The Lucid Motors IPO is acceptable for Monday, arsenic Churchill Capital Corp. IV prepares to instrumentality the luxury electric-vehicle person nationalist successful a highly anticipated debut. Would Lucid Motors banal beryllium a bargain close astatine the IPO?
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Lucid Motors Stock IPO
In February, Churchill Capital IV (CCIV) — a special-purpose acquisition institution (SPAC) — announced a woody to instrumentality Lucid Motors public, valuing the institution astatine $24 billion. The institution is going nationalist "to accelerate into the adjacent signifier of our growth," Lucid Motors CEO Peter Rawlinson said.
A SPAC, besides known arsenic a blank-check company, is an alternate to a accepted archetypal nationalist offering. These blank-check companies person nary assets beyond cash. They commercialized connected banal exchanges and past merge with backstage companies, taking those companies public.
Shareholders voted aboriginal Friday to o.k. the merger of the blank-check company. Lucid Motors banal volition statesman trading Monday nether the ticker awesome LCID connected the NYSE.
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Lucid Motors Stock Fundamental Analysis: The Lucid Air
Lucid Motors is connected gait to commencement delivering its Lucid Air — a high-performance, ultraefficient luxury EV sedan — successful precocious 2021, according to the company. The institution expects to rotation retired its Gravity show luxury SUV successful 2023. The Lucid Air has not yet started production, but has conscionable completed its preproduction phase.
In a descent platform filed with the U.S. Securities and Exchange Commission July 13, Lucid Motors touted much than 10,000 reservations for the Lucid Air, representing $900 cardinal successful anticipated sales. It claimed the Air beats the Tesla Model S and Amazon-backed EV startup Rivian's R1T successful artillery efficiency, which it calls the eventual measurement of EV technology. It besides claims the Air beats luxury EVs from Jaguar, Porsche and Audi connected that metric.
Lucid touts EV exertion it developed in-house. It describes the Lucid Air arsenic the "quickest, longest-range, fastest-charging electrical car successful the world," delivering 500 miles of range. The Environmental Protection Agency hasn't certified that scope yet. The Air besides boasts high-end features specified arsenic a "glass cockpit." The Lucid Air features an autonomous driving strategy utilizing 32 sensors, including long-distance Lidar, a information exertion that Tesla agelong avoided.
The archetypal afloat loaded Air volition outgo astir $160,000, including national subsidies. Cheaper versions volition beryllium released, with a $70,000 mentation expected successful 2022, according to the Wall Street Journal.
LCID Stock Technical Analysis
LCID stock, presently trading nether the SPAC Churchill Capital IV, is trading much than 60% disconnected its highs. Shares could beryllium forming the close broadside of a heavy base, but determination is nary close bargain constituent successful sight. Keep an oculus retired for a caller basal to form, which would connection the stock's adjacent buy point. Lucid, though, volition commercialized nether its ain awesome with the IPO.
According to the IBD Stock Checkup, Lucid Motors stock shows a anemic 34 retired of a cleanable 99 IBD Composite Rating. The Composite Rating helps investors easy measurement a stock's cardinal and method metrics. Weak IBD Composite Ratings are mean for caller issues.
Lucid Motors Stock News
On Friday, Lucid Motors shareholders voted to o.k. the merger of the blank cheque company.
In mid-July, the institution said it had finished its preproduction signifier aft a bid of delays. "The investigating and validation of Lucid Air is progressing well," CEO Peter Rawlinson said connected the call, according to Bloomberg. "It's connected way for the 2nd fractional of 2021 commencement of accumulation for lawsuit deliveries."
Is Lucid Motors Stock A Buy Right Now?
Churchill Capital banal rallied astir 1% Friday pursuing the shareholder approval.
Lucid Motors banal is simply a promising semipermanent EV stock that is acceptable to commencement deliveries of its archetypal electrical conveyance successful precocious 2021. Shares of Churchill Capital IV, which is taking Lucid Motors public, are acold from a due bargain point, truthful the banal is not a bargain close now. Keep a adjacent oculus connected the banal to spot if it builds the close broadside of a heavy base, which would connection a caller entry.
Best EV Stocks To Buy And Watch: Nio, Tesla
Among the best EV stocks to bargain and watch, Tesla (TSLA) is trading conscionable supra its cardinal 50- and 200-day moving mean lines. Tesla stock is an IBD Leaderboard idea. Per Leaderboard analysis, "Tesla precocious recovered enactment astatine the 40-week enactment connected its play chart, and present it's spending immoderate clip supra its 10-week moving average. These are encouraging signs."
Another EV banal to ticker is Chinese person Nio (NIO). Nio stock is forming a heavy cupful with grip that shows a 55.23 bargain point. Shares are astir 30% disconnected their 52-week high.
For much starring stocks and stocks approaching bargain points, cheque retired these IBD Stock Lists, similar the Stocks Near Buy Zones. To spot the existent banal marketplace trend, cheque retired IBD's signature regular analysis, The Big Picture.
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