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Why Lucid Stock Just Popped 6%
LCIDLucid (LCID) The Motley Fool·2024-06-26 17:14

Last night, rival EV-maker Rivian Automotive (RIVN 23.16%) announced that Volkswagen (VWAGY -1.54%) is giving it a 5billioncashinfusion(total,overthenextthreeyears)andestablishingajointventurewherebyVWandRivianwillcombineforcestoproducenewelectricvehicles.Plus,AstonMartinisactuallysmallerthanLucid(aboutone−quarterthemarketcap).AndunlikeVolkswagen,whichhasmorethan5 billion cash infusion (total, over the next three years) and establishing a joint venture whereby VW and Rivian will combine forces to produce new electric vehicles. Plus, Aston Martin is actually smaller than Lucid (about one-quarter the market cap). And unlike Volkswagen, which has more than 53 billion in cash on its books, Aston Martin has less than half a billion -- less than Lucid's $4 ...