CCIV Stock Forecast
The US electric car maker Lucid announced its Q3 results on Monday, which caused the share to rise by over 5% after the market closed.
The company announced to investors that customer reservations rose to 13,000 during the quarter. Which reflects an order backlog of approximately $ 1.3 billion. The number has since increased to over 17,000.
Lucid began manufacturing customer vehicles at its Casa Grande, Arizona factory and delivered the first cars to its customers this quarter. In addition, on the Monday before trading began on Wall Street, it was announced that the Lucid Air is the MotorTrend Car of the Year 2022.
As Tesla stock continues to lose ground, the challengers revolt. Competitor Rivian is even more than ten percent steep. The rally is fueled on the one hand by a newspaper report, on the other hand by the infrastructure program of the Biden administration.
In addition, US President Joe Biden will sign the Billion Dollar Infrastructure Act on Monday. And with that tick off the first part of his party’s extensive economic agenda. 7.5 billion dollars are to flow into the expansion of the infrastructure for electromobility.
Trade Team Forecast
We rate the share as extremely risky. With the government investing $ 7.5 billion in infrastructure, let’s hope the stock will rise again. We recommend holding the stock for now. Probably not to buy as better stocks are on the market right now.