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Lucid Group Is Challenging Tesla and Is Up 7% Today – Here’s Where to Buy It

September 30, 2021
in Trading
Reading Time: 3 mins read
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Lucid Group Is Challenging Tesla and Is Up 7% Today – Here’s Where to Buy It
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Lucid Group has announced its expansion plans and the delivery of electric luxury sedans in October. The cars boast Tesla-beating driving performance.

The EV (electric vehicles) industry is on the rise. Tesla has long been in the headlines, attracting all types of investors. Now, another startup, Lucid Group, is quickly gaining ground, threatening Tesla’s leadership position. Let’s find out how it may beat Tesla’s staggering growth and whether you should add this stock to your portfolio right now.  

How & Where to Buy Lucid Group Stock Online

Lucid Group (NASDAQ: LCID) is an innovative startup. If you want to become a supporter of the nascent EV industry, you can invest in its stock by registering with one of our recommended brokers:

eToro

eToro is one of the world’s leading multi-asset trading platforms offering some of the lowest commission and fee rates in the industry. It’s social copy trading features make it a great choice for those getting started.

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Pepperstone

Pepperstone was founded in 2010 in Melbourne, Australia by a team of experienced traders with a shared commitment to improve the world of online trading. Frustrated by delayed executions, expensive prices and poor customer support, they set out to provide traders around the world with superior technology, low-cost spreads and a genuine commitment to helping them master the trade. Their mission is to create a world of tech-enabled trading where ambitious traders can embrace the challenge and opportunity of global markets.

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What Is Lucid Group?

Lucid Group is a U.S. startup that manufactures luxury cars. Its first luxury vehicle, known as Lucid Air, is the longest-range EV on the market, reaching 520 miles. In October, the company will start commercialising its Pure, Touring, and Grand Touring models.

Should I Buy Lucid Group Today?

Lucid Group stock price soared yesterday after finally telling its investors what they have been waiting for: it’s finally begun commercial production, with deliveries scheduled for October.

Although its offering is not already on the market, Dream Edition is the most expensive model, and all of its reservations are sold out. With a planned capacity of 520 vehicles, Dream Edition has a starting price of $169,000. Overall, Lucid Groups currently has 11,000 paid reservations and a total of 13,000 across all models.

Further, the company announced its expansion plans, namely to boost the Air production by adding 2.85 million square feet to its manufacturing plant. This is also the first step towards producing its first SUV, planned for 2023.

The company is living up to its promises, so investors showed unbounded enthusiasm.

Lucid Group Price Prediction 2021

Lucid is currently trading at $26.28. It is expected to reach a high target price of $30 in the next 12 months.

Credit: Source link

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