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NEW YORK, NY, July 26, 2021 — Lucid Group, which is setting new standards for sustainable mobility with its advanced luxury EVs, today became a publicly listed company trading on the Nasdaq Global Select Market with its Class A common stock and public warrants listed under the new ticker symbols “LCID” and “LCIDW,” …
Shares of LCDX can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Lucid Motors stock began trading on July 26 under the ticker symbol LCID on the Nasdaq.
At the helm of Lucid is Peter Rawlinson, a former chief engineer of the Model S under Elon Musk, Tesla’s CEO. He left Tesla after three years, feeling frustrated and limited in his work there. Rawlinson, 63, is a mechanical engineer by training.
|Founders||Bernard Tse Sam Weng|
|Headquarters||Newark, California, US|
|Key people||Peter Rawlinson (CEO, CTO) Derek Jenkins (VP of Design) Andrew Liveris (Chairman)|
|Number of employees||>2,000 (December 2021)|
Shares of electric-vehicle startup Lucid were dropping after the company said it received a subpoena from the Securities and Exchange Commission, leaving investors scrambling to decide what’s going on and what are the long-term risks, if any, to the stock. … Lucid shares were down almost 16% in premarket trading.
PHOENIX —Governor Doug Ducey today joined Lucid Motors to celebrate the start of production of its Lucid Air at its Advanced Manufacturing Plant in Casa Grande. “Today’s event signifies a new era in electric vehicle manufacturing in Arizona,” said Governor Ducey.Sep 28, 2021
In February 2021, Lucid Motors announced that it had agreed to merge with SPAC Churchill Capital Corp in order to pursue a publicly traded listing. The deal was valued at an estimated $11.75 billion.
Open $37.96. 52 Week Range 9.90 – 64.86.
Pricing for an entry-level version of the car, the Lucid Air sedan, starts at $77,400 before an up to $7,500 federal tax credit for plug-in vehicles. Lucid said it has received more than 13,000 total reservations so far.
Lucid’s listing in July was a huge dividend for Saudi Arabia’s Public Investment Fund (PIF), which invested more than $1 billion in the company in 2018 for a substantial stake and invested more in February.
PIF invested $1.3 billion in Lucid about three years ago, when the startup was running short of money. It still owns 63% of the startup following its public debut, SEC filings show.
Lucid Group has 1.65 billion shares outstanding.
Lucid began construction of the next stage during the third quarter; when complete, in 2023, the expanded factory will be able to build about 90,000 vehicles per year.
And remember, Tesla split its shares 5-for-1 in 2020, meaning that if you bought TSLA stock at its stock-split adjusted price of $3.80 per share in 2010, it would be worth around $$644 currently. … That’s nearly 170x growth.
The company is forecast to generate just over $80 million in sales this year. Lucid recently said it can do $2.2 billion in revenue in 2022. … Lucid Motors may very well be the next Tesla, but LCID stock may very well need a pullback before being a buy.
Faraday Future survived 2020 thanks in part to a $9 million loan from the Paycheck Protection Program and finished the year with just $1 million in the bank. … Now that Faraday Future is listed on the Nasdaq, the startup says it will take a year to get its electric SUV into production.
Lucid has made a splash as the first electric vehicle to receive an EPA range estimate of more than 500 miles. It did so with a 113-kWh battery while earning efficiency ratings as high as 130/132 mpg-e city/highway. That’s an improvement of 6/17 mpg-e city/highway over the 405-mile, 100-kWh Tesla Model S Long Range.
Shares of Lucid jumped 23% on Tuesday after executives told investors that the company saw increased reservations for its vehicles and that it’s still on track to build 20,000 Lucid Air sedans in 2022. Lucid began commercial production of its Air sedan in September. Lucid is up more than 360% year to date.
With a market cap above $1 trillion, it’s now worth more than Facebook, and is the fifth-most-valuable stock traded on a U.S. exchange. … With a market cap of over $55 billion, Lucid may look ridiculously overvalued for a company that’s barely begun making cars.
Its founder and CEO, Chinese billionaire Jia “YT” Yueting, also filed for bankruptcy in 2019. But Faraday Future now has new life – and capital – thanks to a SPAC deal with Property Solutions Acquisition Corp. that is providing the embattled automaker with $1 billion.
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