Retail traders have long been drawn to EV stocks, and several have gone public with a blank-check vehicle known as a SPAC a move that attracts even more retail traders. Data source: S&P Capital IQ. See:https://seekingalpha.com/article/4578688-seeking-alpha-contributor-community-2022-by-the-numbers. Therefore Lucid expects to match Tesla's stupendous capacity ramp over the last five years, but for eight immaculate years. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. We have no experience to date in high volume manufacture of our vehicles. Lucid will have a lot to prove to demonstrate operating leverage as it scales. In 2018, the Public Investment Fund of Saudi Arabia invested $1 billion in Lucid Motors. A photo of the Lucid Motors Air EV from 2018. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Tesla's annual shipments rose from 22,477 vehicles in 2013 to 499,550 vehicles in 2020. Lucid specializes in designing, engineering, and constructing electric vehicles, EV powertrains and battery systems. As a former Tesla executive, Rawlinson often compares Lucid to his old company when discussing in-house technologies and the future of electric cars. And if those gains are as large as we expect, LCID stock will power much higher. The three analysts who have offered 12-month price forecasts for Lucid Group Inc. have a median target of 57.00, with a maximum estimate of 60.00 and a minimum estimate of 16.00. In terms of brand and technology, it will be in a class all its own. It expects its annual shipments to nearly double to 500,000 by 2030. Its Stock Is Diving. In the same quarter last year, Lucid Group's revenue was $334.00 thousand. Therefore, investors should be circumspect about taking managment's projections at face value, considering an investment with caution and weighting the risks accordingly. With an SEC investigation on its SPAC merger with the Churchill group and bearish conditions in the broader EV market, Lucid stock has lost over 50% of its stock value since the start of this year. January 8, 2023 by Daryl Ellis. Itay Michaeli, from Citi Group, set a $57 price target on LCID stock . Lucid Motors Stock Prediction 2025: 936% Revenue Growth - Money Morning
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