- NASDAQ: LCID gained 6.29% during Thursday’s trading session.
- Anticipation rises as Lucid approaches a late-October delivery date.
- Ford reports a year over year decline in September deliveries.
NASDAQ: LCID reversed its recent downtrend and managed to cruise past its competition on Thursday. Shares of LCID gained 6.29% and outpaced the broader EV sector, closing the trading session at $24.01. The stock is trading above its 50-day and 200-day moving average now, and a key catalyst at the end of the month could push the price to the next level. Lucid outgained most of its peers on Thursday as it rode the broader market rally higher into the close. Lucid outgained Tesla (NASDAQ:TSLA), Nio (NYSE:NIO), XPeng (NYSE:XPEV), and Li Auto (NASDAQ:LI) on Thursday, as EV stocks returned mixed results.
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Anticipation is building amongst Lucid’s vocal shareholders as the company approaches its late-October time estimate for the first deliveries. Lucid previously announced that the first Air Dream sedans were on the production lines at its AMP-1 facility in Arizona during its Production Preview week. Meanwhile those customers with reserved vehicles are anxiously awaiting their deliveries, especially as numerous positive reviews have been released over the past few weeks. Watch for Lucid’s stock to continue rising higher over the next couple weeks.
LCID stock price forecast
While Tesla smashed its September and quarterly delivery figures last week, other automakers are not faring as well. Legacy automaker Ford (NYSE:F) is in the middle of a rebranding that will see a heavy emphasis on electric vehicles in the future. Unfortunately for Ford, it has been a company that has been hit hard by the global chip shortage. Deliveries in September fell by 17.7% year over year, and a staggering 80% year over year drop in car sales. The lone bright spot is that this represents a more than 30% sequential monthly increase in sales from August.
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