Lucid Group Inc (LCID)

[LoveThemStocks]

LUCID is mentioned in the article: SAUDI ARABIA FINDS ITS WAY INTO THE ELECTRIC VEHICLE MARKET
https://www.breitbart.com/middle-east/2022/05/06/saudi-arabia-finds-way-electric-vehicle-market/

[KMC-1]

This case is nothing more than opportunistic lawyers hoping to settle out of court.

[jgrabar]

It is alleged the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Lucid’s business and operations. Specifically, it has been alleged that Lucid overstated its production capabilities while concealing that “extraordinary supply chain and logistics challenges” were hampering Lucid’s operations from at least November 15, 2021, and that as a result of the Defendants’ wrongful acts and omissions, shareholders and the company have suffered significant damage.

Current Lucid shareholders who have held shares of the Company’s stock since November 15, 2021, can seek corporate reforms and potentially a court approved incentive award if appropriate.

Unlike a class action, brought on behalf of damaged investors, a shareholder derivative action is an action brought by a shareholder of a public company on behalf of and for the benefit of the company itself against the directors and/or officers of that company. In a derivative action, shareholders “step into the shoes” of the directors and officers of a company and bring litigation that the board would be unwilling to pursue on its own.

https://stockhouse.com/news/press-releases/2022/05/06/grabar-law-office-investigates-potential-shareholder-action-on-behalf-of-current

https://grabarlaw.com/the-latest/lucid-investigation/

[Windbag1014]

I did own shares. Bought in in September and October and sold in March when the cut in production was announced. I was up over 100% at one point but held too long. Love the car and concept but it would seem they got way over their skis. I am looking to get back in at some point, just waiting for the production and revenue to catch up to their price.

[BearRickPunch]

Tough day today, but expected with a low revenue report on the quarterly.

[TomSawyer]

Well said.

On the flip side, this video came out. Look how many designers they have... insane.

[Windbag1014]

Not saying it wasn't in his contract. Aligning interests is normally a good thing. The price may have never got to those levels if the production numbers were lowered by 40% earlier in the process. My question is when was this known? A CEO/founder should get paid based on the success of a company. Share price is subjective and does not always reflect the actual health of the company. Worse, it can be influenced by timing and magnitude of disclosures by management.

[BearRickPunch]

It's not like he sold or dumped his shares. These are award payments for reaching a specific profit level. No doubt once Lucid hit's the same mark again in the future that he'll get another award payment. People are making a stink over something that was probably in his contract. I'm just saying, it's not like the share structure just got diluted or he sold his shares to make a profit before it tanked. It doesn't look great and I'm in agreement with that, but when does a CEO getting paid with the pps tanking ever look good?

[Windbag1014]

Who at Lucid has the most influence over the share price? Projections for deliveries were pretty enthusiastic compared to reality. How early on did the CEO know there would be problems with the supply chain. Lots of incentive for him to keep quiet as the share price rose and his pockets filled.

Might be totally legit but optics don't look so good. Price peaked at $55.52 in mid November. $19.40 today. $260 million. Lots of incentive for the guy to push the price.

https://www.cnbc.com/2022/02/28/lucid-slashes-2022-vehicle-production-forecast.html
https://autobizz.in/lucid-motors-ceo-was-awarded-260-million-right-before-shares-plunged-by-67/

[BearRickPunch]

What's messed up about it? It's under his contract that if the share price reaches a certain point, he gets awarded by it?

[KMC-1]

that's messed up.

[Windbag1014]

https://www.bnnbloomberg.ca/lucid-ceo-got-half-of-566-million-award-before-shares-fell-67-1.1758640

[LoveThemStocks]

Yeah, I was surprised to see it was still under $20 too with such great news. The supply chain issue seems to be holding this stock back from having a huge bullish position.

[BearRickPunch]

Yup. This is great news however it really didn't move the needle much. Announcing contracts like this aren't much until you can prove you delivered 100,000 vehicles. I'm still in huge belief that this will eventually pay off in the long run. It's just a question of if you want to wait that long because this isn't going to happen overnight.

[retireat40]

We’ll see. Was under $20 all day today with good news out of Saudi Arabia.

[KMC-1]

I like seeing they're looking at a 10 year horizon, this stock is going to change people's lives. I just keep adding as I can and using these low prices to average down. I'm excited to see these start to really go into full production.

[crudeoil24]

The purchases will include vehicles built at Lucid’s existing factory in Arizona as well as a new factory it plans to build in Saudi Arabia, and will be a mix of Air sedans and upcoming new models.

[TheFinalCD]

$LCID up to 100,000 vehicle order from Saudi Government

https://www.cnbc.com/2022/04/26/lucid-to-deliver-up-to-100000-evs-to-saudi-arabia-government.html

[TheFinalCD]

$LCID Luxury EV maker Lucid scores order from Saudi government for up to 100,000 vehicles

https://www.cnbc.com/2022/04/26/lucid-to-deliver-up-to-100000-evs-to-saudi-arabia-government.html

[LoveThemStocks]

That's very true.

[Windbag1014]

They still need to be able to make them. Demand doesn't seem to be a problem. They won't get paid if they can't produce them.

[LoveThemStocks]

Yeah, those guys should be covering shortly because this won't be heading down for too much longer, just my thought.

[TheFinalCD]

wow they shorted it hard on the POP

https://ih.advfn.com/stock-market/NASDAQ/lucid-LCID/stock-news/87916342/lucid-announces-deal-for-purchase-of-up-to-100-000

[buk199]

Look this class action suit is some lawyer tried to make a lot of money off the backs of investors...
Every investor knows the risk. Shit happens and there's nothing you can do.

[LoveThemStocks]

This very positive and encouraging news: Lucid Announces Deal for Purchase of Up to 100,000 Electric Vehicles https://ih.advfn.com/p.php?pid=nmona&article=87916342

The stock shouldn't be falling too much more with this on the horizon.

[KMC-1]

It seems like there may be more to this than we know, but it could be s market overreaction to the economic situation too. There’s a lot of sell off going on, maybe in preparation for the rate hike increases that are coming, but that’s just speculation. There could be more than we know behind the scenes at Lucid too, although I don’t expect that is the situation.

[Nflgiants86]

Yep. This is getting sad. Supply chain is gonna kill us. No idea how this will affect all EV’s.

[KMC-1]

What’s that Tom Petty song? “Free falling!”

Uh oh.

[BearRickPunch]

Why you should be investing some money in Lucid today. For the long term. It will be as big as Tesla eventually, but it will take quite a bit of time.

[BJ_Cooper]

Or, they’re going to be very sad in a month.

[BearRickPunch]

Yah, whomever got LCID under $20 today is going to be really happy in a year.

[BearRickPunch]

and I'm not saying all this because we are on a shitty cheap forum board that is known to have 90% of the tickers on here as pump and dump scams, I'm saying this because Lucid will eventually rival Tesla as a company and the ticker should reflect that as well.

[girlfriend]

They’re hitting all EV stocks right now. Demand isn’t the issue…parts shortage is. Took some LCID today for the long term and prepared to buy some more if she dips below. Saw nice Lucid commercial on tv this morning.

[KMC-1]

There’ s lot going n behind the scenes that’s going to pop off, but you’re right, it won’t be for a while. The drop right now is retail investors moving around to shorter term plays, combined with the nonsense lawsuits. Soon there will be announcement about the new models being worked on, the second stage expansion of the factory and the sales growth for the existing models increasing as they’re hitting the market. As you mentioned, these are cheap shares right now.

[BearRickPunch]

Yeah. Nothing is going to catalyst this until next year. I just don't see this really doing anything and I think that is part of the reason it's falling right now. I hate to see it, but I really do have faith that by next year, things are going to look much different here for LCID. So many potential catalysts in the making. These prices for shares are cheap right now.

[KMC-1]

It's in a bit of a freefall at the moment. I'm averaging down as I can. WOOT!

[KMC-1]

Totally agree. It's basically just some lawyers trying to gin up some money hoping for out of court settlements.

[BearRickPunch]

It'll more than likely be settled out of court if anything becomes of it. It's literally not that big of a deal when you consider where this might be in 2 years. Especially if they can get a 2nd manufacturing plant up in Saudi Arabia and especially if they meet or go beyond delivered vehicles this next financial year.

[KMC-1]

I'd be surprised if the cases go anywhere substantial simply because the supply chain itself doesn't have accurate date and are giving incomplete or inaccurate lead times on quotes. Many companies aren't even quoting raw materials at the moment - they simply give you the "right now" price and you can buy or you can pass - but they won't give out a quote and they won't hold onto material because if you don't buy it someone else will, and if they quote it and you come back even 24 hours later to buy it - the quote is no longer accurate to their costs of supplying the product.

And, I think right now is a smart time to buy because they are still in the process of getting started. In 2 years this is going to be a very different company. But... fair warning... I have been (very) wrong on stock picks before!

[lucky, mydog]

a classic case of what did they know and when did they know it.

[LoveThemStocks]

It's looking good for Lucid on this new Lucid Air Grand Touring Performance model. I see the stock price being very bullish.

[Rags2Riches]

Lucid Air grand,





https://finance.yahoo.com/news/lucid-announces-lucid-air-grand-130000988.html

[docprep]

Agree

[Windbag1014]

I hope you have a great weekend. I love the car and the EV space. Just not sure when to jump back in.

[LoveThemStocks]

Sorry about the miss in production. I believe this company has great fundamentals and their Lidar technology I honestly believe will surpass Tesla if not crush Tesla. Just my opinion. This was my last message for the day.

[Windbag1014]

Agreed. It was the miss in production that had me selling.

[LoveThemStocks]

Lawyers just look for someone or something to sue. They like following deep pockets. I just started investing in LUCID on the same day the news came out about this class action suit and I am not persuaded to sell based on some friggin lawsuit.

[Windbag1014]

I think someone said it earlier. The problem is not lawsuits or demand. The problem is getting the stuff to supply the demand.

[buk199]

Yes that has been one of the biggest issues... how meny lawsuit have paid out . Not meny.

[Windbag1014]

I think it is also about the SPAC structure. It seems to be attracting lawsuits.