$Lucid Group Inc(LCID)$ LCID did close in AH above the 22 resistance I had pointed out before. While I'm holding onto some shares, I'm still hedging. While the 500 mile EPA range is good news for Lucid, it only applies to the Lucid Air Grand Touring model, which starts at $139,000. Being a very big car helps hold all of the batteries it requires to accomplish, but that's a different story. However, the over excitement of this 500 range news is kind of ridiculous when you put things into perspective. LCID has a very big hill to climb because it can't scale this range into a more practical car at a more practical price point to ensure more sales, which equates to more gross sale numbers. And what wall street expects is great numbers to justify higher PPS. Lucid needs to introduce a mid size vehicle in the $45-65k range that can hit a range of 400+ miles....Then the stock will take off. While deliveries of Lucid vehicles waiting until Fall 2021 or possibly beyond, my expectations are this isn't the last time we've seen LCID below 20 once this rally is over. I'm not bearish just realistic. I am long on Lucid, but with more reservations than I do with my other EV holdings. Keep holding. But keep a stop loss.
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