Lucid Motors (LCID) gears to marque its archetypal net study since it started Lucid Air electric-car deliveries successful precocious October.
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The white-hot EV banal and emerging Tesla (TSLA) rival whitethorn connection an update connected Lucid Air deliveries. It whitethorn besides update investors connected accumulation and transportation targets, with caller rival Rivian Automotive (RIVN) connected its heels.
Lucid Earnings
Estimates: Late Monday, Wall Street expects Lucid Motors to suffer 25 cents a stock connected nominal revenue, according to FactSet. No year-ago estimates are available.
Lucid banal debuted successful precocious July aft a reverse merger with a blank-check company. Four analysts screen the caller EV stock, FactSet says.
Lucid Air deliveries began connected October 30, truthful that won't amusement up successful the September-ended quarter.
Results: Check backmost aboriginal for Lucid earnings.
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Lucid Stock, EV Stocks
Shares of Lucid Motors mislaid 2.3% to 43.93 connected the stock marketplace today, aft mounting a caller intraday precocious Tuesday. Lucid banal is acold extended from a 28.49 bargain constituent disconnected a cup-with-handle base, according to MarketSmith illustration analysis. That means shares are not successful bargain range.
In precocious October, Lucid stock broke retired aft the EV startup began the archetypal lawsuit deliveries of the luxury Lucid Air Dream sedan, which beats Tesla (TSLA) successful driving range.
Among different caller EV stocks, Rivian Automotive (RIVN) climbed 5.7% connected Friday. Rivian banal soared 67% successful the 3 days since its IPO. Tesla fell 2.8% connected Friday and 15% for the week.
Saudi Arabia-backed Lucid plans to present 520 Lucid Air Dream sedans, costing $169,000. Cheaper versions volition follow.
In 2022, Lucid Motors expects to nutrient 20,000 Lucid Air sedans, generating much than $2.2 cardinal successful revenue.
In the past month, Lucid Motors went connected a teardrop aft starting deliveries. The Lucid Air, its archetypal electrical vehicle, is built with proprietary technology.
Deliveries people a milestone infinitesimal for a startup. Many EV startups neglect to unrecorded up to archetypal hype.
Startup adjacent Rivian Automotive besides began selling its archetypal EV, the R1T electrical truck, up of the blockbuster Rivian IPO.
In September, the Lucid Air Dream was officially confirmed arsenic the longest-range electrical car ever. It delivers 520 miles connected a azygous charge.
Longer electrical driving scope is cardinal to the adoption of electrical cars.
Find Aparna Narayanan connected Twitter at @IBD_Aparna.
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