Opinions
Pete Najarian
Lucid Group
LCID-Q
COMMENT
May 13, 2022
options Trading just under $18. Today there was a buyer of 23,000 of the May 20 calls at 27-50 cents, fairly cheap with a little (not a lot) of time to play out. The EV space has taken a bad hit, but bouncing today.
$17.995
Stock price when the opinion was issued
Automotive
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SELL ON STRENGTH
The current EV rally Does this EV rally have staying power or is this like 1999? Tesla is driving this rally and everyone wants to own the next Tesla. You're betting on the momentum of these nascent EV stocks, years away from turning a profit, like Lucid. Remember that online Amazon was one of the few tech stocks from 1999 that survived and thrived. Suppose Tesla will be on the only survivor? Will Rivian? Remember to take profits on these nascent EV stocks--remember, hogs get slaughtered (out of greed). Sell half.
Automotive