Lucid Group Inc
Change company Symbol lookup
Select an option...
LCID Lucid Group Inc
KIO KKR Income Opportunities Fund
BOAS BOA Acquisition Corp
ESBA Empire State Realty OP LP
ASGN ASGN Inc
CMS CMS Energy Corp
POWRU Powered Brands
VLDRW Velodyne Lidar Equity Warrants Exp 29 Sep 2025 *W EXP 09/29/2025
JPM JPMorgan Chase & Co
UVV Universal Corp
Go

Consumer Discretionary : Automobiles |
Company profile

Lucid Group Inc, formerly Churchill Capital IV Corp, is engaged in manufacturing electric vehicles (EV). The Company’s car, Lucid Air, is a sedan. It features interior space in a mid-size exterior footprint. It uses electric vehicle technology for each type of car it builds. Its EV cars have a horsepower of approximately 1,080 and a range of approximately 500 miles per charge. The Company’s Lucid application provides an in-car experience. It offers Air Dream Edition, Air Grand Touring, Air Touring and Air Pure. The Company’s studios and service centers are located across California, Florida, Michigan, Illinois, New York City, Massachusetts, Washington, Arizona, Canada, Virginia, Texas and Colorado.

Premarket

Last Trade
Delayed
$28.32
-0.38 (-1.32%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$28.70
Day's Change
0.00 (0.00%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
--
Day's Low
--
Volume
(Light)
Volume:
400,368

10-day average volume:
41,187,789
400,368

A new Big Three? Rivian and Lucid's valuations are accelerating past Ford, GM

7:13 am ET November 17, 2021 (MarketWatch)
Print

By Claudia Assis

Rivian, Lucid pass Ford as the hunt for the next Tesla continues

Rivian Automotive Inc.'s market valuation is already nearly double that of Ford Motor Co. and zoomed past General Motors Co. a week into the electric-vehicle startup's life as a public company, while rival Lucid Motors' market value closed in on GM's and topped Ford's on Tuesday, underscoring investors' appetite for EV makers and the hunt for the next Tesla Inc.

Rivian went public last Tuesday after the biggest initial public offering of the year and seventh-largest U.S. IPO since the mid-1990s. The stock ended 15% higher on Tuesday, boosting the company's valuation to a little over $148 billion.

That compares to Ford's (F) valuation of around $78 billion and GM's (GM) at about $91 billion on Tuesday. Tesla (TSLA) is the highest-valued auto maker in the U.S., at a market capitalization that's above $1 trillion.

Rivian stock has gained 61% since its first trade of $106.75 last week, and is 121% above its IPO price of $78.

See also: Rivian IPO: 5 things to know about the Amazon-, Ford-backed electric-vehicle maker

Lucid shares (LCID) jumped 24% to close at $55.52 on Tuesday, pushing the EV maker's valuation to slightly under $89 billion. That was the stock's highest close since Feb. 22, when it closed at $57.37.

Lucid, which has been hailed as the "Tesla/Ferrari" of EVs and focuses on the high-end market, went public through a blank-check company deal and the stock started trading on the Nasdaq in July. The EV maker said Monday its orders rose 30%, with "significant" demand for its Lucid Air luxury EV.

Related: Billions of dollars in infrastructure bill for charging could supercharge electric vehicle adoption

Rivian already has delivered a few limited-edition R1Ts, its two-row, five-seat pickup truck, and plans to launch an SUV, the R1S, in December. Volume sales of the pickup and the SUV are expected to begin in December and January.

Rivian markets its vehicles as "electric adventure vehicles" with prices starting in the low $70,000s, which has led some to question the size of its market, with cheaper electric pickups, including Ford's Lightning F-150, slated for release next year.

Read more:More electric pickup trucks are coming to market. The question now is who will buy them?

The Ford Lightning is expected to start at about $40,000, and the cachet of being the electric version of the U.S. best-selling vehicle for decades comes free of charge. GM plans to unveil an electric Silverado next year as well.

-Claudia Assis

	

(END) Dow Jones Newswires

November 17, 2021 07:13 ET (12:13 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Earnings Calendar and Events Data provided by |Terms of Use| © 2022 Wall Street Horizon, Inc.

Market data accompanied by is delayed by at least 15 minutes for NASDAQ, NYSE MKT, NYSE, and options. Duration of the delay for other exchanges varies.
Market data and information provided by Morningstar.

Options are not suitable for all investors as the special risks inherent to options trading may expose investors to potentially rapid and substantial losses.
Please read Characteristics and Risks of Standard Options before investing in options.

Information and news provided by ,, , Computrade Systems, Inc., ,, and

Copyright © 2022. All rights reserved.