Amid great anticipation, Lucid Motors (NASDAQ:LCID) made its stock market debut earlier this week. This comes as the electric vehicle startup closed its merger with Churchill Capital IV and shifted shares from the New York Stock Exchange to the Nasdaq. With LCID trading independently and its Air EV on the way, how high can LCID stock go? This question has investors hunting for Lucid Motors stock price predictions.
As InvestorPlace contributor William White wrote earlier this week, Lucid Motors made a splash in its debut. The company has been drawing retail investor attention since early 2021 when rumors of its SPAC merger first emerged. Importantly, a huge part of the appeal has been hopes that Lucid can dethrone Tesla (NASDAQ:TSLA). Luxury models, an experienced CEO and big backers have contributed to this hype.
Also importantly, when it was trading as CCIV stock, Lucid Motors was on a wild ride. At the peak of the electric vehicle craze, shares traded near the $60 level. Since then though, the company has seen great price volatility. Valuation concerns, production uncertainty and growing competition have been weighing on Lucid.
Now, Lucid Motors has made its independent debut and has ushered in a new era. With that in mind, many retail investors appear interested in the next phase.
So where do things stand now in terms of Lucid Motors stock price predictions?
Lucid Motors Stock Price Predictions: Where Will LCID Go?
For context, LCID stock is currently trading just below $25.
Considering this, not all analysts are bullish on Lucid Motors. InvestorPlace contributor Alex Sirois thinks the company has short-term catalysts, such as its trading debut and the upcoming Air launch. Sirois therefore anticipates the price to grow in the near term, but warns that the road ahead is rocky for LCID. Moving into September 2021, he says the risks are “obvious.”
Other sites are more bullish. Writing for Market Realist, Ruchi Gupta says that a $100 price target is realistic for LCID stock in the next two years as deliveries kick off. Wallet Investor sees the $120 level as reachable in the next five years.
So what is the bottom line? Lucid Motors stock price predictions are all over the place, and that speaks to several unknowns right now. Investors are excited about its promise and the upcoming Air launch, but are waiting for more concrete details before making their projections. Plus, key names on Wall Street have yet to initiate coverage, so some in the retail crowd may be waiting to see what direction the professionals take.
On the date of publication, Sarah Smith 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.
Sarah Smith is the Editor of Today’s Market with InvestorPlace.com.