Lucid Motors' shares surge 37% following major investment

23 авг.

Lucid Motors has seen a remarkable 37% increase in stock value following a significant 1.5 billion USD investment from the Saudi Arabian Public Investment Fund, a principal shareholder. This influx of capital is pivotal as it supports the launch and development of Lucid's new electric vehicle, the Lucid Gravity. The investment enhances Lucid Motors' financial stability and liquidity, which are crucial for the continued innovation and production of their next model and building on the success of Lucid Air.

Lucid Gravity targets the burgeoning market for electric SUVs, combining premium quality with an electric powertrain – a rapidly growing consumer preference. With this strategic financial backing, Lucid is well-positioned to capture a significant market share in this segment.

Technical analysis of Lucid Group Inc (NASDAQ: LCID)

Analysing the potential trading opportunities based on the technical indicators of Lucid's stock:

• Timeframe: Daily (D1)
  
• Current trend: The stock has shown a strong upward movement, breaking past the resistance at 3.60 USD, which now serves as a new support level
  
• Short-term target: The immediate upside target lies at the resistance level of 4.25 USD
  
• Medium-term target: Should the stock surpass the 4.25 USD resistance, the next significant target could be at 5.00 USD
  
• Key support level: 2.90 USD, which the stock recently rebounded from significantly
  
• Growth scenario cancellation: If the stock breaks below the key support at 2.90 USD, it could negate the bullish scenario and potentially lead to a decline toward 2.50 USD
  

Given that Lucid's shares have previously reached as high as 60 USD in 2021, the current price levels suggest a substantial growth potential if the company can capitalise on its recent investments and market trends favourably. The recent rebound from the 2.90 USD support could begin a long-term uptrend for Lucid Group shares, especially as the company continues expanding its electric vehicle offerings.

—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.

The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.