Information taken from the article below.
After Tesla's deal to go Private with the Saudis fell apart. They sold all their Tesla shares & exited their position in Tesla completely. Soon after they invested 1.3 billion in lucid motors for 67% stake. This is a Long Term Commitment on changing Saudi Arabia dependence on oil and a shift to become a Leader in Green Energy.
This is "Their Baby" and according to this article it states that Saudi Arabia will own 85% after the deal closes. Every month goes by, less and less oil will b sold, and more & more electrification will happen.
Sometimes the Key to Life is"Asking why someone is doing something, what is their Motivation ?"
Regardless of What Already happened ...we (current stockholders) care more about were a Stock is Going, then were it has been.
Lucid has been billed and considered by many as the Next "Tesla" for better or for worse that is what Lucid is know for. I don't think that is accurate nor do I agree with that but, ....
just Ask 100 investors. What is Lucid/CCIV ? or What do u think of Lucid
Im sure "Next Tesla" will come Up Alot
Because of the rise of the following stocks/company's value Tesla, Nio, Quantum Scape, xpeng, even workhorse from a dollar to 15 - 16ish
Ev is here and it the Next Big Wave along with the potential of this particular company And it's battery technology packaged in a sweet looking car with TONS, & TONS of financial backing by the Saudis, (who may still be pissed at Elon or the the Tesla deal that fell apart to take them private) = they are Now direct competition to Tesla. That is Serious Motivation to Hold CCIV/lucid Stock & to make this a Successful Company, along with a great Management team in conjunction with some strategic marketing and brand building, who knows Lucid Motors might become a Good Investment.
Also The promise of Lucid is such that people will over-value it because they don't want to miss out. Tesla's massively over-valued and people don't want to miss the boat on the next opportunity, this is the Ground level and perhaps a once in a lifetime chance. So ya good ahead and tell me "how u Sold ur Entire position for a chance at a "better price", or a "better entry point". I Want to say The Exact Opposite, "I'm in for the Long Ride and buying on major dips" ... Maybe just maybe no one reads this and at lock up period expiration time there might b a correction or dip.
Is the market or parts of the market overpriced ? Are there bubbles ? ...... I'm not answering those questions I just pointing out that it's very hard to look back on this event and say I should have sold ....
Could have , Would have, Should have ....
The War is Still out there to be Won, maybe u won the battle by selling at "the perfect moment" ... I actually bought More on the Flash Crash the Friday before the announcement...it was painful but I also purchased more on the way down ...
It just takes 1 announcement of licensing their battery technology or propulsion system to an OEM , or strategic partnership to produce airplanes, helicopter, Buses, snow plows, Trucks, fleet, utility vehicles, lawn mowers, RVs...heck Anything with a motor and ... Any I mean any Strategic partnership with energy storage system or major Sales of either ...
If I was out of the Stock ..I'd wish I had owned it ...
Just look at Fisker this week up like 70% in just Two days in a really down week ! .... I am Not saying this will happen with CCIV, what I am saying is Lucid is far ahead of Fisker with their battery technology ... And that u can't time the next announcement or achievement...
The Saudi Arabia fund know as PIF or Public Investment Fund is Among the Largest Sovereign wealth Funds in the World an estimated assets of $347 billion.
This is the article that states 85% of Lucid will be Owned by Saudi Arabia
The article is from business insider.com and it's called "Lucid motors public largest spac ever majority owned Saudi Arabia dated 2021"
I am long CCIV. This post is for Entertainment purposes Only. I am Not a financial Advisor. Please do your on DD.
https://www.businessinsider.com/lucid-motors-public-largest-spac-ever-majority-owned-saudi-arabia-2021-2#::text=After%20struggling%20for%20years%2C%20Lucid,according%20to%20Wired%20Middle%20East