How Can I Buy Lucid Motors Stock?
Here's everything you need to know about Lucid Motors' SPAC deal with Churchill Capital and how you can buy shares in the EV company.
Aug. 11, 2021

When rumors began to circulate in January that U.S.-based SPAC (special purpose acquisition company) Churchill Capital Corp IV would be taking Lucid Motors (NASDAQ: LCID) public, its stock soared. Fast forward a few months, the SPAC deal represented the largest of its kind in history, collecting $4.5 billion in fresh capital. 

Investors are hoping that Lucid will use this money to become Tesla's (NASDAQ: TSLA) biggest domestic pure-play threat in the thriving EV market. 

How can I buy Lucid Motors stock?

You can buy Lucid Motors stock now under the ticker 'LCID' on the Nasdaq exchange. 

As a result of the merger, Churchill Capital and Lucid Motors were renamed Lucid Group and shares of CCIV switched over to the LCID ticker. Therefore, CCIV shares were delisted from the New York Stock Exchange when LCID stock started trading on the 26th of July.

Lucid Motors Financials

Like any niche sector startup, there's not a whole lot of cash to discuss here, and as Lucid Motors is yet to actually deliver vehicles, there's even less to go on. However, Lucid recently told shareholders that reservations for its vehicles have surpassed 11,000 which would equal almost $1 billion in potential sales. In addition, the company has reportedly built over 100 near-final quality versions of its Air Sudan model at its new factory in Arizona. Lucid has said that it will begin shipping out this model by the end of the year. 

Similar to how Tesla first started, it will get these upscale deliveries out the door and expects to begin production of cheaper models within the next year. 

According to Lucid, the company forecasts deliveries of 20,000 vehicles in 2022, generating sales of $2.2 billion, with revenue rising to $5.5 billion and $9.9 billion in 2023 and 2024, respectively. The company foresees positive earnings before interest, taxes, depreciation, and amortization of $592 million in 2024.

Should I buy Lucid Motors stock? 

"I really believe we've got the tech to pose competition (to Tesla) which is healthy," Lucid CEO Peter Rawlinson stated when announcing the SPAC deal in July. "This gives us a very secure runway into 2023, to get the factory ready for the advent of Gravity (Lucid's SUV project), and is giving us an absolute path to accelerate our trajectory."

These are fighting words, and though it is far too early to see exactly what kind of company Lucid Motors will be, there is clearly a lot of promise. However, reverse mergers are a subtle business, and don't forget that Nikola Motors (NASDAQ: NKLA) was one too, and we all saw how that turned out. 

When it comes to investing in newly public companies, it's always best to wait a couple of quarters and see how the land lies.

Do not miss out on investing in the growing EV market. Luckily, MyWallSt's got a shortlist of market-beating stocks in all industries so you can accumulate long-term wealth. Simply click here for free access today. 

MyWallSt operates a full disclosure policy. MyWallSt staff currently holds long positions in companies mentioned above. Read our full disclosure policy here

The Home of Successful Investing.

© 2023 MyWallSt Ltd. All rights reserved.







This website is operated by MyWallSt Ltd (“MyWallSt”). MyWallSt is a publisher and a technology platform, not a registered broker-dealer or registered investment adviser, and does not provide investment advice. All information provided by MyWallSt Limited is of a general nature for information and education purposes, and you should not construe any such information as investment advice. MyWallSt Limited does not take your specific needs, investment objectives or financial situation into consideration, and any investments mentioned may not be suitable for you. You should always carry out your own independent verification of facts and data before making any investment decisions, as we cannot guarantee the accuracy or completeness of any information we publish and any opinions that we publish may be wrong and may change at any time without notice. If you are unsure of any investment decision you should seek a professional financial advisor. MyWallSt Limited is not a registered investment adviser and we do not provide regulated investment advice or recommendations. MyWallSt Limited is not regulated by the Central Bank of Ireland. MyWallSt Limited may provide hyperlinks to web sites operated by third parties. Your use of third party web sites and content, including without limitation, your use of any information, data, advertising, products, or other materials on or available through such web sites, is at your own risk and is subject to the third parties' terms of use.