Send me real-time posts from this site at my email
Motley Fool

Why Lucid Group Stock Roared Ahead Today

What happened

Excitement has been growing over electric vehicle start-up -- and potential strong Tesla competitor -- Lucid Group (NASDAQ: LCID) as it gets closer to shipping its first vehicles. Today the company announced that will begin this Saturday, and the stock popped 10%. At 11:05 a.m. EDT, shares had given up some of those gains but remained up 5.3%.

So what

Lucid isn't simply delivering its first Air Dream Edition electric sedans this weekend. It is also holding a rally for the new owners hosted by Lucid leadership "on a route that showcases the vehicle's standout ride, handling, and performance capabilities," the company said.

Interior of Lucid Air electric sedan. Image source: Lucid Group.

Now what

Lucid expects to produce 520 of its Air Dream Edition vehicles at $169,000 each. They come in two versions -- Range and Performance. The Range editions can reach 520 miles on a single battery charge. That range significantly beats the Tesla Model S Plaid's, which is listed at 396 miles.

Lucid's Dream Performance model has a maximum range of 471 miles, but with higher horsepower than the Range, it can go from zero to 60 in 2.42 seconds. Lucid will use the launch and rally to continue to stir interest in its brand. The rally will be held through the California countryside and will be covered on Lucid's social media channels. Based on today's stock reaction, there will likely be plenty of followers.

10 stocks we like better than Lucid Group, Inc.
When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*

They just revealed what they believe are the ten best stocks for investors to buy right now... and Lucid Group, Inc. wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

*Stock Advisor returns as of October 20, 2021

Howard Smith owns shares of Lucid Group, Inc. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.


Source

Popular posts

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue