Long Position on LCID @ $10.65 on 2/17/2023 (Momentum)

Lucid Group, Inc. (LCID) a technology and automotive company, develops electric vehicle (EV) technologies. 

The company designs, engineers, and builds electric vehicles, EV powertrains, and battery systems.

As of December 31, 2021, it operates twenty retail studios in the United States.

Lucid's mission is to inspire the adoption of sustainable energy by creating the most captivating electric vehicles, centered around the human experience.

ON NOVEMBER 8TH, LCID reported a 3rd Quarter September 2022 loss of $0.40 per share on revenue of $195.5 million. The consensus estimate was a loss of $0.33 per share on revenue of $209.1 million. Revenue grew 84,148.7% on a year-over-year basis.

Shares are rebounding from a "trendline support" and higher share prices are expected.

Entry Point: $10.65

Stop Loss: $10.00

Trading Range: $6.09 to $30.12

Target Price: $12.00

Position closed on 2/21/2023 at price of $10.00 with a -6.10% loss in 4 days.

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