I am assuming all EV companies today climbed due to new tax credits for EV buyers in bill passed by Senate. Investors should know that the limit applies only to cars priced under $55k. Tesla rarely if ever sells cars under $55k. The Lucid Air cost $167k and the Pure cost $87k. Lucid may never make a car costing under $55k, certainly not in the next 4-5 years.
Lucid burned through $800 million in last 3 months and made 679 cars. They spent over $1 million per car. Seems like a business model like that can last for only so long. Hard to believe they raised $7 billion and it all will be all gone by end of next year. They will have made less than 15,000 cars before spending all of the money from investors. Tesla makes that many cars in 2 days and actually generates a profit. I know, I know, backed by Saudis. Maybe I'm wrong, but it might be naive to think Saudis will give them cash without asking for shares. And when the company needs the money, those shares will get awfully cheap.
Puts on Lucid! Since Saudi's are active downvoters, please upvote to protect your fellow investor.
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