Lucid Motors (NASDAQ:LCID) is on the up and up today. It appears investor sentiment is growing increasingly optimistic as we approach Sept. 27. The day will be a significant one for the company, as it will finally allow shareholders to get their eyes and hands on tangible Lucid products. With buyers hotly anticipating the show-and-tell, LCID stock is rising this morning.
Lucid has given a couple peeks into its sleek Arizona factory over the last year. A video in early April allowed all to take a look at the rigorous process for crafting a Lucid Air, from assembly to quality control. As a pre-SPAC (special purpose acquisition company) electric vehicle (EV) play, the video allowed for some rigorous price momentum. Now, with the company trading publicly and investors pleading for a delivery date, a real-life look into the facility is proving to be just what the company needs to satiate many.
In the last week of August, the company announced it would be inviting the media, policymakers, finance experts and a select group of investors to its factory. Sept. 27, next Monday, will be the day the company hosts this group and flexes its production technology. After the tour, the invitees will have a chance to ride in a Lucid Air and witness performance for oneself.
LCID Stock Sees Continued Upward Trend Ahead of Factory Tour
The tour comes after an interesting couple of weeks for LCID stock. The company recently received a rating from the Environmental Protection Agency (EPA) for its Air Dream Edition Range model. The agency officially rated the car’s range at 520 miles on a single charge, making it by far the longest-ranged electric vehicle available. The range actually beats Tesla’s (NASDAQ:TSLA) longest-ranged vehicle by over 100 miles.
As InvestorPlace’s Luke Lango says, it’s this recent news and the overall sentiment that the hype is becoming more real by the day that allows LCID stock to transcend the week’s market slump:
“Lucid’s strength in yesterday’s awful tape is notable, and speaks to the underlying enthusiasm of the investor base following the EPA announcement. Long story short, we got confirmation that the story isn’t all-hype. There’s walk behind the talk. Deliveries come next. Lots of investors are paying close attention to when those deliveries will actually start — we don’t care. We know deliveries are coming before year-end, and that the company will deliver thousands of vehicles in 2022. On that assumption, we see 2022 as a big breakout year for Lucid stock.”