Lucid air stock free#
The PIPE transaction was done at $15 and the lock-up period expired today meaning investors in that deal are free to sell from today. Shares may bounce back once market participants realize easy money will keep coming. US stocks plummeted at the opening, although the three majors indeed managed to bounce ahead of the close, with the Nasdaq Composite adding 50 points. Such figures are hinting at a weak Nonfarm Payroll report. Wall Street was torn between softer-than-expected US employment figures, and hopes for another delay in tapering. The US ADP survey showed that the private sector added just 374K new jobs in August, while the ISM Manufacturing PMI employment sub-component contracted to 49 from 52.9. Update: Sept 1: NASDAQ:LCID shed 10.87% on Wednesday to finish the day at $17.79 per share. The main catalyst behind LCID’s collapse could be attributed to the expiry of the PIPE transaction, which allowed the liquidations now. The market sentiment soured after the US private sector ADP jobs data came in away below estimates, hinting at a dismal NFP print on Friday. The LCID stock recovered some ground and settled at $17.79, extending its bearish momentum into a sixth straight session.
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Update: Sept 2: NASDAQ: LCID staged an impressive bounce after falling as low as $16.17, although booked about an 11% loss on Wednesday. Compared to Lucid, Rivian is nearly ready to deliver its first shipment of vehicles, and is working on electric delivery vans that will be used almost exclusively by Amazon. The company, which is backed by Amazon (NASDAQ:AMZN), is seeking an $80 billion valuation, which is 350 times the valuation that Tesla had in its IPO back in 2010. LCID stock price forecastĮlectric truck and vehicle maker Rivian has officially filed for it U.S. Shares of Tesla were up 1.53% during Friday’s session. Earlier this year a cold snap left millions of Texans without power for days, so Tesla could be trying to take advantage of a vulnerable system. The move comes as Tesla began construction of a 100 megawatt energy storage system just outside of Houston. On Friday, the company officially applied to the Texas Public Utility Commission to sell electricity to Texans. Speaking of Tesla, the industry leader for electric vehicles continues to branch out its operations into other industries. Despite the glowing review, shares of Lucid have continued to slide as investors seem more interested in hearing about a concrete delivery date. Lucid Group is fresh off a review from MotorTrend that called its Air Dream Sedan a serious threat to brands like Tesla (NASDAQ:TSLA). On Friday, Lucid dipped a further 2.09% to close the trading week at $21.03. Shares of LCID fell a further 4.5% this week, and nearly 13% over the past month. NASDAQ:LCID is hitting a slippery slope, as the recently merged EV SPAC continues to decline. After the storm, the next moves depend on actual sales of critical shareholders and bargain-seeking by retail traders. Investors who bought the stock early in the year – when it was Churchill Capital Corp IV (CCIV) can also put a big smile on their faces – shares are up some 77% on the year. The expiry of the PIPE lockup period prompted a massive scale.
Lucid air stock update#
Update September 2: Shares of Lucid Motors Inc (NASDAQ: LCID) are changing hands at $17.95 in Thursday's premarket trading session – which is only a small consolation for traders who endured Wednesday's double-digit plunge.
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Lucid rival Tesla begins to look outside of the electric vehicle industry.
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NASDAQ:LCID shed ground, but may soon come back.