Key Takeaways: Lucid Motors (NASDAQ: LCID) is a leading American electric vehicle manufacturer. The company's flagship model is the Lucid Air, an all-electric luxury sedan with over 400 miles of range.
The holding group behind Lucid Motors debuted on the stock market through their IPO which was completed on July 26, 2022. This means you can now buy Lucid stocks through any licensed broker in the United States such as eToro, E*TRADE, TD Ameritrade and Charles Schwab.
How to Buy Lucid Motors (LCID) Stocks
If you want to buy Lucid Group, Inc. (LCID) stocks in the US, there are a few things you need to know first. To get started quickly, we have outlined a quick guide to buying Lucid (NASDAQ: LCID) as a complete beginner:
- Find a reputable online broker. Make sure it is registered with the U.S. Securities and Exchange Commission (SEC) and that they offer Lucid Motors stocks. We recommend eToro.
- Create an account and deposit funds. You will need to provide some personal information and documents to verify your identity.
- Once approved, you can fund your account with a bank transfer or credit/debit card.
- Select Lucid Motors from the list of stocks and specify how many shares you want to buy. Review the total cost of your order and submit it.
What is Lucid Motors?
Lucid Motors is an American luxury electric vehicle manufacturer headquartered in Newark, California. The company was founded in 2007 by Bernard Tse and Sam Weng, who were early executives at Tesla Motors. Lucid Motors is privately held and backed by several high-profile investors, including Saudi Arabia's Public Investment Fund, Silver Lake Partners, and the Abu Dhabi Future Energy Company.
Lucid Air vs Tesla Model S
The Lucid Air is a luxury all-electric sedan with a range of over 400 miles on a single charge. The Lucid Air is significantly cheaper than the Tesla Model S, starting at $87,400. The Lucid Air also has a much longer range than the Tesla Model S, which has an EPA-rated range of 375 miles.
The Lucid Air is also significantly lighter than the Tesla Model S, weighing in at 4,680 pounds. This weight advantage gives the Lucid Air a better power-to-weight ratio, which results in better acceleration. The Lucid Air can accelerate from 0 to 60 mph in 2.5 seconds, while the Tesla Model S takes 3.5 seconds.
Is Lucid Motors a Good Stock to Buy?
Lucid Motors is a good stock to buy for several reasons. First, the company has strong growth potential. It is expanding its product line and continues to invest in new technology. Second, Lucid Motors is a well-run company with a strong management team.
Finally, the stock is reasonably priced, trading at just over 10 times expected earnings. Investors looking for a growth stock with good value should consider Lucid Motors.
Risk factors to consider include the company's small size and its reliance on government subsidies. Lucid Motors also faces competition from well-established automakers. Overall, though, the company looks like a good long-term investment (not financial advice).