Today, investors in Lucid Motors (NASDAQ:LCID) and LCID stock are seeing red. Indeed, most major EV stocks have sold off, as the markets saw mixed price action this morning, with a nice rebound to end the week.
Over the past month, LCID stock has been one of the winners in the EV space. Indeed, the recent price action Lucid has seen has been impressive. Investors appear to be reassessing EV stocks , as global chip shortages threaten the growth thesis for these companies. However, Lucid has captured the attention of many growth investors bullish on its commercialization timeline.
Recent momentum to the upside has resulted from Lucid’s Production Preview Week. At this event, the company invited customers, analysts and investors to view Lucid’s facilities. Test drives of the company’s Lucid Air model were given. And by all accounts, these test drives went over well.
Given the fact that Lucid Air vehicles are expected to roll off the production lines into the hands of paying customers shortly, there’s a lot of anticipation around what Lucid’s growth will look like from here. Accordingly, investors are keeping a closer eye on LCID stock than in the past.
Here’s one update investors may want to keep an eye on in the weeks to come.
DreamDrive Coming, Investors in LCID Stock Excited
Via a somewhat mysterious tweet yesterday, Lucid announced that “Lucid DreamDrive awakens on October 12.” This tweet appears to be a follow-up on the company’s Production Preview Week, and a look forward to what’s next for Lucid.
Production Preview week is wrapping up — but you won’t want to sleep on what’s coming next. Lucid DreamDrive awakens on October 12. #DreamAhead pic.twitter.com/4lERbdqzbk
— Lucid Motors (@LucidMotors) September 30, 2021
Just what is DreamDrive?
Well, this may refer to the DreamDrive technology suite unveiled last year. As with other EV companies, Lucid’s focus on being a tech-first carmaker has become apparent. The company had previously touted various safety, driving and parking assist features that will be included as part of DreamDrive. This system also enables Level 3 driving, in certain conditions.
While the company hasn’t done anything crazy like label this “fully autonomous driving,” it appears Lucid is bringing a similar product to market as rival Tesla (NASDAQ:TSLA). Assisted driving technology has come a long way. And Lucid has touted its DreamDrive technology to be “among the most advanced ADAS to ever be offered to customers.”
Sounds intriguing.
Just how good this technology is off the bat remains to be seen. However, the fact that Lucid may be launching this technology in combination with its upcoming deliveries is exciting. While LCID stock doesn’t seem to be feeling the love today, this is a key factor investors will likely keep an eye on in the weeks to come.
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.
