![]() Today, the company’s headquarters is located in Newark, California and the company employs roughly 3,900 people. Rawlinson was the chief engineer of the Tesla Model S, which gave Lucid Motors a proven leader in the industry. In 2019, Peter Rawlinson became CEO of the company. It still uses the Atieva brand for some battery technology work, as well. In 2016, the company changed its name to Lucid Motors and began working on electric cars. Initially, the company worked on providing battery technology for electric vehicle (EV) carmakers. A strategic thinker and fundamental public equity investor, Joanna leverages over 20 years of experience on Wall Street covering various segments of the Technology, Media, and Telecom sectors at several global investment banks, including Mizuho Securities and Canaccord Genuity.Lucid Motors was founded in 2007 by Sam Weng and Bernard Tse, a former Tesla executive, as Atieva. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Joanna Makris did not have (either directly or indirectly) any positions in the securities mentioned in this article. Your comments and feedback are always welcome. As such, I continue to recommend selling CCIV shares. But, for now, there is plenty of risk to CCIV shares as investors begin to more closely scrutinize Lucid’s manufacturing ramp. I expect CCIV to move sideways into the IPO transaction. Getting the manufacturing process right (and delivering products on time) will take more than cool design renderings. That said, it’s too early to take a position in CCIV at these levels. With EVs well-positioned to cannibalize a $5 trillion automobile market, there’s very little debate over long-term industry growth. Plenty of Time to Buy After CCIV Stock Resets Ultimately, none of this even matters considering Lucid still can’t commit to a production output of 22,000 EVs for next year. This is especially true considering that most Americans only drive about 30 miles per day on average.ĭemand for Tesla’s vehicles continues to accelerate with only a moderate range of approximately 275 to 300 miles per charge. Meanwhile, social chatter from retail investor bulls remains obsessed with the idea that the sudden cancellation of Tesla’s uber premium Model S Plaid+ edition is a big coup because it’s now the only sedan on the market with a range of more than 500 miles on a single charge. Pumpers Still Peddling Stale Drama Over Plaid+ Ī mix of bubble-like valuation, momentum and high short interest, at 26% of float - I think this is the end of the recent momentum rally in CCIV stock. Both of these companies are currently under SEC investigation. At a quick glance, the growing list of soon-to-be out-of-businesses includes once-popular EV truckmakers Lordstown Motors (NASDAQ: RIDE) and Nikola (NASDAQ: NKLA). Lucid also comes to market amid a backdrop of overpromising and under-delivering EV SPACs. After all, Lucid hasn’t affirmed previous production guidance for next year. I nvestors who may be spooked about CCIV’s lofty valuation should also remember that there’s no upcoming catalyst for the shares other than the transaction itself. As mentioned earlier, at these prices, Lucid would be valued at the same market capitalization as Tesla in early 2017. ![]() Lucid’s traditional auto counterparts Ford (NYSE: F) and General Motors (NYSE: GM) are worth $62 billion and $93 billion, respectively. But that’s comparing one pre-revenue, pre-IPO company to another pre-revenue, pre-IPO company. Compared to the $70 billion figure suggested for Rivian Automotive, Lucid looks like a steal. CCIV Stock: Steep Valuation Shatters the Momentum RallyĬCIV shareholders will have to decide for themselves whether a pre-production EV manufacturer garnering a $38 billion valuation is really worth it.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |