Lucid Group, Inc. (LCID) made it’s debut as a publicly traded company on July 26, 2021.
The relatively new luxury electric vehicle maker is positioning itself to compete with the higher-end EV makers like Tesla, Inc. (TSLA), Porsche, and BMW.
And although it has yet to release its first model to the market, Lucid’s vehicles are already taking superlatives away from the most well-known and established automakers in the business.
Last week, one of Lucid’s upcoming vehicle models was given the highest rating to date in what is perhaps the most important aspect of any electric vehicle.
The news sent LCID shares soaring, and could mean big things for the company once their vehicles start hitting the road.
On Thursday, the Environmental Protection Agency released its official range rating for Lucid Motors’ Air sedan.
The EPA found that the Air can travel up to 520 miles on a single battery charge.
That figure is incredibly significant because it vaults Lucid past Tesla for the longest vehicle range of any EV – a title that Tesla has held for years.
When considering which EV to buy, consumers want a vehicle that can travel far on a single charge. Given how long EVs currently take to charge, they want a car that can go a long way for that time as a trade-off.
Now that Lucid has claimed that title, there’s sure to be a huge amount of anticipation for its first vehicle’s release – which is now expected as soon as this October.
Following the news, shares of LCID jumped as much as 15%.
I’m incredibly bullish on the EV industry in the coming months and years, and Lucid Motors is setting itself up to be one of the biggest players in the space.
Trading tip of the week
There’s a lot of talk out there right now about a coming market correction.
A trader should like when the stock market goes down, so they can get into stocks cheaper.
Traders usually freak out when stocks go down, but they should view them as being on sale, making it a better time to get long.
So instead of looking at a market dip as a negative, see it instead for the buying opportunities it presents.
Earnings report to watch
AutoZone, Inc. (AZO) – which operates car parts and accessories stores throughout the U.S., Mexico, and Brazil – reports its latest earning on Tuesday, September 21 before the opening bell.
Shares of AZO have been on a tear lately, rising nearly 6% since the start of September.
But there is concern among analysts that AZO is likely to report a decline in earnings in the latest quarter.
AZO has made several big moves up this year on strong reports, but with the stock at these levels, any beat of analysts’ expectations would have to be big in order to push the stock further.
This is a name I’d rather avoid buying ahead of earnings.
Tiny EV Company Aims to Shoot Up 10-Fold in the Next 12 Months
We just got the scoop on a $3 stock that could IPO on the Nasdaq soon.
This tiny EV stock has risen 10-fold within the past year. But its incredible run has just begun. As soon as this stock hits the Nasdaq, it could make another historic run upward. Not up to $5, $10, or even $15 – but it could rise to well over $20 per share…
What does that mean for you? Well, the biggest returns will go to those investors who get in NOW.