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Lucid (LCID) capitalisation gains 22%, surpassing Ford

By William Hoffman

21:01, 16 November 2021

Lucid shares surge following 3Q earnings - Credit: Lucid Group

Lucid Group is trading up by more than 22% on Tuesday giving the electric car startup a $87bn market cap, which is higher than Ford Motor.

The luxury electric car maker has yet to ship a car but reported that reservations to purchase vehicles yet to be built rose to 13,000 in the third quarter. In the weeks following the quarter ended 30 September reservations increased further to 17,000.

That sent shares 5% higher in after-hours trading on Monday and the momentum has continued on Tuesday. The stock price rose to a high of $55.37 per share on the day and is set to close at new all-time highs since going public through a merger with a special purpose acquisition company in July.

EV companies riding high

It has been a banner month for electric vehicle stocks.

Oil - Crude

71.41 Price
+2.320% 1D Chg, %
Long position overnight fee -0.0204%
Short position overnight fee -0.0015%
Overnight fee time 22:00 (UTC)
Spread 0.030


43,985.05 Price
-0.120% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00


2,004.85 Price
-1.180% 1D Chg, %
Long position overnight fee -0.0198%
Short position overnight fee 0.0116%
Overnight fee time 22:00 (UTC)
Spread 0.50


0.67 Price
-0.840% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168

Electric truck and SUV maker Rivian priced the largest initial public offering of the year in November and Tesla shares rose substantially, valuing the original electric car maker at more than $1trn – joining an exclusive group of mostly tech companies with that high a valuation.

Even legacy automakers General Motors and Ford are gaining in this environment as they roll out their electrification plans. Lucid passed Ford’s $79bn valuation even as Ford shares have gained more than 50% since the start of September to a price of $19.80 per share.

Read more: Lucid (LCID) stock price climbs on reservations gain

Markets in this article

Ford Motor Co (Extended Hours)
11.06 USD
0.21 +1.950%
Lucid Group, Inc.
4.76 USD
0.27 +6.070%
Lucid Group, Inc.
4.76 USD
0.27 +6.070%
Tesla Inc (Extended Hours)
243.74 USD
1.04 +0.430%

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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