However, the events of December are likely to be temporary challenges.
No matter the outcome of the SEC probe, there’s a good chance of further volatility ahead. Should you take advantage of the situation and buy some Lucid shares on the dip? Clearly, investing in the company is not risk-free. Despite that area of concern, at this point, LCID still earns a “B” Total grade. So, how does it rate in Portfolio Grader? Recent events that have pushed LCID stock down have contributed to a “D” Fundamental grade. Overall, investment analysts are a little more cautious about Lucid these days. Additionally, the move adds an aura of legitimacy to Lucid Motors and opens up Lucid shares to consideration by index funds. This is good news and resulted in another bump for LCID stock. In turn, LCID stock got a lift.Īdditionally, the latest development saw Lucid join the Nasdaq-100 index. The combination of a low interest rate and the fact that if the buyers choose to convert their money into Lucid shares it would be at the rate of $54.78 per share buoyed investors. The company announced $1.75 billion in convertible senior notes at a 1.25% interest rate. Recently, LCID stock’s three-day rally began on Dec. 9, Lucid stock had bottomed out at $36.52 - its lowest close since Nov. And while this is a tiny fraction of his holdings, the move spooked the market.īy Dec. Lucid received a subpoena from the SEC, with the probe reportedly centered on the company’s $4 billion July SPAC with Churchill Capital.Īdding to the pressure on LCID stock, December also included the news that company CEO Peter Rawlinson was selling nearly 467,000 shares. 6 that it was the subject of an SEC probe. The losses gained steam when news broke on Dec. 15, Lucid Air named Motor Trend’s 2022 Car of the YearĪfter weeks of gains, Lucid shares began to slide at the end of November in a correction. 15, Lucid Q3 earnings highlights include $4.8 billion cash on the balance sheet and Lucid Air reservations at 17,000 27, Lucid confirms first customer deliveries at Oct. 28, Lucid Air production begins in Arizona, reservations top 13,000 21, the EPA confirms Lucid Air Dream Edition R range of 520 miles, the longest ever for an EPA-rated EV Highlights of Lucid’s winning streak include:
#Lucid stock series
LCID stock started an impressive run in the fall, as a series of big milestones resulted in shares gaining over 125% in a period of six weeks. With all of that in mind, though, here’s what you need to know if you’re considering adding LCID shares to your portfolio. That offers significant upside if it recovers, not to mention long-term growth potential should Lucid live up to expectations. Thus, the question is whether this should be considered an opportunity to snap up shares in the company at a great price.Īs a result of this dip, LCID stock is currently priced at early November levels. Recent events involving Lucid have dampened the enthusiasm over this luxury electric vehicle (EV) maker just as it was gaining momentum. Nonetheless, over the past three days, shares staged a quick three-day rally before eventually falling again. Securities and Exchange Commission (SEC) into the special purpose acquisition company (SPAC) deal that took the company public earlier this year, LCID is down about 30% in December. And with shockers like an investigation by the U.S.
However, December has been a dumpster fire in comparison.
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