Production Preview Week 1 is on deck for Lucid Motors (NASDAQ:LCID), and people are taking notice. After all, this is a literal door-opening event, and LCID stock is up a few percent today alone. And there’s still more to come.
Long story short, Lucid Motors has long claimed to be making the world’s best electric vehicles.
It’s one thing for a company to say it’s capable of disrupting the entire EV industry with technologically unparalleled vehicles. But it’s another thing to back up those big claims with proof.
And that’s exactly what Lucid Motors is hoping to do by welcoming the public into its Casa Grande production facility, dubbed its “Advanced Manufacturing Plant 1,” or AMP-1.
Journalists, policymakers, some investors and some customers will, for the first time ever, be able to walk into AMP-1, play with Lucid’s tech and even take a ride in a Lucid Air.
The market is bullish that this event will go swimmingly. And we think this bullishness is appropriate.
Any time Lucid Motors has been tasked with backing up its talk with some walk, its succeeded.
Perhaps the most prominent example was Lucid’s claim that its Air EV had 500-plus miles of range. And just recently, the EPA gave it an official 500-plus mile rating. (520 miles, to be precise.)
The walk matched the talk. And we think the walk will match the talk for Production Preview Week 1 as well.
What That Means for LCID Stock
LCID stock flew from $20 to $27 in a matter of weeks after the previously mentioned EPA rating, and we expect Production Preview Week 1 to have a similar impact on share prices. We could very easily see the stock shoot above $30 and toward $35.
And guess what? Even at those levels, the stock still wouldn’t be overvalued.
We think this company has a unique opportunity to be a Tesla-like investment. And as such, long-term believers should be inclined to hold this stock through all ups and downs over the next few years. In the end, we suspect these patient shareholders will be up massively on their initial investment.
Tesla made “Teslanaires.”
We believe Lucid Motors will make “Lucidnaires.”
The only question that remains: will you be one of them?
Obviously, LCID is one of my top picks, and I believe Lucid stock will score investors big returns over the long haul … but it’s far from the only hypergrowth stock on my radar.
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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.