LCID stock rises as Lucid rolls out new tech for its EV charging system

LCID stock rises as Lucid rolls out new tech for its EV charging system
1 month ago
2 mins read

On July 12, Lucid’s (NASDAQ: LCID) stock rose as much as 2% in the early hours of trading after it released a new tech video that reveals their innovative “Wunderbox” electric vehicle (EV) charging system. 

The new footage showcases the Wunderbox system, which makes it possible for Lucid Air to add as much as 100 miles of driving range with as little as five minutes of charging or a 300-mile range in under 22 minutes. 

Furthermore, the video explains the bi-direction charging features and how they are potential game-changers for the renewable energy industry.

Lucid Product and Chief Engineer, Eric Bach, does a deep dive on the Wunderbox. Source: Lucid YouTube

LCID chart and analysis 

In response to the announcement of the innovative “Wunderbox” LCID stock climbed in the early of hours of trading on July 12, now trading at $18.95, 2.26% increase at the time of publication. 

LCID 20-50-200 SMA lines chart. Source. Finviz.com data. See more stocks here.

Looking at resistance for Lucid stock Finbold has identified one important area. There is a resistance zone ranging from $19.99 to $20.26, formed by a combination of multiple trend lines.

Analysts rate the shares a hold, predicting that the average price in the next 12 months could reach $24, which is 29.52% higher than the current trading price of $18.53.

Wall Street analysts’ price targets for LCID. Source: TipRanks    

The catch-up play

With the recent large order of vehicles by the government of Saudi Arabia and the launches of its vehicle financing arm (Lucid Financial Services) and “Wunderbox” system, Lucid is potentially looking to position itself as an EV innovator brand. 

At current prices, the shares could offer an entry point to long-term investors looking to get exposure to the EV markets.

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Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Dino Kurbegovic

Dino is an investor and technology enthusiast with years of experience in managing complex projects. At Finbold he covers stories on stocks, investing, micro and macroeconomic trends. Also, he’s also building a micro solar power plants in his hometown.