LCID - Lucid Group, Inc. - NASDAQ

[NeHuskerz]

Good morning, Doc.
LCID seems to have found a bottom and working its way back up.
What are your thoughts?
https://schrts.co/ZVQtjpcw
https://www.tradingview.com/chart/szJuFBTW/?symbol=NASDAQ%3ALCID

[Dr PennyStock]

Good morning NeHuskerz,

Please enable chart layout sharing on your Tradingview account. You can do it clicking the arrow on the right side of your username, on top, and then enable "Sharing On". This way I will be able to see the chart.

About LCID, I agree, it has found a bottom, but, still needs confirmation. Maybe 17.21 will be the confirmation, but, only tomorrow we will know.

[Smitty]

DJ EV Start-Ups Need Cash. Lucid Is Getting More From Saudi Arabia. -- Barrons.com
10:46 AM ET 5/19/22 | Dow Jones

Al Root


The electric-vehicle start-up Lucid Group is getting more cash from Saudi Arabia, and its stock is jumping.

On Wednesday, Lucid (ticker: LCID) announced financing and incentives for up to $3.4 billion from entities controlled by the Saudi government over the next 15 years to build and operate a manufacturing plant in the country.

Investors seem recognize that more cash is a good thing. Lucid stock surged 9.1% in recent trading Thursday. The S&P 500 and Dow Jones Industrial Average were down about 0.8% and 1.2%, respectively.

"I'm delighted this brand-new manufacturing facility will come to fruition here in Saudi Arabia," said Lucid CEO Peter Rawlinson in a company news release. "We are thrilled to be supporting Saudi Arabia in achieving its sustainability goals and net-zero ambitions, as outlined in Saudi Vision 2030 and the Saudi Green Initiative."

Saudi Arabia owns more than 60% of the stock in the EV start-up and has also agreed to purchase up to 100,000 Lucid EVs over the coming 10 years. The plant going up in the country will have an initial capacity to make about 155,000 vehicles a year.

This will be Lucid's second manufacturing plant; the first is in Arizona.

Lucid has a lot of cash, but making cars consumes a lot of capital. Lucid ended the first quarter with about $5.4 billion on its balance sheet. That makes it one of the best-capitalized EV start-ups -- Rivian Automotive (RIVN) is the only EV start-up tracked by Barron's with more cash. Rivian ended the first quarter with about $17 billion.

Lucid's amount is easily enough to fund the company for a couple of years, but investors shouldn't get too comfortable with any EV company's cash position. Between 2007 and 2019, Tesla (TSLA) burned through about $9 billion before it started generating positive free cash flow on a consistent basis.

Coming into Thursday trading, Lucid stock was down about 54% so far this year. Investors, amid the market selloff, have shunned companies that burn cash. What's more, they are worried about inflation cooling off demand for new cars while higher costs squeeze auto makers' profit margins.

Write to Al Root at [email protected]

   


> Dow Jones Newswires

May 19, 2022 10:46 ET (14:46 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.

[Dr PennyStock]

More good news:

EV maker Lucid to accelerate plans with its Saudi Arabia factory, its first outside the U.S.

Key Points

• The manufacturing facility will be able to produce 155,000 vehicles a year, and will initially serve the local market, the luxury car maker said in a press release.

• Including the 350,000 units a year that can be made in Lucid’s factory in Arizona, the company will be able to produce half a million cars a year by the middle of the decade, earlier than its previous target of 2030, said CEO Peter Rawlinson.
  

• Saudi Arabia’s minister of investment, Khalid al-Falih, said he expects more EV manufacturers to set up shop in the kingdom.

U.S. electric vehicle maker Lucid Group will set up its first overseas factory in Saudi Arabia, the company has announced.

The manufacturing facility will be able to produce 155,000 vehicles a year, and will initially serve the local market, the luxury car maker said in a press release Wednesday. The vehicles will later be exported to global markets.

Lucid’s factory in Arizona can produce 350,000 units a year.

“That means we can accelerate plans to produce half a million cars a year from what was going to be 2030, to mid decade,” CEO Peter Rawlinson told CNBC’s Hadley Gamble. “And that’s really important because the planet can’t wait.”

The ongoing energy crisis “really just fuels the transition to battery electric vehicles,” said Rawlinson.

“The demand is now multiplying,” he said.


EV industry ambitions

Saudi Arabia’s minister of investment, Khalid al-Falih, said the Lucid factory is just the beginning.

“I believe it unleashes the whole industry of electric vehicles here in the kingdom, our intent is not to stop with Lucid,” he told CNBC’s Hadley Gamble.

“We have other EV manufacturers that are in advanced discussions with us that will follow in the footsteps of Lucid,” he added.

Saudi Arabia also wants EV battery companies, suppliers and more to set up shop in the country, which could create 30,000 jobs, he said.

“We believe, like I said, that this is a catalytic investment decision … it’s a magnet that will attract a lot of other investors,” al-Falih said.

Lucid’s Rawlinson said the company would want to produce more than electric cars in Saudi Arabia, and pointed to energy storage systems that could be linked to solar photovoltaic farms.

“This technology is ideal for this part of the world,” he said. “Because remember, when the oil runs out, the sun will keep shining.”

As of 2021, Saudi Arabia was the world’s second largest producer of oil, according to the U.S. Energy Information Administration. It also has 297.5 billion barrels in oil reserves, second only to Venezuela, a World Population Review ranking said.

The kingdom’s state oil company, Aramco, saw its net income spike 82% to $39.5 billion in the first quarter of 2022.

Al-Falih said the world still needs to invest in both fossil fuels and renewables to make the energy transition as smooth as possible.

He said Saudi Arabia is committed to its shift from traditional fuels to cleaner energy, citing the kingdom’s green initiatives.


Source: https://www.cnbc.com/2022/05/19/lucid-group-to-build-first-factory-outside-the-us-in-saudi-arabia.html

[Dr PennyStock]

LCID has support at 17.35 - 17.07.

[Dr PennyStock]

LCID confirmed a double bottom intraday.

[Smitty]

Lucid Announces $1.0B Revolving Credit Facility
9:00 AM ET 6/15/22 | Dow Jones

NEWARK, Calif., June 15, 2022 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID) ("Lucid"), setting new standards with the longest-range, fastest-charging electric car on the market, today announced entry into a Credit Agreement (the "Credit Agreement") on June 9, 2022. Bank of America, N.A. is the administrative agent and swingline lender on the transaction. Other lenders in the initial bank syndicate include Citigroup; Barclays Bank PLC; Goldman Sachs Bank USA; JPMorgan Chase Bank N.A.; BNP Paribas; Royal Bank of Canada, Capital Markets; HSBC Bank USA, N.A.; MUFG Bank, Ltd.; Sumitomo Mitsui Banking Corporation; and Wells Fargo Bank, N.A. This world-class syndicate of banks is providing a secured asset-based revolving credit facility with an initial committed amount of up to $1.0 billion (the "ABL Credit Facility").

"We are pleased to complete this credit facility with an exceptional syndicate of banks, which illustrates our ability to access alternative forms of financing and provides us with further financial flexibility to scale our business," said Sherry House, Lucid's CFO. "We ended the first quarter of 2022 with close to $5.4 billion of cash on hand, which we expect will fund us well into 2023. We remain committed to scaling our business and are executing against our strategic objectives."

Certain terms and covenants contained in the new ABL Credit Facility are summarized below:

   -- Provides revolving credit under the facility with an initial committed
      amount of up to $1.0 billion, with availability based on the value of
      certain eligible assets included in the borrowing base from time to time,
      and includes a $350.0 million sublimit for letters of credit and a $100.0
      million sublimit for swingline loans.
 
   -- Provides for uncommitted incremental revolving commitments of up to an
      additional $500.0 million, plus certain other amounts, in each case
      subject to obtaining the commitments from lenders providing such
      incremental commitments.
 
   -- The ABL Credit Facility has a stated term of five years, maturing on June
      9, 2027.

[Smitty]

Lucid Motors Opens First Retail Studio in the State of Colorado, the Denver Studio at Cherry Creek Shopping Center
9:00 AM ET 6/17/22 | Dow Jones

Denver Grand Opening to take place on Saturday, June 18 at 10 a.m. MDT.

NEWARK, Calif., June 17, 2022 /PRNewswire/ -- Lucid Group, Inc. (NASDAQ: LCID), setting new standards with the longest range, fastest charging electric car on the market, today announced the official opening of its first Studio location in Denver, CO at the Cherry Creek Shopping Center. This Studio opening marks 27 Studio and service center locations open in North America. The Lucid Studio in Cherry Creek will be open to the public starting on Saturday, June 18.

"The state of Colorado's ambitious plans to support the acceleration of widespread electrification closely align with our mission to inspire the adoption of electric vehicles," said Zak Edson, Lucid's Vice President of Sales and Service. "The new Lucid Studio in Cherry Creek will provide excellent exposure to the Lucid Air in an area quickly growing in electric vehicle sales."

Studio Experience

Every Lucid Studio offers a digitally oriented luxury experience tailored to each customer's preferences, whether they visit in-person, make inquiries entirely online, or combine the two. Lucid Studios allow customers to experience the brand and obtain information about its products in locations that underscore the company's unique design aesthetic. Visitors who explore a Lucid Studio will get a vision of how the company draws inspiration from the beauty, innovation, and diversity of its home state of California. In addition, Lucid Studios augment the physical experience of seeing and touching a Lucid Air with an elevated digital experience. Using a 4K VR configurator, Lucid's Virtual Reality Experience combines the physical and virtual worlds to showcase seamless personalization of everything from interior finishes and materials to exterior color.

Virtual Tour

For those customers who aren't able to visit a Lucid Studio, there is Lucid Studio Live, a private virtual tour that lets customers browse and build their dream car with the guidance of a Lucid team member. Each one-to-one appointment allows plenty of time for questions and offers an incredible 360deg look at Lucid Air. Customers can see everything from views inside the cabin, into the trunk and frunk, to outside and even above the vehicle--all set in their choice of iconic California backdrops. From there, customers can save a favorite design configuration to their Lucid account if they wish.

Future Studio & Service Centers

Additional locations will continue to open as Lucid expands its presence in North America and globally. Customers can visit during normal business hours or can book a personal appointment by contacting the Lucid team at lucidmotors.com/contact. They can always start exploring the Lucid Air through the "Design Yours" Configurator.

About Lucid Group

Lucid's mission is to inspire the adoption of sustainable energy by creating advanced technologies and the most captivating luxury electric vehicles centered around the human experience. The company's first car, Lucid Air, is a state-of-the-art luxury sedan with a California-inspired design that features luxurious full-size interior space in a mid-size exterior footprint. Underpinned by race-proven battery technology and proprietary powertrains developed entirely in-house, Lucid Air was named the 2022 MotorTrend Car of the Year(R). The Lucid Air Grand Touring features an official EPA estimated 516 miles of range or 1,050 horsepower. Customer deliveries of Lucid Air, which is produced at Lucid's new factory in Casa Grande, Arizona, are underway.

Media Contact

[email protected]

Trademarks

This communication contains trademarks, service marks, trade names and copyrights of Lucid Group, Inc. and its subsidiaries and other companies, which are the property of their respective owners.

Forward-Looking Statements

This communication includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target," "continue," "could," "may," "might," "possible," "potential," "predict" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding plans and expectations regarding the new Lucid Studio in Cherry Creek, expectations regarding studio experience, including in-person and virtual customer experiences, plans regarding future openings of new Studios and Service Centers, including planned locations, and the promise of Lucid's technology. These statements are based on various assumptions, whether or not identified in this communication, and on the current expectations of Lucid's management. These forward-looking statements are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from these forward-looking statements. Many actual events and circumstances are beyond the control of Lucid. These forward-looking statements are subject to a number of risks and uncertainties, including those factors discussed under the heading "Risk Factors" in Part II, Item 1A of Lucid's Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, as well as other documents Lucid has filed or will file with the Securities and Exchange Commission. If any of these risks materialize or Lucid's assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Lucid presently does not know or that Lucid currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Lucid's expectations, plans or forecasts of future events and views as of the date of this communication. Lucid anticipates that subsequent events and developments will cause Lucid's assessments to change. However, while Lucid may elect to update these forward-looking statements at some point in the future, Lucid specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Lucid's assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon the forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lucid-motors-opens-first-retail-studio-in-the-state-of-colorado-the-denver-studio-at-cherry-creek-shopping-center-301570180.html

SOURCE Lucid Motors

   


> Dow Jones Newswires

June 17, 2022 09:00 ET (13:00 GMT)

[Smitty]

Gap at 15.55 this morning? I hate Gaps!!!!! 

[Dr PennyStock]

Gap at 15.55 this morning? I hate Gaps!!!!! 

No gap my friend, relax

[Smitty]

Gap at 15.55 this morning? I hate Gaps!!!!! 

No gap my friend, relax

Awesome!!!! Paranoid I guess, seems like every time I'm on the verge of making money, Beijing Biden opens
his POS Piehole, and there it goes,<poof>, gone!!!!
Don't need anything else!!!!! Getting hard to make a buck!!!!!