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What’s in Store for the Lucid (LCID) Stock Market in 2022?

What's in Store for the Lucid (LCID) Stock Market in 2022?

The Lucid Motors initial public offering (IPO) made its debut on July 26 when Churchill Capital Corp. IV brought the premium electric car leader to the public market in a highly anticipated initial public offering (IPO). Is Lucid Motors stock a good purchase right now, following the company’s fourth-quarter earnings announcement?

Lucid Motors Stock IPO

A special-purpose acquisition company (SPAC), Churchill Capital IV, said in February that it has agreed to buy Lucid Motors for $24 billion in cash, valuing the firm at $24 billion. Lucid Motors CEO Peter Rawlinson explained that the business is going public in order to “accelerate into the next phase of our growth.”

A SPAC, also known as a blank-check business, is a non-conventional initial public offering that can be used instead of a standard IPO. These “blank-check” corporations have no assets other than cash on hand. They trade on stock markets and subsequently combine with private corporations, so bringing such companies into the public eye.

Lucid Motors Stock Fundamental Analysis: The Lucid Air

As announced by the firm, Lucid Motors will begin delivering its Lucid Air luxury electric vehicle sedan in late October 2021. The Lucid Air is a high-performance and ultra efficient premium electric vehicle sedan. Gravity, the company’s high-performance luxury SUV, is expected to hit the market in 2023. The Lucid Air went into production in late September, according to the company.

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Lucid Motors advertised more than 10,000 bookings for the Lucid Air in a presentation deck filed with the Securities and Exchange Commission of the United States on July 13th, representing an estimated $900 million in projected sales. It claims that the Air outperforms both the Tesla Model S and the R1T from Amazon-backed EV startup Rivian in terms of battery efficiency, which it refers to as the “ultimate benchmark of electric vehicle technology.” It also says that the Air outperforms expensive electric vehicles like Jaguar, Porsche, and Audi in this regard.

Lucid boasts about its own EV technology, which it developed in-house. It claims that the Lucid Air is the “quickest, longest-range, and fastest-charging electric car in the world,” with a range of 500 miles. That range has not been approved by the Environmental Protection Agency as of yet. High-end elements like as a “glass cockpit” are also included in the Air’s design. The Lucid Air is equipped with an automated driving system that employs 32 sensors, including long-distance Lidar, a safety technology that Tesla has previously ignored.

A fully outfitted Air will cost around $160,000, including federal incentives, when it is first introduced. According to the Wall Street Journal, lower-priced variants will be introduced, with a $70,000 model slated to hit the market in 2022.

LCID Stock Technical Analysis

The stock of LCID is trading roughly 60% below its all-time high. On Nov. 17, the stock jumped more than 100 percent beyond a 28.49 purchase price in a cup-with-handle base, but the gains were quickly wiped out by the market. The stock has fallen significantly below its 50-day moving average and is currently trading below its long-term 200-day moving average.

IBD Stock Checkup indicates that Lucid Motors stock has a poor 35 out of a perfect 99 IBD Composite Rating, according to the company. The Composite Rating is a tool that allows investors to quickly assess the fundamental and technical characteristics of a stock. It is usual for new issues to have low IBD Composite Ratings.

Lucid Motors Stock News

Lucid Motors shareholders voted on July 23 to approve the merging of the blank check firm with Lucid Motors.

Following a series of setbacks, the business announced in mid-July that it had completed its preproduction phase. According to Bloomberg, CEO Peter Rawlinson stated on the conference call that “the testing and validation of Lucid Air is moving nicely.” “It is on schedule for a commencement of production for client deliveries in the second half of 2021,” says the company.

On September 1, the lock-up period for PIPE (private investment in public equity) investors came to an end, allowing them to sell their holdings in the company. A almost 11 percent drop in the stock price followed as a result.

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On September 16, the business announced that its Lucid Air vehicle has obtained an EPA range rating of 520 miles. It has a greater range than the Tesla Model S Long Range by more than 100 miles, which is impressive.

The business’s first premium lcid stock Air cars went off the manufacturing line in Arizona on September 29th, the company said. Lucid anticipates that reservation holders for Lucid Air Dream Edition cars would begin getting their vehicles in late October, according to the company. It has received more than 13,000 bookings for the Lucid Air, and the firm has boosted the anticipated total manufacturing number of the Dream Edition to 520 vehicles, according to the company.

According to Reuters, the CEO of Lucid Air, Peter Rawlinson, stated on October 21 that the company will introduce Lucid Air electric cars in the Middle East and Europe next year, with a launch in China following in 2023.

A set of Lucid Air Dream Edition reservation holders received their vehicles on October 30th, according to the company.

On Dec. 6, the business said that the Securities and Exchange Commission had sought information linked to an investigation into its blank-check arrangement with Churchill Capital, which had been ongoing since 2011.

Lucid shares plummeted more than 18 percent after the firm revealed its intention to raise $1.75 billion in convertible senior notes on Dec. 9, according to Bloomberg.

The Lucid Air was selected the “Green Car Reports Best Car To Buy 2022” on Jan. 3, according to Green Car Reports. The stock of Lucid increased by more than 7 percent.

LCID Stock Institutional Holdings

Ownership Summary

Label Value
Institutional Ownership 69.43 %
Total Shares Outstanding (millions) 1,653
Total Value of Holdings (millions) $28,881

Active Positions

ACTIVE POSITIONS HOLDERS SHARES
Increased Positions 315 66,435,906
Decreased Positions 124 53,730,948
Held Positions 35 1,027,712,657
Total Institutional Shares 474 1,147,879,511

New and Sold Out Positions

ACTIVE POSITIONS HOLDERS SHARES
New Positions 211 37,698,013
Sold Out Positions 66 27,816,185

What Will Lucid Stock Be Worth In 5 Years

In one year, the price of the LCID stock may rise to 58.121 USD.

LCID (“LCID”) projected stock price will be 119.160 USD in 5 years, according to the company.

In one year, the long-term earning potential is 7.44 percent higher than the short-term earning potential.

A long time ago, retail traders were enticed to electric car stocks, and some have gone public through a blank-check vehicle known as a SPAC, which has attracted even more retail traders in recent years.

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CEO Peter Rawlinson said in a phone interview Monday night that the electric vehicle industry still has a long way to go before its market worth and share price surpasses that of traditional manufacturers, and eventually becomes more valuable than the company that invented the automobile.

Rawlinson, a former executive at Tesla, routinely compares Lucid to his former employer when discussing in-house innovations and the future of electric autos, according to Rawlinson. According to him and Lucid’s chief financial officer Sherry House, the company’s recent stock surge is proof that Wall Street is already treating the company more like Tesla than like a traditional carmaker.

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