Learn about investing in Lucid Motors stock (LCID) now that the SPAC merger with Churchill Capital Corp IV (CCIV) is complete.
“The post-combination company will be renamed Lucid Group, Inc. and its common stock is expected to trade on Nasdaq under the ticker symbol “LCID” beginning on July 26, 2021.” Read the July 23rd press release.
Open an account with a commission-free online broker such as M1 Finance to buy LCID stock today.
The Lucid Motors stock symbol changed to LCID on Monday July 26th.
Lucid Motors Stock and IPO — Recent News
07/26/2021: Lucid Motors Debuts on Nasdaq Through Merger with Churchill Capital Corp IV
07/23/2021: Churchill Capital Corp IV Stockholders Approve Lucid Business Combination
07/22/2021: Churchill Capital Corp IV to Adjourn and Reconvene Special Meeting of Stockholders to Friday, July 23, 2021 to Allow Stockholders More Time to Vote on One Remaining Required Proposal for the Business Combination with Lucid Motors
07/22/2021: Lucid Motors’ $4.5 billion merger is being held up by spam filters
07/19/2021: The $20 Billion Winner of the American EV Startup Boom: Saudi Arabia
05/18/2021: Lucid Motors Tweets New Stock Symbol on the Way: LCID – Anticipated July 23rd
04/08/2021: WSJ Video: Not a Tesla – The Startups Racing to Make Your Next Electric Car
04/06/2021: Lucid Motors’ Tesla-Like Rollout Strategy Is Destined For Failure
03/29/2021: Lucid CEO Wants $25,000 Electric Cars
03/16/2021: Lucid Motors CEO on Apple car rumors: ‘I welcome the competition’
03/08/2021: Bloomberg: Inside the $156 Billion SPAC Bubble (Lucid mentions)
03/02/2021: Tesla vs. Lucid: Here’s how the EV rivals are and aren’t alike
02/26/2021: The Lucid Air’s Spring Launch Has Been Delayed
02/22/2021: Lucid Motors Investors Presentation (142MB, 74-page PDF download)
02/22/2021: Lucid Motors to Go Public in Merger with Churchill Capital Corp IV
What is Lucid Motors?
Lucid Motors is an electric vehicle (EV) manufacturer in the process of entering the marketplace for environmentally friendly luxury sedans. It is expected to rival Tesla, Rivian, and Nikola in the electric vehicle market, one of the fastest-growing automotive segments worldwide.
The company was founded by Bernard Tse and Sam Weng and was initially named Atieva to focus on batteries and powertrains. In 2016, they rebranded to Lucid Motors and began the development of an electric luxury vehicle.
Peter Rawlinson is now the CEO and will remain through the SPAC merger.
Lucid Motors has raised more than $1 billion in venture capital funding as of mid-2020. Prominent investors include Saudi Arabia’s Public Investment Fund, Venrock, Mitsui, and Jafco, and the China Environmental Fund.
Headquartered in Newark, CA., the company has approximately 500 employees.
Lucid’s mission is to:
Inspire the adoption of sustainable transportation by creating the most captivating luxury electric vehicles centered around the human experience.
Here’s a video about the car. Scroll down for an exterior photo.
Is Lucid Motors Publicly Traded?
On February 22nd, 2021, Lucid Motors announced that it would merge with Churchill Capital Corp IV (CCIV) SPAC, confirming earlier reporting by Bloomberg. The deal completed on July 23rd.
Investors can now buy LCID stock to own Lucid Motors. The Lucid Motors stock symbol changed from CCIV to LCID on Monday, July 26th.
Lucid Motors is not affiliated with Caliber Imaging Diagnostics (LCDX), formerly known as Lucid Inc.
When was the Lucid Motors IPO date or SPAC date?
Lucid Motors announced its SPAC merger with CCIV on February 22, 2021.
The transaction closed July 23rd after a one-day vote extension.
The company is still ramping up capabilities as an automobile manufacturer, and private funding has covered its employee and development costs so far.
However, due to the intense interest in electric vehicles and a healthy IPO market, a SPAC merger was the fastest and least costly way for Lucid Motors to become a publicly-traded company.
What is the Lucid Motors Stock Price?
Below is the current Lucid Motors stock price, with today’s change, the change since January 10th (Bloomberg merger scoop), and since February 22nd (formal SPAC merger announcement).
What is the Lucid Motors Stock Symbol, Lucid Motors Ticker?
The Lucid Motors stock symbol is LCID.
Lucid Motors merged with Churchill Capital Corp IV, whose stock symbol was CCIV.
Will Lucid Motors be a Motley Fool Stock Advisor Recommendation?
The combined Lucid Motors/CCIV will surely be evaluated as a potential Motley Fool Stock Advisor recommendation.
Lucid Motors stock fits the mold of high-growth, disruptive business models that the Fool typically recommends.
Considering the Fool’s early Tesla buy recommendation and push for forward-looking companies (especially in the EV space), I wouldn’t be surprised if Lucid Motors stock becomes a top pick.
When the Motley Fool recommends a company, there is usually an immediate spike in the price. Fool newsletter subscribers are notoriously long-term-minded and rarely sell, meaning the stock price will continue to rise.
Lucid Motors may also receive a recommendation by the Motley Fool Rule Breakers newsletter or other premium services. Both services have handily beaten the broader market since the early 2000s.
Read this Motley Fool Stock Advisor review to learn about their stock selection methodologies and how you can participate in excellent returns.
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Can you Buy Lucid Motors Stock Now?
Now that the SPAC deal is complete, you can buy Lucid Motors stock (LCID).
***This article is not a recommendation to buy CCIV. Invest at your own risk***
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Lucid Motors Lucid Air Commercial
Lucid Motors debuted its first commercial during an NBA basketball game on Christmas day, 2020. It has aired several times since then, including during the Rose Bowl and on CNBC.
Here it is:
What Happened with Lucid Motors and Churchill Capital Corp IV (CCIV)?
Churchill Capital Corp IV (CCIV), a special purpose acquisition corporation, and Lucid Motors merged as announced on February 22nd, 2021. The deal closed July 23rd.
The deal confirms January 11th reporting by Bloomberg.
Churchill Capital Corp IV was already a publicly-traded company. The acquisition made Lucid Motors a public company.
Here are some facts about the deal:
- CCIV and Lucid combined at a transaction equity value of $11.75 billion.
- The deal valued Lucid at an initial pro-forma equity value of approximately $24 billion at the PIPE offer price of $15.00 per share.
- The deal provided Lucid with approximately $4.4 billion in cash.
- None of Lucid Motor’s private investors sold stock in the transaction and were subject to a six-month lock-up for the shares they received in the transaction.
- Lucid had no debts at the announcement of the deal
Doing a traditional IPO would have taken longer and been more costly. The SPAC gives Lucid Motors the money it needs to expand production and begin delivery its luxury vehicles.
Other prominent CCIV Operating Partners include Sir Jony Ive (original designer of the iPhone) and Allen Mullaly, former CEO of Ford Motor Company.
Read more: Lucid Motors Investors Deck (142MB, 74-page PDF download).
This website has followed Lucid Motors for more than a year. The SPAC allows Lucid Motors to go public much faster than initially anticipated.
Startups are jumping on the SPAC bandwagon to go public while the markets and regulatory environment are good. Lucid Motors may lead the way for more SPAC deals.
If Lucid Motors is a truly remarkable business, the real money will be made over the next decade. Buy and hold investors will benefit if the company can deliver the vehicles.
Check out this list of the hottest upcoming IPOs for more investment ideas.
Lucid Motors News Archive
02/20/2021: Lucid Motors Is Said to Near Deal to Go Public via Klein’s SPAC
02/16/2021: Reuters: Lucid Motors nears SPAC deal as Klein launches financing
02/12/2021: First look inside Lucid Motor’s new factory in Arizona
02/09/2021: Lucid Motors reveals European deliveries will begin in the first half of 2022
02/03/2021: Lucid Motors suitor’s stock has tripled (CCIV) on belief a deal is coming
01/26/2021: Biden plans to replace government fleet with electric vehicles
01/22/2021: Lucid Motors prepares to go public thanks to Saudi money and SPAC mania
01/11/2021: Lucid Motors Is in Talks to List Via Michael Klein SPAC (BLOOMBERG ARTICLE)
01/15/2021: Unverified reports on Twitter – “Lucid plans to go public by April so they can start distributing vehicles by June”
01/13/2021: Cramer regarding Lucid Motors – “Yes, it’s one of the good ones” [Shows CCIV price quote] 01/08/2021: Lucid is in talks to build electric car factory in Saudi Arabia
12/04/2020: Lucid Motors completed its 1st factory in AZ where will build 400,000 EVs/year
11/30/2020: Construction is complete on our very first EV factory
11/17/2020: Tesla, Lucid, Rivian, and others join forces to create ZETA: a push for electric cars by 2030
11/17/2020: What Donald Trump Taught the Electric-Car Industry
11/13/2020: How the ‘Dead Zone’ Could Help This Car Take on Tesla
10/14/2020: Elon Musk announced Telsa cut the price of the Model S to $69,420 on the same day competitor Lucid Motors revealed the price of its cheaper Air sedan
10/11/2020: Inside Lucid Motors’ plan to take on Tesla
08/12/2020: Lucid Air Could Have An EPA Range Of 517 Miles
06/17/2020: Lucid Air Reveal Set For September 9th, Arizona Factory Set To Open This Year
02/20/2020: Lucid Factory On Pace To Begin Production Later This Year
12/03/2019: Lucid Motors Begins Construction Of Arizona Factory
Disclosure: This web page contains affiliate links from our partners. If a reader opens an account or buys a service from a link in this article, we may be compensated at no additional cost to the reader. Opening an account with a broker that provides access to IPOs does not entitle the customer allocations of specific IPOs. Car photo courtesy of the Lucid Motors Press Room. The author is long CCIV and TSLA.
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