What Happened to the Lucid Motors Stock Price Today?
- Shares of electric vehicle maker Lucid Motors — which is merging with Churchill Capital Corp IV (NYSE:CCIV) — soared on Monday with CCIV stock popping more than 10%.
- There are rumors running around the internet that Lucid Motors may end up building EVs for Apple (NASDAQ:AAPL).
Why It Happened
- The internet thinks that Lucid Motors and Apple are working together to build a new class of super-cool electric vehicles.
- This belief stems mostly from two things.
- One, when asked in a recent interview whether or not Apple had approached Lucid Motors, Lucid’s CEO declined to comment — which, in business speak, almost usually means “yes”.
- Two, Apple’s legendary former chief designer — Jony Ive — is on the board at Lucid.
- On hope that the two are working together, CCIV stock popped.
Does It Matter?
- Lucid Motors and Apple may be working together. But, in our opinion, it doesn’t really matter if the rumors are true or not.
- The fact that people are even somewhat believing the rumors speaks to just how much talent is at Lucid Motors.
- Apple is the largest tech company in the world. They don’t work with anyone. They only work with the best. Had a rumor sparked up that some no-name EV company and Apple were working together, the market wouldn’t have believed it, because it’s unbelievable.
- The market believes Lucid Motors/Apple rumors, because they’re believable — and they’re believable because Lucid Motors has the most talented team of managers, engineers, and designers in the EV space outside of maybe Tesla (NASDAQ:TSLA).
- This unrivaled confluence of talent will do something special. Whether or not that “something special” is build cars for Apple remains to be seen. But, long-term, Lucid Motors will do something special.
- In our opinion, we see Lucid Motors unseating Tesla as the leader in the premium EV category in the first half of the 2020s, and by the back-half of the 2020s, emerging as a formidable second-fiddle to Tesla along the entire EV price chain.
- Long-term, this is the next Tesla.
CCIV Stock Price Forecast
- When it comes to CCIV stock, execution risks remain large.
- Lucid Motors still needs to scale manufacturing, secure its supply chain, expands its retail footprint, and much more. A lot can go wrong between now, and the company selling millions of cars a year — indeed, so much can go wrong that Lucid Motors may never get there.
- But, if management executes, this company will be huge, and CCIV stock will be a multi-bagger.
- We believe management can execute. This team is seasoned enough, smart enough, and diverse enough to manage through execution risks over the next few years.
- That’s why we are big long-term believers in CCIV stock.
We are 100% confident that electric vehicles will entirely replace gas-powered by cars by 2040, thanks to improving EV technology, falling battery costs, shifting consumer demand to eco-friendly products and increasing supply of EVs.
But — even as huge electric vehicle bulls — we acknowledge that most of the EV startups in the market today will go bankrupt.
Just look at what happened with the emergence of gas-powered cars in the early 1900s. About 500 car companies emerged from 1900 to 1910. By 1930, less than 50 were still in operation — and only three them of controlled 80% of the market.
The EV Revolution will play out similarly. There are hundreds upon hundreds of EV companies out there. Most of them will fail over the next decade. But the ones that succeed will turn into huge winners.
Lucid Motors will be one of the ones that succeeds — and CCIV stock will be a 10X winner as a result.
But it’s far from the only long-term winner in the EV revolution. There are handful of other EV stocks that will also soar 10X, and I’ve included all of them in my brand-new venture-capital-style research service, Innovation Investor. That service is dedicated at investing in the market’s most promising technology companies with huge long-term potential. The goal? Score you 10X gains (or more) over the next decade.
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
By uncovering early investments in hypergrowth industries, Luke Lango puts you on the ground-floor of world-changing megatrends. It’s how his Daily 10X Report has averaged up to a ridiculous 100% return across all recommendations since launching last May. Click here to see how he does it.