Actions of Lucide Group (NASDAQ:LCID) have flown increased in latest weeks. This motion continued throughout at this time’s shortened buying and selling session. After leaping greater than 10%, Lucid shares held on to a few of that achieve, up 4.2% as of 11:55 a.m. ET.
The inventory has soared almost 60% over the previous month. This was partly because of the electrical car (EV) maker opening up its order guide for the brand new Gravity SUV. Right now’s resolution, nevertheless, seems to be extra associated to different information from the corporate and the automotive sector.
Earlier this month, Lucid CEO Peter Rawlinson stated he was contemplating partnering with a standard automaker to assist scale back capital prices, based on Bloomberg. Rawlinson stated: “It could be nice if we may present expertise to a standard automobile producer to assist them on the trail to sustainability, and maybe we may benefit from economies of scale with their elements bin and different points of the enterprise. »
Right now, a serious merger between Honda And Nissan is being mentioned, main clear-thinking buyers to suppose that Rawlinson’s plan may be nearer to actuality. Honda and Nissan have begun discussions to merge to create what could be the third largest car manufacturer. The 2 Japanese automakers hope to announce a merger settlement by the tip of subsequent 12 months.
Whereas Lucid action has elevated not too long ago, it’s nonetheless down greater than 20% for the reason that begin of the 12 months. Even with its new SUV hitting the market subsequent 12 months, the corporate nonetheless faces main obstacles to reaching profitability. It solely plans to provide about 9,000 automobiles this 12 months, and the quantity is massive to cowl excessive fastened manufacturing prices.
A partnership with one other automaker may assist Lucid develop its money stream. Fellow electrical car producer Rivian Car not too long ago introduced a partnership with Volkswagen Group it will assist the startup scale back its capital necessities.
Traders most likely suppose Lucid must take the identical method. With the CEO declaring his want to take action and a possible new auto merger within the information, Lucid inventory is getting a lift at this time.
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