Should You Buy Lucid Motors At $35? - Merger Update - CCIV Stock Price Prediction
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So Lucid Motors or CCIV Stock just keeps on going up. There is still no guarantee whether this merger will be going through. But we just saw some SOME INTERESTING UPDATES WE HAVE TO go through that I think are great for Lucid Motors and that ACCORDING TO STOCK MARKET INDICATES FURTHER THAT the merger will be happening.
CCIV Stock has been going up an incredible amount, now being at almost 35 dollars a share, up 250% from before the initial talks were announced. So Let’s talk about THE RECENT NEWS SUCH AS the interview with CEO of Lucid Motors, Peter Rawlinson and also whether this is a stock I would BUY, HOLD, OR SELL at these current levels.
Just to give a very brief backstory, Lucid Motors is an electric vehicle company that is filled with HIGHLY COMPETENT ENGINEERS working on taking EV technology to the next level. Alot of the employees at this company have previously worked at other car companies such as Tesla And Mazda and the CEO Peter Rawlinson was actually the former VP of engineering at Tesla.
They also have some major institutional investing backing them up with the likes of VENROCK, MITSUI, JAFCO and even THE PUBLIC SAUDIARABIAN INVESTMENT FUND backing them up.
Now we all know that they will be going public BUT it is highly likely that this will be through a merger with a so called SPAC, Churchill Capital or CCIV Stock. This merger is not yet confirmed but as I said earlier CCIV is up 250% on THE speculation because there is simply SO MUCH EVIDENCE HINTING AT THIS MERGER.
I have already talked about it in past videos but to name a few sources from Bloomberg and the LA Times have SAID that the merger will happen, BUT ALSO THERE ARE JUST SO MANY CONNECTIONS BETWEEN Churchill Capital and Lucid Motors, for example both having the Saudiarabian fund investing in them as well as there being people who are working and ARE AFFILIATED WITH BOTH COMPANIES AT THE SAME TIME.
But NOW we saw Lucid Motors CEO Peter Rawlinson appearing on CNBC Friday morning with Jim Cramer and David Faber. He shared his thoughts on his company, their plans to grow the electric vehicle market and YOU GUESSED IT, THE RUMORS OF A SPAC DEAL.
Regarding their growth we know that Lucid Motors will be starting small with plans to sell 6,000 to 7,000 vehicles this year. The Lucid Air Dream car is the first vehicle that will be produced and comes with a starting price of $161,000.
Among other POSITIVE, BULLISH STATEMENTS HE SAID that:
Lucid Motors will “increase our volume accordingly” to create a more affordable luxury electric vehicle. The Lucid Air will have a starting point of $70,000 in the future and We’ve already built the first phase of our factory in Arizona, Peter said..
A six-year plan calls for phase four to be complete in the mid-2020s. The factory will be able to produce 400,000 units a year under phase four. Also Lucid Motors is seeing “overwhelming” demand right now, with its “order book growing daily.”
Being a former Tesla executive he also compared Lucid Motors to Tesla seeing that he wouldn’t even call them a competitor because they don’t have the same focus on luxury vehicles that his company has. This is of course very positive since Tesla is an absolute behemoth of a company and taking market shares from them is a challenge for any company, something Lucid motors won’t need to do.
And now to the most exciting part where he was asked about the merger with Churchill Capital or CCIV….
So as you could guess he obviously couldn’t really comment on it but he did say that he can neither confirm or deny it. THE way he said this with a big smile led to CCIV STOCK JUST SHOOTING UP ending Friday being up more than 14%.
It is of course illegal for him to comment on whether the merger will go through or not before the actual FORMAL ANNOUNCEMENT but again the way he said it SEEMED PROMISING. It is funny to look at the comments where people discuss his body language and whether he was just smiling to be polite or if he was actually holding back some positive news.
But regardless, if anything I think this is a positive indicator. It also seems like Peter Rawlinson will come back to CNBC again VERY VERY SOON which would be very strange unless he had a big announcement to make publicly.
Overall I got a very positive impression of Lucid Motors as a company and the way the CEO of the company talked confidently and passionately about the plans and the mission of the company, saying they will take electric vehicle technology to the next LEVEL.
Truly my favorite part of the interview was him saying that THE CORE, MOST TELLING METRIC OF WHERE ANY CAR COMPANY IS TODAY is EFFICIENCY and how far the car can go PER KILOWATT HOUR and he said that Lucid’s cars can go 4 miles per kilowatt hour which is just insane.