Today, Lucid Motors and Churchill Capital (NYSE:CCIV) are in focus for investors. Indeed, CCIV stock is one that has been on a relatively volatile ride of late. Today’s 2% move to the downside is a continuation of this near-term volatility.
This move is a result of a variety of catalysts.
One of the key drivers of today’s selling pressure is an upcoming shareholder call. Investors bracing for this call have been bidding up shares of CCIV stock in recent days. However, today, the momentum appears to have taken a turn to the downside.
Additionally, the broader markets have turned red amid today’s inflation report. Tech stocks, and in particular EV stocks, are all struggling to gain momentum. It appears the market is pricing in the potential for higher interest rates. Interest rate hikes that come sooner than expected could have an outsized impact on valuations for high-growth sectors. For investors in CCIV stock, this isn’t a good thing.
That said, the majority of today’s focus with Lucid Motors has been on its upcoming shareholder call. And today, the company officially filed its slide deck with the SEC in advance of the 4:30 p.m. Eastern meeting. Let’s take a look at a few things investors may want to know about this shareholder presentation.
What to Know Ahead of the CCIV Stock Presentation
Lucid Motors’ full slide deck is available here. These are some of the key highlights for investors:
- Lucid Motors noted total Lucid Air reservations have breached the 10,000 mark. The company says the “Lucid Air Dream Edition is now fully reserved.”
- The company’s pre-production run of 89 Lucid Air vehicles was completed on track in June.
- Lucid’s energy storage system prototype testing is “progressing well,” with larger pilot projects planned.
- Additionally, the company is planning to pull forward $350 million in Capex to the 2021-2023 period. These investments are mainly geared toward increasing vehicle manufacturing production.
- The company emphasizes the efficiency of the Lucid Air sedan relative to its competition. The company notes a longer range and faster miles-per-minute charging rates as key competitive advantages.
- Lucid reiterated its 20,000 production target for 2022. Additionally, the company posted a 2026 production target of 251,000 vehicles annually.
- By 2030, Lucid anticipates an annual run rate of more than 500,000 units, with an expected market share of 4% at that time.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.