![]() And the most fervent of LCID bulls believe that the gesture refers to a sought-after partnership with Apple (NASDAQ: APPL)(if anyone can decipher the correlation between the number four and Apple, please email me). And an InvestorPlace reader messaged me suggesting that Peter is using trading floor hand signals: h is left hand suggests September, his right, the number 4.Īnother suggests Peter is talking about Level 4 Autonomous Driving (quite a jab, considering the recent safety probe into Tesla ). Some believe that the gesture refers to the delivery date of the flagship Lucid Air EV, currently slated for sometime in H2 2021. ![]() The author holds no licenses.Meanwhile Rawlinson’s photo ops have spawned quite the stir on Reddit and other social media forums. Lucid news professional#Always do additional research and consult a professional before purchasing a security. The author has no securities or affiliations related to this organization. Information for this briefing was found via Edgar and the companies mentioned. ![]() Lucid news plus#Lucid’s valuation remain quite high regardless of the headwinds it faces, including the potential of a near-term equity offering. Its enterprise value is US$22.7 billion despite a cash burn (operating cash flow deficit plus capital expenditures) of around US$1.5 billion just in the first half of 2022, with perhaps an even greater level likely in 2H 2022. Many analysts believe that aggressive short covering fueled those gains. Interestingly, Lucid’s overall short position did not vary significantly even during the stock’s strong (bear market) rally in July and the first half of August. In addition, the cost to borrow Lucid shares to put on or to maintain a short position is quite expensive, a reported annual rate of about 11%. Consequently, investors should be mindful that a short squeeze could happen anytime. As of August 15, 2022, approximately 23% of its float was shorted. Lucid is one of the most heavily shorted U.S.-traded stocks. Lucid news registration#Separately, in late August, Lucid filed an S-3 registration statement with the SEC that would permit it to issue up to US$8 billion in new capital (presumably much of it new equity) over a three-year period. The filing also allows its core investor, a Saudi Arabian investment fund which owns a 60+% stake in Lucid, the flexibility to sell some or all of its 1.0 billion Lucid shares over time. None of the proceeds from any Saudi stock sales would flow to Lucid. ![]() (A) Operating cash flow was negative US$745.4 million in the nine months ended September 30, 2021. (in thousands of US $, except for shares outstanding) Note that Lucid produced only 1,405 vehicles in 1H 2022, so production will need to approximately quadruple in the second half to meet even the reduced full-year goal. These departures may be linked to Lucid’s early August announcement that it slashed its full-year 2022 production to 6,000-7,000 Lucid Airs from its previous manufacturing forecast of 12,000-14,000 vehicles. The departures of many high-ranking managers seem unusual for a company which is just beginning to produce electric vehicles on a commercial scale and which appears to have strong growth prospects. Executives should, in theory, be inclined to stay as the equity-linked portion of compensation packages become more valuable as the growth materializes and the underlying share price rises. ![]() (NASDAQ: LCID). According to various media reports, six high-level executives, including the VP of global manufacturing and the head of its Arizona operations where the company produces all its vehicles, have recently left the company. All six were involved in Lucid’s manufacturing/logistics processes. Negative news continues to swirl around Lucid Group, Inc. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |