To invest in Lucid Motors, you need to start by opening an account with a broker. Whether you’re already a fan of the Lucid Air or simply believe in the future of electric vehicles, here’s how to buy Lucid Motors stock. Over the past three years, Lucid Motors has experienced substantial growth, and its stock price has increased by about 82%. ( TSLA) has gotten the lion’s share of attention for their luxury electric cars, there’s a newer competitor making waves: Lucid Motors. As of late April 2022, the national average is $4.11 a gallon, up from just $2.87 a year ago. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities.Electric vehicles have been gaining in popularity for years, and the trend has only strengthened with gas prices skyrocketing. He particularly enjoys creating model portfolios that stand the test of time. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. Will Ashworth has written about investments full-time since 2008. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines. On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. In the meantime, this lawsuit might be much ado about nothing. Any of those companies are miles ahead of Lucid. If I had to choose another relatively new EV manufacturer to invest in, I would bypass Lucid and look to China. Today, it’s anybody’s game to win, including Stellantis (NYSE: STLA), who plans to throw $35.6 billion over the next five years into low-emission vehicles. Only, in Tesla’s case, it didn’t have a whole whack of competitors nipping at its heels. InvestorPlace’s tech guru Dana Blankenhorn recently discussed the challenge ahead for Lucid suggesting it was about five years behind Tesla (NASDAQ: TSLA). I think Redditors are about to find out that appearances can be deceiving. After all, if the Public Investment Fund (PIF) believes in Rawlinson and company, why shouldn’t Reddit investors? Over at the r/lucidmotors subreddit page, the Redditors are slapping each other on the back for making such a blueblood investment. As a result, I would be cautious about buying LCID stock until the company provides further clarification. It’s rare to see a high-brow law firm having to sue a public company to get paid for services rendered. But usually, the suits revolve around the licensing of technology, etc. Should You Buy Given the Lawsuit?Ĭompanies, especially tech companies, face lawsuits all the time. But, given Saudi Arabia’s involvement, this could get real interesting. I find it hard to believe that a law firm with almost $3 billion in global revenue would file such a lawsuit if there weren’t actual merit to its case. The bad news is that it could shine a light on CEO Peter Rawlinson, the rest of the management team, and the board of directors.Īs BloombergLaw contributor Mike Leonard reported, Saudi Arabia’s sovereign wealth fund owns 60% of Lucid Group and stands to make more than $20 billion from its original $2.5 billion investment. If you are Michael Klein, the good news is that he and his affiliates weren’t named in the suit. If so, it’s indicative of a culture problem at the EV startup. Lucid can’t sweep this issue under the carpet. However, since early March, it’s traded in a fairly tight range between $20 and $30.Īny lawsuit for a newly-minted public company, especially one from a well-known global legal firm like Dentons, who most likely have some people within its firm to lean on for legal advice about compensation involving the issuance of shares and the transfer of shares, ought to be troubling to shareholders. All of it after the rumor news sent its share price to an all-time high of $64.86 in mid-February. In fact, LCID stock is up 145% year-to-date through Aug. They haven’t traded below $10 since then. The news of Lucid’s potential merger with Michael Klein’s fourth special purpose acquisition company (SPAC) first surfaced in early January. LCID Stock Has Traded Higher Since Original Merger Rumors
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