LCID just went below $8

[RM-S8]

Yea me too -- looking every day. I was having fun then mortality tapped me on the shoulder. I used to manage our joint finances and do our taxes. At some point, and I missed this one big time, you are in a place where you need professional help; you realize the wife can't just pick up where you left off. wow.

At the interview I learned about tax strategy. That alone is worth hiring a pro. Not only do they do my taxes now, they set up foundations where money I would have sent to the government so they can use it to investigate Hunter's dic pics, goes to fund Quaker school educations for kids who can't afford it. This is in addition to regular charitable contributions. It makes you feel heroic, and costs you nothing.
They set up a family trust, and a trust for my invalid sister to care for her the rest of her life. They have fantastic spreadsheets that show a time line of growth such that you never have to worry, with 99% certainty (your greed my vary).

Basically, we pay them to worry about our financial security.

I stopped trading and trust them completely. Looking for a new hobby. No regrets.

BUT, and does anyone else have this problem? ... when you have taken care of basic needs ... who are you?
at a party: "So what do you do?" "Ahhh ... I'm retired." (conversation dies) "Well, what did you used to do?"
"Well, I used to masturbate all day and check my portfolio." "Well, that's great. Why did you stop?" "I hired someone to check my portfolio." "So now you just masturbate all day?" "Pretty much." "So you're a wanker?" " I guess."

Capitalism defines us by the work we do. With out a job you are just another wanker. You are trivial, a drain on society.


Suddenly I find I need a philosophy. When you get to the big questions, checking your portfolio doesn't make the cut.

Love capitalism.

 

[quantum]

@nevadagame your post was spot on and very professionally written! I’ve been a Grand Tourinf owner for 9 months and juts as disappointed as I with the quality of the software. However every time I’ve posted about this and mentioned how unacceptable this is for a car priced in this range I’ve been equally viciously attached by these same folks and told to sell my car! They don’t want to hear any criticism!

Patience is a virtue. Software will show continued improvement. Car can only get better, right? Tesla doesn't even have a proper blindspot monitor, autobeam is a mess ...these are things that work fine in a 20k car. Lucid is much better in that regard.

 

[RM-S8]

Patience is a virtue. Software will show continued improvement. Car can only get better, right? Tesla doesn't even have a proper blindspot monitor, autobeam is a mess ...these are things that work fine in a 20k car. Lucid is much better in that regard.

Yup, it took Tesla 9, or 10 years to turn profitable.

 

[noobzilla]

Capitalism defines us by the work we do. With out a job you are just another wanker. You are trivial, a drain on society.
Suddenly I find I need a philosophy. When you get to the big questions, checking your portfolio doesn't make the cut.

My mom and bro was recommending me to do stocks even when I was still in high school and college. They saw me buying and selling items both tangible and digital goods for profit.. able to time when to buy and sell. I played those MMO RPG video games and I never had to pick up "professions" to make money haha. I just read the market trend, basic supply and demand, timing. Buy and sell. I had fun doing them too. Bro was pushing me to do stocks but I refused to.

My philosophy back then was I didnt want my life to revolve around money more than it already does (stocks is about $$) and wanted something more meaningful.

Fast forward I got to a point in life where I got jaded with that "something meaningful" work. I got financially desperate and realized stocks could be my only way out. I took a gamble of my entire $10k savings. Mom also started sending her money for me to manage. I did get very lucky for the most part and was able to get myself out of that dreadful financial situation, was able to get downpayment for a house, give my mother her dream car, etc.

My philosophy changed when I had more money than I really wanted and it wasn't financially painful to donate some for good cause. I wasn't and still don't consider myself rich. I'm actually just slightly above middle class, but comparing where I came from and having a modest wish list, I feel riiiich and grateful haha. My mom visits this foster care and buys them Christmas presents. Then COVID happened so I donated more too for groceries and supplies. I had a realization that it's not necessarily bad to work about money for money. Could aim to make myself super rich and I can do many wonderful things with money. It's just where I'm from that I learned to associate wealth and money with greed and corruption. In the end, it's how one obtains and uses wealth.

Sure you'd be a wanker, but you get to choose what kind of wanker you want to be. You can be a drain, trivial wanker or the greatest wanker of em all who helped and made wanking possible for others.

 

[hydbob]

How often do you look at your account? Ive developed a bad habit of checking stocks too frequently throughout the day though that was a necessary habit back in my day/swing trading days but now it's unnecessary stress.

Perhaps I don't understand the essence of long term investments since I don't believe I'd reach retirement age so I dont have anything on retirement accounts haha I really need to get out of that mentality though. I don't think I've held any stocks longer than 1 year. I've mostly done swing tradings and then 2 years of full time day trading and now transitioning to longer term investing except I just sold all my stocks yesterday lol.

I'm at 400% gain total for the past 4 years though lost a lot from day trades and shorter swing trades. Looking back at my trades and stocks that I had strong faith in , I wouldve done better with long term investments after my initial lucky trades. Those are companies with good products that people would have appetite for long term and solid leadership and goals. Lucid have a good product with its Air so I'll get back to it eventually, just unlucky timing with the covid and bad market conditions.

I look every day, but it just doesn't phase me. I would venture to say almost everyone on this board has seen their retirement reduced my roughly 30% over the past year. But, you do have to realize, especially for current owners, that we are in the position to afford this type of car for a reason and that the risk we have taken in a company like Lucid, first product first year etc means the owners have a higher tolerance for risk.

 

[HariK]

I look every day, but it just doesn't phase me. I would venture to say almost everyone on this board has seen their retirement reduced my roughly 30% over the past year. But, you do have to realize, especially for current owners, that we are in the position to afford this type of car for a reason and that the risk we have taken in a company like Lucid, first product first year etc means the owners have a higher tolerance for risk.

Agreed. Also staying power with cash or guaranteed income to ride out the stock market dip once we buy.

 

[Cosmo Cruz]

it occurs to me that one of the reasons i get in trouble here (multiple posts cross headers) is the folk here are the best party you ever unexpected. Someone posts on topic and makes a side that pushes me to riff...and I can't see what the subject line is right now, as I type drunk and high and estatic about a flawless 40 mile ride in central MontCo, with Luci warming my hands and back and fat ass, and playing my podcast (the car is so quiet...audio is awesome) ... what was the question ?

peace on earth

 

[SDHacker]

Yup, it took Tesla 9, or 10 years to turn profitable.

Tesla formed in 2003. MS introduced 2012. First full year profit 2020 but only because carbon credits sold to ICE manufacturers took them over the top ($1.5B in credits, $720M in net income). 2021 was first year they turned a profit strictly on car sales. It'll be interesting to watch how Fisker, Lucid and Rivian compare with that timeline.

 

[MoniputerLM]

Tesla formed in 2003. MS introduced 2012. First full year profit 2020 but only because carbon credits sold to ICE manufacturers took them over the top ($1.5B in credits, $720M in net income). 2021 was first year they turned a profit strictly on car sales. It'll be interesting to watch how Fisker, Lucid and Rivian compare with that timeline.

And in those un-profitable years, Tesla build multiple Giga Factories and a huge charger network. Now they make more profit per car than any other company.

 

[quantum]

And in those un-profitable years, Tesla build multiple Giga Factories and a huge charger network. Now they make more profit per car than any other company.

More profit per car because of lousy service, cheaply built cars- reminds me of a lunch box. The stock price is a testament to manipulative snake oil selling by Ego Musk. Robotaxis in 2018- remember. Bloody LIAR! And of course her highness Cathy Wood comes out with a $4000 price- where is it now? Now they want to kick Ego Musk out from CEO poistion. I say stock has another 30-40% to drop as competition is getting intense and Musk alienated half the country.

 

[babwine]

According to a report, LUCID is hiring in China. Here is link to article. Have no idea if accurate but if it is, certainly suggests LUCID is expanding.

According to Chinese report US Electric Carmaker Lucid Motors Is Hiring in China - EV EDITION

Dec. 15 — Lucid Motors is recruiting staff in China, after the US electric vehicle maker kicked off a plan to enter the Chinese market as early as next year. |Source : (Yicai Global) | Keep note : Lucid has not mentioned china once in earnings and have not referred China in any transcripts...

ev-edition.com

 

[digiboxer]

According to a report, LUCID is hiring in China. Here is link to article. Have no idea if accurate but if it is, certainly suggests LUCID is expanding.

According to Chinese report US Electric Carmaker Lucid Motors Is Hiring in China - EV EDITION

Dec. 15 — Lucid Motors is recruiting staff in China, after the US electric vehicle maker kicked off a plan to enter the Chinese market as early as next year. |Source : (Yicai Global) | Keep note : Lucid has not mentioned china once in earnings and have not referred China in any transcripts...

ev-edition.com

I just don't see how you do this stuff without the advice and consent of your 61% shareholder--which means the Saudis are in for the long haul. Having worked the public market to near-perfection, the question is will they take Lucid private....?

 

[hydbob]

I just don't see how you do this stuff without the advice and consent of your 61% shareholder--which means the Saudis are in for the long haul. Having worked the public market to near-perfection, the question is will they take Lucid private....?

Sure, buy me out at $100/share

 

[NoseyReporter]

They executed part of their shelf right? Registered for 8 billion and executes 600M. But no announcement that it is complete?

I'm looking to add to my position, but trying to time around offerings.

 

[quantum]

I just don't see how you do this stuff without the advice and consent of your 61% shareholder--which means the Saudis are in for the long haul. Having worked the public market to near-perfection, the question is will they take Lucid private....?

I wouldn't think so, they made a mistake with TSLA. Lucid has a lot of diehard fans. They can make more money keeping Lucid public vs private. If it goes private, people will see it has a Saudi company, not American.

 

[digiboxer]

Sure, buy me out at $100/share

HA!...I'm guessing the Prince has a different idea about where the decimal point goes....

 

[SDHacker]

And in those un-profitable years, Tesla build multiple Giga Factories and a huge charger network. Now they make more profit per car than any other company.

Most profit per car by a mass producer. Ferrari is #1 at about $106k/car while Tesla is #2 at about $7k/car which is way ahead of #3 (source: motor1).

 

[NoseyReporter]

They executed part of their shelf right? Registered for 8 billion and executes 600M. But no announcement that it is complete?

I'm looking to add to my position, but trying to time around offerings.

There were go offering done.

 

[noobzilla]

I think I will buy 5k shares tomorrow

 

[HC_79]

I think I will buy 5k shares tomorrow

I'm still in a wait and see position. It has gone up 5% in after hours trading based on the PIF announcement but just need Elon to tweet some more stories to tank it before year end and then I'll swoop in. Haha!