the long way downunder
Well-Known Member
Lucid has practically nothing in common with Rivian.I bought 1000 share of Lucid several works ago.
There's been the expectation of a mega billion dollar middle east speculative fund will buy all or most of Lucid.
This is the same ruthless oil cartel capitalists who tried to buy Tesla and dupe its CEO into thinking he would have a privately held company.
That doesn't even begin to explain a 40% pop that returns $LCID to a few steps up the fire escape it has been falling down for over a year. Shorts tend to be easily squeezed in these near penny stocks, they close out their position reflexively.
This 43% gain is money to be taken off the table. It won't happen again and it could all be gone before I finish typing this sentence.
If LCID holds this $12-ish price after the open on Monday, the derivatives show a $10-19 price expectation of 25% over the next 20 days. That's bullish compared to the "slow death march" expectation 48 hours ago. So $LCID may be in play as a takeover candidate – that's time to take profits and close or at least reduce the position to a small, manageable size. The move up 40% is much more work than the move down 50%.
I hope Rivian stays well away from these sorts of "funding secured" games.
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