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I didn't put words in your mouth, I quoted you.
The fact is, $500+ MILLION in compensation for a year's work is ludicrous, especially given the fact this company is barely generating revenue at this point. It's a massive waste of resources, at a time when the company is resource-intensive. It's an amount of money that doesn't make sense, and is only possible because so many Investors have gifted the company cash through the SPAC offering - and those Investors didn't put their hard-earned money in for one man to swoop in and absorb it.
Totally agree that there is no wiggle room in the compensation contract. The gripe I have is the share price can be manipulated based on the CEO passing gas. Why not base it on actual production instead of the numbers the compensatee comes up with? With that kind of money on the line, what incentive does he have to throw the towel in weeks before his bonus? What did he know and when did he know it? Greed would incentivize the CEO to wait until after the bonus was paid to make the announcement that you weren't going to hit your numbers.
No. Now you're trying to put words in my mouth. Just stop. Read the post and article on how or why he was compensated. Do your DD instead of just jumping to a conclusion based on speculation.
All ev startups are fledgling right now. Rivian, Nio, Lucid and even Tesla is down 50% from it's high this year. The section isn't in a good place atm.
It depends on the contract or compensation structure that Rawlston had with the funding company from Saudi Arabia. It was probably a part of the deal they struck when he signed the dotted line. Get the share price to a certain price point and get so much in bonus incentives. That's a normal structure when you have a CEO company relationship. Rawlston was coming over directly from Tesla as a successful designer, engineer and marketer of the Model S.
I'm not a fan of SPACs because you don't even know what to expect when a confirmation is announced. Evidence in the CCIV bullshit, but Lucid however seems to be a legitimate contender in the EV section and I think that the share price will eventually reflect that.
What is your opinion of the compensation being awarded as a result of milestones being met based on stock price moves that were based on information communicated by the receiver of the compensation that turned out to be far from achievable?
What was the projection for sales in dollars and numbers and what was the actual result? Who put out those projections? When it is the same person that benefits most from those projections, isn't there a conflict of interest?
Are you a fan of the SPAC structure? How are SPACs performing in general? Would you consider SPACs to be fairly valued at IPO?
Just some shady shit going on at LUCID and in the SPAC kingdom so far. Just my opinion. Would love to hear otherwise.
So when you actually stated that he was compensated $566 MILLION, you actually meant he wasn't? I don't think that's how it works.
The fact the value fell afterwards, doesn't change what they were worth when they were given.
Nor does it change what they could be worth in 5 years, assuming he lives that long given his age.
It's obscene given the company is fledgling is has such little revenue.
No, I'm trying to point the facts to you about what his compensation was and why he was compensated. You're drawing false conclusions to support your own narrative of what is going on. Even in this statement, you still are incorrect in your assessment that he was compensated $566M.
So what you're saying is that he did, in fact, receive $566 MILLION in compensation - prior to his failure in leadership causing that value to drop.
So don't tell me "to get my facts straight", when my facts are straight, and you're just trying to play semantics on why his compensation fell to "only" $263 MILLION.
And people wonder why there is a social movement away from Capitalism in this country.
Lucid partners with Bank of America for leasing and financing.
https://electrek.co/2022/06/07/lucid-motors-launches-lucid-financial-services-with-bank-of-america-for-lease-and-loan-financing/
This is just not true at all. Please get your facts straight. Rawlston got 263 million due to the share price profit incentives.
Peter Rawlinson gets $263 million in performance-based stock.
https://www.bloomberg.com/news/articles/2022-04-28/lucid-ceo-got-half-of-566-million-award-before-shares-fell-67
Peter Rawlston was paid $566 MILLION as CEO???
This is what happens when the company isn't earning the money and is living off the Investors. Wow. Just wow.
I've noticed that too - and then ironically when a company really does act unethically, the CEOs "resign" and walk away free and clear and the investors get their money stolen. Lawyers really are a cancer.
I don't even know if they got enough participants to go forward with it. Seems like all the startups for the last couple years all end up having these class action suits being thrown around..........
Yep - exactly.
Ambulance chasers
I didn't simply because I don't believe the lawsuit has a chance of winning, because the management didn't purposefully mislead and there are many companies struggling with supply chain issues right now.
This will settle out of court, and the lawyers will take most, if not all, of the money meant for the "victims".
Why play into that nonsense?
Now that the deadline passed, did anyone join in on the class action? I did not, as I don't have that much invested here in the first place.....
Just noise. The SP will be up again before it even gets to court. Remember the value the Saudi factory will bring.
These lawyers are like ambulance chasers anytime a stock goes down they want to Sue that's just what it is just law firms trying to make a buck off of somebody. You see no one is bitten.... they are still looking for someone to sing on. Stocks go and they go down.
What about this lawsuit ?
Hey everyone. I've been off the map for a bit for work, but I just wanted to say that while yes, LCID hasn't had the best month, I do still believe that this will eventually launch. Could be a year from now, could be 2 years from now, could be 3 years from now. This is a sit and wait long play. You're not going to get massive gains from this overnight, but in a year when the Saudi plant and the expansion is closer to being finished, 2024 could be the year we start to see more Lucid cars hitting the road. These prices might trade sideways or go down depending on the market over the next few months, but I still without a doubt believe that Lucid will eventually blossom to being one of the best EV companies in the world and will rival Tesla eventually.
2024, Tentative launch of the Gravity SUV, Saudi Plant and expansion opens,
$LCID... The “Green Energy Revolution” is Creating Massive Global Demand for Lithium — its Most Precious Commodity
Unfortunately, 80% of the World’s Lithium Market is Currently Controlled by Communist China.
Hemp for Victory 1942
This would be an excellent move for $LCID...
The waste fibres from hemp crops can be transformed into high-performance energy storage devices, scientists say.
They "cooked" cannabis bark into carbon nanosheets and built supercapacitors "on a par with or better than graphene" - the industry gold standard.
https://www.bbc.com/news/science-environment-28770876
When this takes off it's going to be a pretty impressive run.
Added some more today.
I agree KMC-1 :)
They're using the same model Tesla took when they started. Establish the brand with luxury, high performance vehicles. Build the reputation and the impression of being sophisticated and high end - while using that profitable revenue to finance the expansion of the future product lines.
I just saw a video today of the Tesla Semi - that's going to be pretty amazing.
No where but up for future EVs, and just wait until we see the ripple effect this business is going to have on our lives in regards to future battery tech.
IMO I think they are focusing too much on luxury cars and that is hurting the business and stock. Luxury is low-volume, low-sales, low GP.
If they can produce a $30K EV w/500+ range (now, not in 3-5 years) for mass-consumers... their sales would fly. IMO the stock would get to $200-$400+ as ONLY THEN... they would be taking Tesla's real bread & butter.... volume/sales/profits.
Same. I'll watch for a little while and see if it's found a bottom. I feel like there's just some excitement in the market for EVs for a few days, then things will go back to the slide - but I could be wrong!
I don’t know. I will add more if it dips again
It's nice to see a bounce on a Friday...you may have been right!
In case I miss Happy Hour, in reply to your question, no, I sold ZEV and all my EV long ago. Took small losses, which would have turned into large losses had I held. And here I thought EV was the future. Should have just held all my small cap oil stocks I scooped up on the cheap around two years ago.
Tired of being whipped around by actually believing headlines and analysts. Those days are d-o-n-e.
GL with everything.
Lucid is included. Just found this article from today about the best EV Auto Investments. They really slam some.
https://evautoinsider.com/ev-auto-investments-the-good-terrible-and-amazing/ ;
I'm going to give it a few days to shake out before I dip back in.
Totally agree, I watched NIO go to .50 and now look where it is. I watched Tesla go to $50 and now look where it is. Rivian is backed by Bezos, I think that's another good option in the long run too even though it's getting hit hard now too. The only one I don't really like (and I'm in it deep unfortuantely) is Lordstown - but hopefully they'll pull a rabbit out in a year or two as well.
Personally I see Lucid as a retirement investment.
Agree but never thought it would be at this low level. In the long run we will be at 58 or more.
Same for me. I'm using this time to average down, right now I'm holding back the next tranche while it's looking for a bottom.
I'll just buy more and more. This is a long hold for me..
Full collapse.
I wouldn't be surprised to see this go under $3.00 soon.
Let's go Brandon!
$LCID...CELLAR BOXING SERIES is a MUST READ for all new investors!!!
PART 1 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52672689
PART 2 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52664836
PART 3 http://investorshub.advfn.com/boards/read_msg.aspx?message_id=52664935
Yeah, I bet this goes a lot lower yet too. The Biden economy is settling into the new normal now, interest rates are ticking up, the free money avalanche has come to an end. Now it's going to be a slug fest to get these cars to market in decent numbers and begin manufacturing the next couple models. Just keep adding a little here and there - in the next 5 years or so this will be worth something.
Wow $16s. Big swing from being over $50 a few months ago. SMH
Those ratings are garbage and change at the whim of a "journalist" who almost never has any skin in the game - don't use them.
We know this is going to keep dropping now until we see something exciting coming - use this time to average down.
https://www.benzinga.com/quote/LCID/analyst-ratings
Citi still has buy rating for lucid
Yep, vile leeches pray on startups and new IPO companies to try and suck up settlement money for any stupid reason.
When these leeches have to use the word "alleged" over and over, you know they will lose.
Also, I hope Lucid countersues.
This is BS. They are dirt bag attorneys suing numerous ev companys. I believe rivian too.
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