Electric vehicle (EV) bulls have had a lot to celebrate over the last couple of months. The race for market dominance is now really heating up between Lucid Motors (NASDAQ:LCID) and newly relocated Tesla (NASDAQ:TSLA). With the former preparing for its first reporting quarter since going public, the event stands to be a defining moment for LCID stock. Investors are rightfully getting very excited, and LCID is seeing some big gains.
Lucid shareholders have a lot to look forward to in the coming weeks. While it recently began to really firm up investor confidence, thanks to events like the factory walkthrough, things are moving at breakneck pace for the company. Since coming public in July, it has begun to churn out Lucid cars on production scale. It also widened consumers’ eyes when it earned an Environmental Protection Agency (EPA) range greater than any other EV on the market; its Air Dream Edition sedan was given an official range of 520 miles on a single charge by the government agency. This is far beyond Tesla’s longest range offering, bringing things ever closer to a boiling point between the adversaries.
This news brings us to where investors stand today, with a busy handful of weeks ahead beginning tomorrow. After numerous delays, PIPE (private investment in public equity) investors’ deadline for exercising outstanding LCID warrants comes to an end on Friday. In even more exciting news, it looks like deliveries will finally come to fruition; the company is promising to begin shipping out its first fleet of Airs beginning on Saturday, Oct. 30. This comes just in time for a very important date for shareholders.
LCID Stock Prices Go on a Tear After Lucid Announces Q3 Earnings Date
It looks like those first Lucid Air deliveries will come just in time for the company’s Q3 earnings meeting. The company will be connecting with LCID stockholders on Nov. 15 after the market’s close, to deliver its first earnings report since listing on the Nasdaq Exchange in late July. Of course, given the fact that deliveries aren’t starting until the weekend, the company won’t be reporting on delivery figures. But, investors are sure looking forward to hear about the company’s first quarter on Wall Street, and they are hoping to hear some solid production and sales figures to boot.
LCID stock itself is seeing its fair share of love today as the announcement reaches Lucid bulls. Its price is gaining nearly 25% as we progress into the afternoon; a whopping 132 million shares of LCID are trading as well, against an average volume of just 22 million.
On the date of publication, Brenden Rearick 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.