including its 650,000 vehicles.
Pedro da Silva / Unsplash
Dec 072021

SPAC sass from the SEC

The SEC is on a mission to suss out recent SPAC deals, and it’s Lucid’s turn in the firing line.

  • Shares fell nearly 20% in Monday morning trading to a monthly low before closing down 5.1%. It’s still up 77% from its IPO opening price.
  • The SEC has subpoenaed Lucid over its $24bn blank-check deal with Churchill Capital, wanting details on “certain projections and statements.”
  • Is SPAC season being forced to an end? It’s the latest in a long list of SPACs being investigated by the regulator, including Lordstown Motors (RIDE), Nikola (NKLA), Canoo (GOEV), and (as of today) Donald Trump’s upcoming media venture.
Nov 162021

Investors tanks are running on faith

Lucid releases earnings that are running on fumes, but prices are being driven by other factors and build on its 20% November gains.

  • Lucid reported weak revenue of $232k on top of a loss, but as it nears a delivery boom, prices remain full steam ahead.
  • People weren’t expecting much considering it had yet to deliver a car car in Q3 – it delivered its first cars at the end of October, which has had a stellar reception.
  • It has an order book of $1.3bn after EV reservations topped 17k, up 5k from Q3.
  • It's on track to hit its production target of 20,000 vehicles next year despite supply chain disruptions.
  • The market is hungry for EVs, especially in light of Biden’s new $1.2tn infrastructure bill, but that also means...
  • Competition is heating up. Rivals like like Fisker (FSR) and the newly public Rivian (RIVN) – which is already worth more than Ford – are hot on Lucid’s heels.
Nov 052021

Lucid steals the show

Lucid revs up 12% on Friday as the EV maker builds on its first-delivery momentum.

🏁 Lucid delivered its first ever vehicle at the end of October, and people are loving their new whip, sending prices up 13% last week.
🤝 Lucid made a bunch of promises during 2021, and continues to come through on all of them – and on time too, unlike rival Tesla.
The EV market is coming alive with hot new competitors, and (soon to be public) Rivian started deliveries of its electric truck in September – both companies have hired former Tesla execs for their projects. Watch out, Elon.
Sep 162021

Move over, Tesla

Turns out that Lucid Motors’ debut sedan has longest range of all the electric vehicles on the market. The car lasts over 100 miles longer than any of its rivals, according to its CEO. Will the car be able to push out its competitors?

Prices lift over 5% on the news.
This is massive. Congrats to the @LucidMotors team on ensuring the top technology and innovation! 520 miles on a single charge 👏 More than 100 miles farther than its closest competitor. $LCID 😱
Jul 272021

Lucid Motors races ahead in its first day of trading

Tesla competitor Lucid Motors is now a public company, and shares close up over 10% on Monday after completing its mega SPAC deal to collect $4.5 billion in fresh new capital.

Shares of electric vehicle start-up Lucid Motors began trading on Nasdaq Monday morning after its SPAC deal, one of the largest such reverse mergers ever, and investors were raring to go. Lucid has been around for a while now, founded back in 2007 as a battery company before setting out to build its own electric sedan in 2016. To get ahead of the game, it even tapped some former Tesla (TSLA) Model S Engineer Peter Rawlinson to lead the team, and eventually become CEO. A lot of Lucid’s senior team are taken from the same pool of former Tesla (TSLA) talent, making it one of the few EV start-ups led by a team that has actual experience in launching electric vehicles. Lucid and its high-end luxury EVs have since become one of Tesla’s (TSLA) fiercest competitors.

Lucid Motors inked a deal in February to go public via a reverse merger with blank check company Churchill Capital IV in a deal that valued the luxury EV maker at a whopping $24 billion. The company was actually meant to start trading on the market on July 22, but its debut was delayed because not enough shareholders had voted on one of the mergers key proposals – not because they weren’t on board, but because the codes they needed to vote went straight to their spam folders. Awkward.

After its mechanical issues, the firm finally got the show on the road and started trading on Monday. Prices opened at $25.24 before popping 15% to $29.03 and closing up over 10%. CEO Peter Rawlinson pointed out that the $4.4 billion it raised in its merger puts it at an advantage over Tesla (TSLA), which started its early days with only the $300 million it managed to raise when it went public in 2010.

That’s all well and good, but in order to even begin to catch up with the industry leader and its annual delivery rate of 1 million vehicles, Lucid is going to have to get in gear and focus on actually getting an actual car on the actual road. After COVID-related obstacles halted production, the EV company hopes to start delivering its luxury Air sedan later this year, and expects to deliver fewer than 1,000 cars this year but up to 20,000 in 2022. The sedan has already prompted a friendly rivalry with Tesla (TSLA), and Elon Musk responded to the car’s pricing. At $69,900 (with a federal tax credit), the price undercut the Model S by just under $2,000. So what did Elon do? He cut the Model S price to $69,420.

The gauntlet has been thrown down!

challenged the technoking.