Lucid Stockholders Meeting (June 9th)

[mnewber1]

This can’t be good for Lucid’s quarterly numbers.

We should find out how the recall and such has affected numbers next Thursday.

 

[steveairgt]

We should find out how the recall and such has affected numbers next Thursday.

What is happening next Thursday may I ask? The quarter doesn’t end for about 3 more weeks. Then ER is more than a month later.

 

[DJL]

What is happening next Thursday may I ask? The quarter doesn’t end for about 3 more weeks. Then ER is more than a month later.

It is a stockholders meeting. If you owned Lucid stock by a certain day in early April (I can't remember the exact date) you should have received an announcement with a request to cast votes in person or by proxy. You can read the stockholders report and the votes to be taken on the Lucid Motors web site under "Investors". Or just click HERE. Some members of this forum are hoping that current issues of recall, production and delivery status which are near and dear to all of us will also be decussed. However, I would be very surprised at that. Usually, these meeting are pretty pro forma as the major stockholder(s) really control these meetings. However, we shall see...

 

[MPawelek]

I have been to dozens of stock holders meetings in the past and would be really surprised if the current manufacturing problems were talked about much at all. Just mentioned in passing would be more like it. Stockholders meetings are geared to pump up the view of the company and giving out bad news is not on the agenda.

 

[steveairgt]

I have been to dozens of stock holders meetings in the past and would be really surprised if the current manufacturing problems were talked about much at all. Just mentioned in passing would be more like it. Stockholders meetings are geared to pump up the view of the company and giving out bad news is not on the agenda.

Thats what I thought. So we won't know whether they are on track to meet the 12,000 - 14,000 goal for the year.

 

[mnewber1]

I have my doubts anything negative will be said, for sure.

 

[joec]

All I want to hear is that confirmations for Touring are starting soon. A date would be icing on the cake.

I know deliveries won’t happen until Q4 at least, and mine in Q12023, but that’s not even going to happen if confirmations don’t start by July.

 

[mnewber1]

All I want to hear is that confirmations for Touring are starting soon. A date would be icing on the cake.

I know deliveries won’t happen until Q4 at least, and mine in Q12023, but that’s not even going to happen if confirmations don’t start by July.

The scary thing is they changed their verbiage from "Q3" in the Q4'21 meeting to "second half of the year" in the Q1'22 meeting.

 

[joec]

The scary thing is they changed their verbiage from "Q3" in the Q4'21 meeting to "second half of the year" in the Q1'22 meeting.

I’m still wondering what the strategy is on delivering more AGT at higher profits, vs having to admit they didn’t ship Touring OR Pure in 2022. And if they don’t ship either, won’t that necessarily mean they got nowhere near their 10k guidance? There can’t be over 10k AGT orders out of 30k.

 

[MPawelek]

Well, The bad news is that many of us with GT orders haven’t received our VIN’s yet….

 

[mnewber1]

Did they have a stockholders meeting last year, or likely not since they were still CCIV?

 

[steveairgt]

This all the reasons that even though I'm still waiting on my AGT VIN, I'm also a stockholder and thus I expect the stock to drop in the short term when they again lower guidance.

 

[joec]

This all the reasons that even though I'm still waiting on my AGT VIN, I'm also a stockholder and thus I expect the stock to drop in the short term when they again lower guidance.

I think they will hold out on lowering guidance as long as possible, precisely because of the stock hit. Perhaps Q4 meeting. They could always claim at that point that 10k was still possible until then. Heck, if they are anywhere near 10k, I’d even say they may wait until Q1 to say anything. Just announce the actual miss?

 

[DeaneG]

This all the reasons that even though I'm still waiting on my AGT VIN, I'm also a stockholder and thus I expect the stock to drop in the short term when they again lower guidance.

I'm waiting for that, the other shoe to drop, then I'll probably buy some. Thought about it at $13 but thought too long.

 

[mnewber1]

If they lower guidance again wouldn’t it have to be before the year’s end? So like Q3’22.

I know at the Q1’22 they were very adamant about still meeting the guidance. Important to note that this guidance is for production, not deliveries.

 

[joec]

If they lower guidance again wouldn’t it have to be before the year’s end? So like Q3’22.

I know at the Q1’22 they were very adamant about still meeting the guidance. Important to note that this guidance is for production, not deliveries.

Yes. Correct. Q4 meeting would be after year's end. I meant the last meeting of the year, which would be Q3. Unless they do it as a "ooopsie" announcement sometime in December. But that might be pushing their luck.

 

[joec]

Another thing I'd like to hear about in the Shareholder's meeting: More studios and service centers. I sincerely hope they announce they are ramping up those efforts. Maybe even get an opening date for many of the "coming soon" locations on that page?

 

[steveairgt]

At the next ER they really must either reaffirm guidance or change it. The market and the SEC expects honesty. If they really think they have issues in staying with the current guidance they must say something.

They can certainly say nothing till ER but at the next ER they must discuss it. Especially if when the year ends and they totally miss the numbers and are not even close, they will loose all credibility with the market.