Lucid climbs as excitement builds around the EV maker's 1st deliveries of its luxury Air sedan
- Lucid stock extended gains Friday as excitement continued to build around its Dream Edition sedans.
- The company earlier this week confirmed that customer deliveries will begin on October 30.
- Lucid was the most mentioned stock in Reddit's WallStreetBets in the past 24 hours.
Shares of Lucid Group extended their gains Friday as excitement continued to build around the electric-vehicle startup's first Dream Edition Lucid Air sedans.
The company earlier this week confirmed that customer deliveries of its $169,000 cars will begin on October 30.
Lucid was mentioned 683 times in Reddit's WallStreetBets in the past 24 hours, by far the most talked-about stock, based on data from Quiver Quant. Amazon was the second most-discussed stock with 454 mentions.
Lucid's stock was up 2.34% at $36.31 as of 11:56 a.m. ET Friday. On Thursday, shares closed up 31% and hit an intraday high of $39.78 - the highest since the SPAC merger with Churchill Capital IV Corp. was completed on July 26.
For the week, the stock is heading for a gain of more than 50%. However, it still hovers way below its 12-month high of nearly $65 a share in February when it was announced that it was going public.
Lucid, founded in 2007 as Atieva, is often viewed as a Tesla competitor with its high-end luxury electric vehicles.
Lucid's Dream Edition is a special edition of its flagship sedan. Customers who ordered it were invited to pick up their vehicles on Saturday from Lucid's headquarters in California. In total, Lucid plans to deliver 520 customer-configured Dream Editions.
The EV maker's so-called "Dream Delivery" bonanza this week came after it announced the start of production at its factory in Casa Grande, Arizona.
Apart from the Dream Edition, the company also has Grand Touring, Touring, and Air Pure models in the pipeline. The company in September said it has received more than 13,000 total reservations.
