On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. Should shareholders vote as investors expect, Churchill could see additional buying pressure over the near term. These comments were compounded by a walkthrough of Lucid’s flagship New York Studio, which Evercore noted similar enthusiasm for.įinally, the company’s upcoming merger vote is increasingly being seen as a buy-the-news event. Indeed, Evercore appears to be more bullish than ever on Lucid’s products, after assessing its product line as well as its preorder increase and its potential commercialization ramp. On top of this press release, Evercore ISI came out “impressed” by Lucid’s product line following a test drive of the Grand Touring Edition Air.

We have world-class technology, and we aim to make this a two-horse race.” That’s why it’s in that preeminent position. That’s why Tesla commands that market cap. And right now, there is one runner in that tech race, and it’s Tesla. He said the following, of the prospective “two-horse race” between Tesla (NASDAQ: TSLA) and Lucid, “Ultimately, it’s the technology that’s going to win, and what’s missing here is the recognition that this is a technology race. The electric vehicle manufacturer is now. These preorders are “bona fide reservations with appropriate deposits.” Indeed, Lucid is being careful to specify this, given the preorder fiascos we’ve seen with other EV players.Īdditionally, in the company’s press release, Lucid’s CEO Peter Rawlinson made some interesting comments. Lucid Group, the company formed after Lucid Motors July 23 merger with Churchill Capital Corp IV (CCIV), has become a publicly listed company.

In fact, the company boasts having 10,000 preorders for its flagship Lucid Air vehicle. The company reported recently that it has just reached a new milestone with respect to preorders. But the deal is being held up, in part, by spam. Over the last few months, Lucid had been rumored to be in. Lucid Motors is on the precipice of completing a merger that will give the Saudi-owned electric vehicle startup 4.5 billion in fresh capital. Perhaps the key catalyst driving shares of CCIV stock higher today is preorder data. Electric vehicle startup Lucid Motors announced a SPAC deal to go public with over 4 billion in cash injection to accelerate its plan.

Lucid motors merger