Lets go!
LOOK WHO DECIDED TO WAKE UP..... LETS GO LCID
- Thread starter Macrocosmcwh
- Start date
5.90 16.11% today
Per the interwebs, it is because of this:
Why Lucid (LCID) Stock Is Up Today. What Happened?
Shares of luxury electric car manufacturer Lucid (NASDAQ:LCID) jumped 8.5% in the afternoon session after investor enthusiasm continued to build around its role as the dedicated vehicle supplier for Uber and Nuro's autonomous robotaxi program.
Lucid is set to provide its Gravity SUVs and future midsize vehicles for the ride-hailing service. The company is already building production-validation robotaxis at its Arizona facility for testing and safety validation. A commercial deployment is planned for 2027, starting in the San Francisco Bay Area and then Houston. Additionally, Lucid is assembling an engineering fleet of nearly 100 Gravity-based robotaxis in California and Texas for the program. This partnership provides Lucid with a significant entry into the autonomous ride-hailing market.
Why Lucid (LCID) Stock Is Up Today. What Happened?
Shares of luxury electric car manufacturer Lucid (NASDAQ:LCID) jumped 8.5% in the afternoon session after investor enthusiasm continued to build around its role as the dedicated vehicle supplier for Uber and Nuro's autonomous robotaxi program.
Lucid is set to provide its Gravity SUVs and future midsize vehicles for the ride-hailing service. The company is already building production-validation robotaxis at its Arizona facility for testing and safety validation. A commercial deployment is planned for 2027, starting in the San Francisco Bay Area and then Houston. Additionally, Lucid is assembling an engineering fleet of nearly 100 Gravity-based robotaxis in California and Texas for the program. This partnership provides Lucid with a significant entry into the autonomous ride-hailing market.
That’s old news….it went down for no reason and got oversold, primed for a reversal.
- Joined
- Nov 19, 2021
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- Location
- Cupertino, CA
- Cars
- Air DE-P, Gravity DE
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- Gravity DE Number
- 013
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The stock is over shorted. There are not enough shares to cover the shorts, because people have been shorting it nonstop.
So it has gone up because the shorts are losing right now and cannot close their positions at a profit. It goes down because the shorts are selling, hoping they can buy it back at a lower price after it drops.
That’s it. It’s not magic. It’s short sellers.
Whatever Lucid tweets will not make nearly as much of a difference as that.
And in the long run, it makes no difference to Lucid’s future success either way, as long as they don’t get delisted.
So it has gone up because the shorts are losing right now and cannot close their positions at a profit. It goes down because the shorts are selling, hoping they can buy it back at a lower price after it drops.
That’s it. It’s not magic. It’s short sellers.
Whatever Lucid tweets will not make nearly as much of a difference as that.
And in the long run, it makes no difference to Lucid’s future success either way, as long as they don’t get delisted.
