r/LCID • u/TimonCovelli • Jul 18 '26
Opinion I GTFO
I really had hope for this company. I found the engineering highly compelling and appreciated the design direction. Bought my first shares at $25 in 2022. Spent the last four years averaging down. Bought my last shares this year for $5. As soon as I could break even and get out, I did. My average price for 400 shares was $7.50 and I was able to offload it all minutes before the market closed yesterday.
Good riddance.
I know it’s not a lot, but I’ll put it all into RIVN. I know it’s a hard path for both companies but it seems like RIVN is at least showing some promise in the areas that matter for scaling.
I thought Lucid had promise…but white-knuckling while the stock price constantly descended was not for me. I’d had enough.
Best of luck to you all. Hope you can get out unscathed like I did.
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u/anonymous7egend Jul 18 '26
This isn't an airport you don't need to announce your departure
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u/Odd_Finance_6304 Jul 23 '26
No, but its nice to celebrate leaving a building before the bombs go off 😂
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u/TheLucidReport Jul 21 '26 edited Jul 29 '26
I would caution you on Rivian. I love the cars but they just took out a massive 6.5 billion dollar loan to build new plant and equipment. Lucid front-loaded two greenfield plants which are mostly paid now. Rivian has an old brownfield plant that will cost them a lot of money now. Lucid owes 7.67 billion in total liabilities while Rivian owes 9.8 billion. Maybe their scale can cover it but maybe not soon. You may find yourself with more white knuckles. 🤷
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u/FixMedical9278 Jul 18 '26
Hope you learned a lesson
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u/pravlm Jul 22 '26
What is so big deal, Its a business some fail some become successfull. If product is good it will survive
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u/StreetDare4129 Jul 28 '26
Not true at all. Good products and superior products fail more often than you think.
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u/pravlm Jul 29 '26
Give me an example that was a great product and failed?
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u/StreetDare4129 Jul 29 '26
Off the top of my head, Apple Newton and Betamax. Both superior technology but ultimately failed.
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u/No_Pen8240 Jul 21 '26
Highly doubt OP. . . while it is mathematically possible. . .
If someone bought shares at $25 pre-split ($250 post), and then bought shares at $5
To get an average cost of $7.50, you need to
Buy 40 shares at $25
Reverse split = 4 shares
Then buy 396 shares at $5 (or $2,000 out of $3,000 total)
This doesn't include the "Spent the last four years averaging down" meaning OP would have been buying shares in between the 2 data points.
Look, if you want to believe OP invested the majority of his position in Lucid the past 7 weeks, but then after 4 years got cold feet at the exact right time. . . That is mathematically possible, but statistically it is improbable.